The Chinese skin care and cosmetics market is now considered one of the most sophisticated and competitive in the world. While the Chinese economy has slowed, a recent report by Euromonitor'11 points out that increasing interest in personal grooming is helping to drive sales as consumers born in the 1980s and 1990s are more willing to spend money on facial care at an earlier age. Euromonitor puts the total beauty and personal care market in China at around US$48.9bn-growth of 10.6% since 2013/2014. Of all the sectors, skin care is listed as the largest, worth $23.5bn and growing at 11%. Meanwhile, the latest research in this market by Kantar WorldpaneF1 says the average number of skin care products in Chinese urban households has risen steadily over the past 12 months to reach an average of 3.63-further proof that Chinese consumers need little encouragement when it comes to perfecting their beauty regimes.
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