SUB-SAHARAN AFRICA PERSONAL CARE PRODUCT MARKET IS KEY GLOBAL GROWTH ZONE
November 1st, 2014
One of the biggest expanding markets for cosmetics and personal care products is sub-Saharan Africa. A key exporter to the region, L’Oréal has estimated that the overall African beauty and personal care market generated EUR6.93 billion (USD8.61 billion) in 2012, growing at between 8% and 10% annually, compared to a global market growth rate near 4%. It is expected to reach EUR10 billion in 2017, predicted a L’Oréal report, drawing on research from Munich-based Roland Berger Strategy Consultants. Market analysts Euromonitor International predicts a slower ...
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