China's Cosmetics Market Grows Fast Despite Slowdown In Overall FMCG Market

China’s cosmetics market grew 12.8 percent in 2015, compared with 2014, according to Kantar Worldpanel. Data from the market research firm revealed the segment’s high-speed growth, in contrast with the FMCG market’s 3.5 percent growth rate, was driven mainly by consumers’ upgraded buying and purchasing a wider range of products. Also, the study revealed local brands, which are driving market growth, are expanding their shares of the market, due to the growing popularity of brands between mass and prestige in price positioning; brands’ inclusion of both natural and high-technology features; and popularity of hydration benefit in skincare products.