DUBLIN, August 05, 2021--(BUSINESS WIRE)--The "South Africa Skincare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The South Africa skincare market was valued at USD 663.51 million in 2020, and it is projected to register a CAGR of 4.25% during the forecast period, 2021-2026
The COVID-19 pandemic is still transforming the growth of numerous industries, however, the pandemic's immediate impact is varied. While some sectors may experience a decline in demand, many others continue to stay unaffected and exhibit strong development prospects.
The skincare market has been witnessing significant growth due to the increasing health and hygiene consciousness among consumers, owing to the impact of the COVID-19 pandemic. The pandemic led to a shift in consumer priorities in 2020, with a focus on overall health and wellbeing. Consumers also prioritized naturally healthy and glowing skin as opposed to hiding their imperfections with make-up.
Over the long term, the market is experiencing accelerating demand for anti-aging products, like anti-wrinkle cream, face cream, serum, eye cream, and others, due to other factors, such as pollution and hard water conditions that are bombarding such products' needs. An increasing number of consumers in the market are becoming aware of pollution's impact on the skin. Increasing awareness about skin rituals and the urge to have a beautiful and younger appearance is driving product sales, allowing deeper penetration and expansion to new markets.
Consumers in the region are showing great interest in products formulated with natural and organic ingredients. Dermalogica, a European cosmetic brand, emphasizes the use of goat milk in its product formulations. Moreover, with the growth of the middle class and increased spending power across many socio-economic groups in South Africa, demand for affordable, but reliable quality skincare products exist, to fulfill the requirements of different ethnic groups and meet the demand for natural ingredients
Online Sales to Foster the South Africa Skincare Market
The rapid development of technology in the country is expected to be the major contributor to the growth of e-commerce in the country. The evolution of easy payments methods in the country is also one of the prominent drivers for the e-commerce market. The launch of Rabaki, an online retail store, is offering opportunities for locally present brands to improve their sales and stabilize in the prevailing uncertain economic situations.
Brands are experimenting by being more creative with their narrative across platforms and consumer touchpoints throughout the purchase journey from inspirational and positive social campaigns, to content designed to save the consumer's time while searching for a certain skincare product in the store. This is further driving the domestic brands and international brands that have a presence in the country to offer more products via e-commerce.
South Africa's skincare market is highly fragmented due to the prominence of several small players in the market. Some of the prominent manufacturers present in the country are Unilever, Beiersdorf AG, Natura & Co, Estee Lauder Inc., among others.
Companies are adopting acquisitions, mergers, and launching innovative products to cater to the growing demand for naturally sourced products. The active companies have adopted product innovation as their key strategy, to increase their geographic presence and customer base.
With the growing demand for natural and effective skincare products, the market studied has witnessed an emergence of new kinds of products to cater to the growing demand of consumers of all age groups having different skin types.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Face Care
5.1.2 Body Care
184.108.40.206 Body Lotions
220.127.116.11 Body Wash
5.2 By Distribution Channel
5.2.2 Specialist Retail Stores
5.2.3 Online Retail Stores
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Unilever PLC
6.4.2 Procter & Gamble
6.4.3 L'Oreal S.A.
6.4.4 The Estee Lauder Companies Inc
6.4.5 Beiersdorf AG
6.4.6 Clarins Group
6.4.7 Clicks Group Limited
6.4.8 Amka Products (Pty) Ltd
6.4.9 Johnson & Johnson
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/qzqy48
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005543/en/
Laura Wood, Senior Press Manager
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