Demand For Cosmetics Grows In Africa
Africa is fast emerging as an attractive market for cosmetics and toiletries...
Africa presents one of the fastest developing markets in the world and the demand for cosmetics is growing at a frantic pace. Not only is there a huge pent-up demand for upmarket products from Europe and North America but also for the entire range of beauty and personal care products from major manufacturers around the world.
When it comes to looking their best at all times, Africans are second to none. As such, there is a huge demand for products such as beauty soaps, face washes, shampoos, conditioners, body and skin lotions, toners, astringents, cold creams and other moiturising formulations, perfumes, hair colours, dyes, powders, eye and face packs, to mention just a few.
While there is now a considerable level of manufacturing activity taking place within Africa itself, there is an ever assertive and growing segment of consumers who are demanding the best products available in the world. Enterprising traders are keen to source such goods from all the reputed manufacturers but are often hamstrung by the volumes of purchases required.
Most manufacturers are not interested in supplying quantities that do not run into several container loads at least. Often it is not viable for buyers to go in for such large volumes.
Secondly, there is also the question of sourcing products from different countries and even continents.
For instance, an African importer may be interested in facial products from Europe, toiletry from the Far East and herbal cosmetics from the USA. But this would place immense logistics constraints and would involve travelling around the world and opening of letters of Credit with a host of banks. Often, all these obstacles would prove insurmountabe and many exporters would be put off by the sheer magnitude and complications of the whole exercise.
The global market for fragrances and perfumes is forecast to reach over US$33 billion by the year 2015, driven by growing trend towards consumer urbanization, higher spending propensity and heightened importance of personal appearance and grooming.
In addition, increased demand for youth-oriented, floral and exotic fragrances and celebrity perfumes will see rapid market expansion. Although women’s perfumes continue to remain the mainstay, the men’s perfumes category is projected to plod ahead at a rapid pace