Rising focus on Afrocentric requirements to drive growth | Technavio

NEW YORK, June 7, 2021 /PRNewswire/ -- Set to grow by USD 1.26 billion during 2021-2025, Technavio's latest market research report estimates the beauty and personal care market in Africa to register a CAGR of almost 2%. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Avon Products Inc., Beiersdorf AG, Coty Inc., Godrej Consumer Products Ltd., Johnson and Johnson, LOreal SA, Revlon Inc., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever Group are some of the major market participants. The growing focus on Afrocentric requirements will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.