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China's Beauty Retail Market Forecast To Grow To $50 Billion By 2020, Mintel Says

July 22, 2016: 12:00 AM EST
China's beauty retail market is forecast to grow to 338 billion yuan, or $50 billion, in value by 2020, according to Mintel. Data from the market research firm revealed demand for skincare products is driving growth in the market. Mintel said 65 percent of consumers spent more on facial skincare in 2015 than in 2014. Growth continued despite the slowdown in consumer purchases during the three-month period ending October 2015, Mintel said.
"Chinese beauty retail market predicted to reach $50bn", Inside Retail Asia, July 22, 2016, © Inside Retail Asia
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