Global C&T market expected to bounce back to €47.5bn in 2011
China and Brazil key to future growth
The cosmetics and beauty products market is expected to recover markedly in 2011, according to recent market research analysis. The luxury products segment has already put on growth in the US. The cosmetics sector is expected to bounce back after a 2% decline in the past two years to around €47.5bn, according to estimates from Euromonitor International.
This contrasts to some extent with growth in 2010 of about 4.5% at world market level to some €267bn, boosted by strong growth in China and Brazil and with even the west European market posting an increase of 2% in care products last year. China and Brazil are expected to provide the decisive growth in the period to 2014 and Euromonitor expects overall global growth to turn out at around 38% in this period.
Meanwhile the NPD market research group notes that 2010 was an encouraging year for all the prestige beauty product categories sold in department stores with rapid recovery in sales of skin care products. There was a gradual upturn in the make-up segment but fragrance sales dipped 1%.