China's Fast Growing Beauty Market Offers Growth Opportunity For International Cosmetics Companies

International cosmetics companies, such as L'Oréal and Estee Lauder have expanded their operations in China's fast growing beauty market. Driven by steady economic growth, increasing disposable incomes, and rising demand from a growing middle class, China's beauty and personal care market grew significantly, with the prestige beauty segment growing 21 percent in 2011. Skincare expanded 23 percent, while the makeup market grew 17 percent. L'Oréal, for its part, grew its sales 17–18 percent to exceed €1 billion in sales in 2011.