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South African Cosmetics Products Market

South African Cosmetics Products Market

  • July 2017
  • 110 pages
  • ID: 5023934

Summary

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The cosmetics or beauty products industry in the world is one sector which remains impervious to the ups and downs markets. Overall sales are indeed affected in the event of an economic downturn, but one can count on sales of cosmetics to maintain a certain volume overall. This is because of continuing and growing usage of products by women, and increasingly, by men, across the world.

South Africa is another country with a thriving beauty and makeup market, and a YoY growth rate exceeding 10%. The South Africa cosmetics market, worth US$ X.X bn as of 2014, is projected to grow at CAGR X.XX% to US$ X.X bn by 2020. The market is characterized by an increase in the number of women in the workforce, a growing middle class with increasing disposable incomes, rising urbanization and more.

Another driving factor of this market is increased sale of mass market products through pharmacies and other mass market channels, and a corresponding reduction in high priced products. Customers are increasingly looking for value for money products which are natural and beneficial for the skin, provide a range of combined benefits like anti-ageing, sebum/oil-control, radiance, moisturizing, etc. available in high priced premium products, at a lower than premium cost. This product class has been dubbed “masstige”. People were seen trading down from premium to masstige, and masstige to mass market brands as their disposable incomes were affected in response to shifts in the economy.

Along with typical skin, lips and eye makeup, the newest trend is the blending of multiple benefits under one beautifying product. The result of this trend, originating in South Korea, is the BB (followed by CC, DD and EE) creams, which have the colour correction properties of foundation, SPF benefits of sunscreen and a multitude of other medical and natural ingredients imparted benefits.

Distribution is through stores, pharmacies, malls and direct selling. Ecommerce is an emerging channel where competitive discounts are available. Famous brands include Revlon (with X.X% of the market), L’Oreal, Unilever, P&G and more.

Drivers

Increasing urbanization, more women at the workplace, increase of disposable income, increased inclination for better appearance, growing market are some of the drivers of this market.

Challenges

Economic difficulties, high cost of products, lack of clarity into the segmentation of the market based on spending patterns and demand, insufficient research into the prevalent trend of organic products are a few of the challenges in the South Africa cosmetics market.

What the report offers/b>

Market Definition for the specified topic along with identification of key drivers and restraints for the market
Market analysis for the South Africa Cosmetics Market, with region specific assessments and competition analysis on a South Africa and regional scale
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a South Africa and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
Identification and analysis of the Macro and Micro factors that affect the South Africa Cosmetics Market on both South Africa and regional scale
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

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