Natural market to reach £28billion by 2018.
The natural personal care market is set for a yearly growth of 9.2% in the next four years, reaching a predicted global turnover of US$46billion (£28billion) by 2018, according to new data from the Kline group. The sector has expanded at a compound annual growth rate of 11.3% since 2008, with manufacturers of natural personal care products seeing a 10.6% rise in sales 2013. The market is now estimated at US$29.5bn (£18bn).
China is currently the world’s fastest growing market; recording a 24% sales increase in 2013. Zachary Ferrara, project lead for Kline in China, said: “While both domestic and foreign brands are enjoying growth within the flourishing Chinese market, domestic ones still claim an estimated 80% share.” Just under two thirds of domestic brands in the natural personal care market predominately offer products based on traditional Chinese medicine.
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