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China Becomes Raw Materials Powerhouse
Posted: June 6, 2006
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“Some very good companies like Shiseido and Kao are really at the forefront of innovative personal care products, particularly for anti-aging technologies, and this is where raw material firms will need to focus in order to remain competitive with the advancing Chinese suppliers,” added Morris in the Kline study.
The study projected the market for personal care raw materials to grow nearly 10 percent annually over the next five years. Selected categories in specific raw material product are estimated to grow 15 percent to 20 percent on an average annual basis, according to the study.
Kline & Company maintains that other global suppliers, in order to remain competitive with such growing markets as China, must continue to provide innovative products while offering value-added specialty products.
-Katie Schaefer, C&T Magazine