According to spokesman of Ministry of Commerce, the sales of cosmetics was up by 14.2% compared to last year.
The market sees a rise of popularity of domestic cosmetic brands in specific fields, including essential oil and cosmeceuticals. The changes of sales channel and branding methodology also bless the development of local brands with new opportunities.
Many local brands lavish millions of yuan for sponsorship of popular TV shows and online media to reach more local consumers.
However, the current market share of local cosmetics brand is still relatively low compared with developed countries. In the developed countries, the local cosmetics brands usually account for 15% to 25% of the market share.
The biggest Chinese cosmetics company Shanghai Jahwa only accounts for 2% of the local market.(Source: caijing.chinadaily. com)