Market Insights Consumer Beauty & Personal Care

Cosmetics - South Africa

South Africa

In 2024, South Africa's Cosmetics market is projected to generate revenue of €488.10m.
This market segment is expected to experience an annual growth rate of 5.13% from 2024 to 2029 (CAGR 2024-2029).
When compared to other countries, in the United States leads in terms of revenue generation, with an estimated amount of €18,470m in 2024.
Taking into account the population figures, the per person revenue in South Africa's Cosmetics market is projected to be €8.00 in 2024.
Looking ahead, it is anticipated that 93% of the sales in the Cosmetics market by 2024 will be attributed to Non-Luxury.
South Africa's cosmetics market is experiencing a surge in demand for natural and organic products, driven by a growing awareness of sustainability and health-consciousness among consumers.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.