China’s haircare market to see 16.5% growth in CAGR during 2007–2017: Report

China’s haircare market will grow at a CAGR of 16.5% during 2007-2017, according to a new report by Canadean Health & Beauty.

According to the report, ‘Market Focus: Trends and Developments in the Haircare Sector in China,’ in terms of volume, the haircare market will grow at a CAGR of 13% during 2007 to 2012, recording significant growth.

Male and female consumers have an equal share in the Haircare market in China, with men accounting for 49.6% of the haircare sector by volume.

Early young adults are the largest consumers of haircare products in China, as age-specific needs and trading drive the market growth.

Chinese hair care sector is an attractive market due to factors such low penetration of haircare products, high growth, and a large market size.

Shampoo is the largest haircare market category in China, holding more than 67.7% share of the market in value terms in 2012, as Chinese consumers tend to have very thick oily hair that requires regular washing.

Conditioner is expected to be fastest-growing haircare category, whose value sales in US dollars increased at a CAGR of 19.7% during 2007 to 2012; however, this category is expected to record a marginal decline in 2012 to 2017.

Specialised hair care products such as hair colourants, styling agents, perms and relaxers will lag behind the leading categories, which will record double digit growth.

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