CONFIDENTIAL* 2 Questions 1 t0 7 are based on the following passage. ‘A growing number of men are making Asia one of the fastest growing markets for ‘men’s skin care. Asia accounts for USS2.1 billion, or 65 per cent of the USS3.3 billion spent globally in 2013 on such items as male skin creams, lotions and whiteners, according to data compiled by Euromonitor, a market research firm. Global spending on men’s skin care products, by region ‘Western Europe 21% North America 9% Latin America 2% Eastern Europe 2% ‘Africa 1% (Source: The Wall Street Journal, May 29, 2014) That amount dwarfs the US$286.4 million spent by North American men and the US$682.9 million used by Western European males on the same products. China, including Hong Kong, is the largest market for men’s skin care, at USS974.8 million, an amount that is forecast to grow to USS1.2 billion this year. In second place is South Korea, which spent USS635 million. “This is where the market’s development is happening. It’s very concentrated in Asia,” says Nicole Tyrimou, a beauty analyst for Euromonitor in London. Men ate still far from rivalling women — the women’s skin care market is valued at more than 30 times the men’s at USS107.6 billion. But men’s skin care products are growing at a much faster pace, 9.4 per cent compared with 4.8 per cent for women’s skin care. And as men have only recently considered buying items like serums and deep-cleansing moisturising soap, beauty companies see ‘much more potential for expansion among males, compared with the mature ‘women’s skin care market, The most enthusiastic adoption, by far, is in South Korea, where male celebrities, like singer and actor Rain, have long endorsed skin care in billboards and television advertisements, paving the way for broader acceptance. South Korean men spent USS25.3 per capita on skin care in 2013. Asian countries account for five of the top 10 countries in per capita spending. “There is a wider idea of skin care being effeminate in many countries, but in Korea this doesn’t seem to be the case,” says Simon Dufly. co-founder of the United Kingdom brand Bulldog, which started selling its line in Korean stores last year. MUET 2015 - 800/315 *This question paper is CONFIDENTIAL until the testis over. 3 15 20 CONFIDENTIAL*