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China s household care market is forecasted to reach US$26.9 billion in 2025, representing growth at a CAGR of 8.4% for the period spanning from 2021-2025.
The factors such as rapid urbanization, increasing personal disposable income, improvement in consumer confidence, changing lifestyle habits and growing preference of personalized soaps are expected to drive the market.
However, growth of the industry would be challenged by high competitive pressure, retail consolidations and quality control. Few notable trends include high demand for premium products and technological innovations. In 2020, the outbreak of COVID-19 pandemic has created a favorable impact on the market as the great lockdown has raised the demand of household care products.
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its. | March 5, 2021