The South African professional skincare market was valued at USD 30.65 million in 2016. It is expected to reach a value of USD 44.14 million by 2022, at a CAGR of 6.37% over the forecast period of 2017-2022. South Africa is one of the fastest-developing markets in the world, and the demand for skincare products in this country is growing at a decent pace. When it comes to beauty & personal care, South Africans spend very little on grooming and skincare products, such as anti-aging, anti-acne and anti-cellulite. There is less preference for plastic surgery and cellulite treatments in the country. However, with growing involvement of women in the corporate workforce, preference toward personal grooming is on the rise, and is driving the strong increase in sales in many key product areas.
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The demographic analysis includes age groups, ethnicity, income and rural-vs.-urban analysis. A brief excerpt from the income profile of the South African population follows:
Income inequality is very high in South Africa, with the top 10% of the population accounting for more than 50% of the total income in the country, while the lowest 10% made less than 1% of the total income. The average disposable income in South Africa is USD 8,712, which is 30% of the average income of OCED countries. Thus, a majority of the South African population cannot afford professional skincare products.
The focus on beauty & personal care is high among groups with high disposable income, which is supporting the market growth. Consumption of professional skincare products is evinced only among the top two income groups. The rest, 60% of the population, have a very limited income, and cannot splurge on professional cosmetic products. Low demand limits the market for professional skincare to the high-income-level population in the country.
Read more details of the research report at: South African Professional Skincare Product Market – By Product, Distribution Channel, Region, Trends, and Forecast (2017-2022)
ANTI-AGING SEGMENT IS EXPECTED TO GROW AT A FASTER PACE
The South African professional skincare market has been segmented and analyzed, on the basis of product type, into anti-aging, acne control, facial moisturizers, anti-cellulite, hyper-pigmentation control and others. The rise in the number of women working in South Africa, especially in workplaces, is providing a major boost to the market, as the working population has shown a considerable interest in professional treatments and products.
With the weakening of the South African currency, and the high proportion of multinational brands in the premium anti-aging product segment, there was a significant rise in the prices of professional products. While the market for preventive generic products was heavily affected, due to their non-essential nature, the professional product sale was negatively impacted. However, the negative impact is expected to be offset by the gradual recovery of the economy in the country over the forecast period. In the present scenario, the country is witnessing a decline in disposable income, while there has been an increasing demand for professional products, which has created an opportunity for local brands to offer highly concentrated products for specific treatments in the anti-aging segment at an affordable price. Furthermore, the low cost of local solutions, when compared to imported products, is pushing the users toward buying them, despite a lack of brand identity.
By distribution, the South African professional skincare market has been segmented into professional and retail channel. The spa industry in the country has observed a tremendous growth rate in the last 15 years, especially in spa therapies and in the diversity of spa-s. The growing trend of ‘day spa’s in the country, which offer full-day and half-day packages, is expected to drive the sales of professional skincare products.
The retail channels for the distribution of professional skincare products include, e-commerce and specialty stores. Internet retailing for beauty products in South Africa is expected to exhibit a strong growth over the forecast period. Rapid penetration of internet is expected to be a major contributing factor working towards the development of e-commerce in the country. The evolution of easy payment methods in the country is estimated to be a prominent driver for the e-commerce market.
Nimue Skin Company Pty, Ltd. launched the Nimue Skin Health Application, an interactive tool to manage the skincare results achieved through treatments.
The Estée Lauder group of companies acquires By Kilian, a Paris-based prestige fragrance brand, in a bid to complement their current product offering.
My Black is Beautiful (MBIB), a community-building program by Procter & Gamble (P&G), partnered with celebrity natural hairstylist, Felicia Leatherwood, to introduce its Hair Truth campaign. The campaign unites a collection of P&G’s hair care brands – Pantene, Head&Shoulders, Herbal Essences and Aussie, to celebrate ‘healthy hair is the truth’, that healthy hair looks the best and is the easiest to manage and style.
Beiersdorf launched NIVEA hand care products, with improved formulas and packaging that are based on the pleasure-to-touch motto. This product is an intensive hand-care cream and an extension to the blue care range of the company.
Our report on South African professional skincare market covers the following:
- Market Trends and Dynamics
- Latest News and developments
- Porter’s Five Forces Analysis
- Scope of Investment.
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