The African Beauty Market Is Set To Boom ? Here?s Why
Plus, the brands to watch.
African beauty is not a new concept believe it or not ? the rich and raw ingredients, the nourishingly natural formulas, the rituals passed down from generation to generation ? and yet, it?s place within the beauty market appears to be overlooked by the global industry. Statistics show that African beauty and the personal care market is valued at over $10 billion with a current three per cent contribution to the global beauty market which is set to more than double in the coming years compared to that of the global growth rate. Some countries, including Nigeria, are forecasted to see double-digit growth.Â
WHY HAVEN?T WE PAID AFRICAN BEAUTY BRANDS THE ATTENTION THEY DESERVE"Â The reason why African beauty has been placed on the fringes in the past can be put down to many reasons from the disintegration between countries to trading and legal conventions. All in all, unpacking the African market has been considered too risky by major investors, unlike those that have tapped into the Asian markets. From the peak of the North to the depth of the South, Africa holds an abundant amount of potential, wealth, culture, knowledge and showcases a significant revenue stance within the global market. Ozohu Adoh, Founder of Epara Skincare highlights that Africa is ?historically underexplored and under-researched.? However, change is afoot: ?We now have a better scientific understanding of the efficacy and ...
Fuente de la noticia:
grittypretty
URL de la Fuente:
http://grittypretty.com/
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