The future looks fragrant for the global cosmetics industry. The market is predicted to sustain a compound annual growth rate of about 4% over next few years, growing to $300 billion by 2010, from $253 billion in 2005. This will be driven by recovering consumer demand in Europe, continuing strong growth in skin care, the industry's largest sub-segment, and increasing contributions from emerging markets like Russia, China, and Brazil see Chart 1.
Nevertheless, to maximise their chances of growing successfully in this highly competitive and fragmented market, cosmetic companies need to clear a number of hurdles that are key to success in the cosmetics industry. These include
- Developing and maintaining a strong brand...
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