Cosmetics Packaging For Men

Chinese consumer confidence decline in 2008 after the economic slowdown. However, we can still expect from the cosmetics packaging as the Chinese government stimulus package announced to boost the consumption in November,2008.And now in 2015,the economic is till on the way of recovery.

The International Monetary Fund (IMF) was forecasting China’s economy to slow to 8.5% in 2009. However, according to Euromonitor International, “this rate is still impressively high on a global scale and consumer spending in China should continue being supported by rising incomes overall.” The figures told a past success story and a promising future tale. Per Euromonitor International, China was a standout performer in the Asia Pacific region with total cosmetic and toiletries sales valued at $14.3 billion in 2007 (a remarkable increase of 73.3% in five years compared to 2002 sales). Skin care sales alone were $5.3 billion in 2007, up 132% from 2002. If other underdeveloped cosmetic categories experience similar increases, foreign brands have much to gain by entering this lucrative market.

According to Euromonitor International, the cosmetic and toiletries market in China was worth a total of $14.3 billion in retail sales in 2007. The largest category is skin care with 36.8% of the total, followed by hair care with 19.9% and oral hygiene products at 13.9%.

The data above showing the need for skincare products and personal care products indicates there are chance for the supplier of cosmetics packaging to recover from the economic crisis.