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In 2017, the professional skin care market in South Africa was valued at USD 581.7 million and is expected to reach a value of USD 839.2 million by 2023, registering a CAGR of about 6.3% during 2018 - 2023 (the forecast period). The scope of this report incorporates market segmentation on the basis of product type, which include anti-aging, acne control, hyper pigmentation, facial moisturizers, and anti- cellulite segments.
Growing Demand for Skin Care Products in South Africa
The usage of professional skin care products over regular cosmetics is increasing. From 2006 to 2015, there has been a rapid expansion of population and an increase in the number of people aged above 40 years. In addition, the percentage of natural ingredients in products are also increasing. Increasing skincare and cosmetic products, in particular, among the aging population, is expected to create revenue-generating opportunities for the enterprises operating in this industry by 2023.
When it comes to beauty and personal care, South Africans spend quite little on grooming and skincare products, such as anti-aging, anti-acne, and anti-cellulite. Cosmetic products manufacturing is a thriving market in the country. There is an ever-growing section of consumers demanding the world’s best skincare products. Generally, the population prefers low-priced goods imported from Europe and America. South African women spend an average 2% of their income on cosmetics. Although the market is highly competitive, there is a steady growth in several sectors of the beauty and personal care industry, like body and facial lotions, skin anti-aging creams, and skin cosmeceuticals. South Africans are found to prefer ‘naturally-extracted’ wellness products.
Working Population is the Key Consumer Base for Anti-aging
In South Africa, nearly 33% of the population is between the ages 30-59 years and working, which is the key consumer base for anti-aging treatments and products. The market potential for anti-aging products among this segment is negatively affected by the growing unemployment in the country. The increasing number of women in the work force of South Africa is providing a major boost to the market, as this section has shown a considerable interest in such treatments and products.
Key Developments in the Market
• March 2017: Nimue adopted an approach to create anti-ageing skin care products. This includes a scientific understanding of the ageing process and what triggers it, as well as utilising a scientific selection of active ingredients that are used in ideal combinations and at optimal concentrations.
Reasons to Purchase this Report
• Current and future of South African professional skin market outlook
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Growing Demand for Skin Care Products in South Africa
The usage of professional skin care products over regular cosmetics is increasing. From 2006 to 2015, there has been a rapid expansion of population and an increase in the number of people aged above 40 years. In addition, the percentage of natural ingredients in products are also increasing. Increasing skincare and cosmetic products, in particular, among the aging population, is expected to create revenue-generating opportunities for the enterprises operating in this industry by 2023.
When it comes to beauty and personal care, South Africans spend quite little on grooming and skincare products, such as anti-aging, anti-acne, and anti-cellulite. Cosmetic products manufacturing is a thriving market in the country. There is an ever-growing section of consumers demanding the world’s best skincare products. Generally, the population prefers low-priced goods imported from Europe and America. South African women spend an average 2% of their income on cosmetics. Although the market is highly competitive, there is a steady growth in several sectors of the beauty and personal care industry, like body and facial lotions, skin anti-aging creams, and skin cosmeceuticals. South Africans are found to prefer ‘naturally-extracted’ wellness products.
Working Population is the Key Consumer Base for Anti-aging
In South Africa, nearly 33% of the population is between the ages 30-59 years and working, which is the key consumer base for anti-aging treatments and products. The market potential for anti-aging products among this segment is negatively affected by the growing unemployment in the country. The increasing number of women in the work force of South Africa is providing a major boost to the market, as this section has shown a considerable interest in such treatments and products.
Key Developments in the Market
• March 2017: Nimue adopted an approach to create anti-ageing skin care products. This includes a scientific understanding of the ageing process and what triggers it, as well as utilising a scientific selection of active ingredients that are used in ideal combinations and at optimal concentrations.
Reasons to Purchase this Report
• Current and future of South African professional skin market outlook
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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