Russia Drumming Up More Domestic, Foreign Cosmetics Manufactures
Released on: September 1, 2008, 2:56 am
Press Release Author: Shushmul Maheshwari
Industry: Retail
Press Release Summary: Russia is offering huge growth potential to domestic and foreign players in the cosmetics market as consumer spending on beauty products is increasing in the country.
Press Release Body: RNCOS, in its new market research report, “Russian Cosmetics Market Forecast (2008-2012)”, says that Russia has the huge potential for international as well as domestic cosmetic manufacture as the consumption of cosmetic products is rising in the country.
The research report states that the Russian cosmetics market has seen tremendous growth and is one of the fastest growing sectors in the country. The market registered an annual growth rate of more than 11% as compared to just 3% in Western Europe.
The Russian cosmetics market, says the RNCOS report, will continue to benefit from the growing consumer spending on beauty products and rising presence of foreign firms. In terms of market presence, local manufacturers have control over a substantial share of the mass-market and middle-market brands while high-end market is controlled by foreign manufacturers. However, foreign manufacturers are not restricted to high-end market and have shown considerable presence in mass and middle markets too.
Due to the presence of both foreign and local manufacturers, the competition in the mass and middle market segments is very intense. Foreign producers supersede the local ones by commercializing the new technologies at higher rates and control these segments, according to the RNCOS research.
Besides, there will be a profound impact of the Western concept of well being and looking good on the development in cosmetics and perfumery industry as consumers become more open towards spending on luxury products. Thus, the report forecasts, the Russian cosmetics and perfumery market will surge at a CAGR of nearly 13.6% from 2008 to 2012.
The report also provides forecast on sales of various other products such as hair care products, skin care products, sun care products, perfumery, oral care products, color cosmetics, male grooming products, and baby care products.
“Russian Cosmetics Market Forecast (2008-2012)” is an exhaustive research and rational analysis on the cosmetics market in Russia to help clients evaluate leading-edge opportunities critical to the success of the market. The forecasts and estimations provided in it are aimed to give a rough guide to the future direction of the market and are based on the correlation between past market growth and growth of base drivers.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today\'s globally competitive environment.
For more information visit: http://rncos.com/Report/IM100.htm Current Industry News: http://www.rncos.com/Blog/
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