South Africa Cosmetics and Personal Care Products Market Size

South Africa Cosmetics & Personal Care Products Market Analysis

The South Africa cosmetics and personal care products market size is expected to grow from USD 3.35 billion in 2023 to USD 4.19 billion by 2028, at a CAGR of 4.62% during the forecast period (2023-2028).

• Growing population and rapid urbanization, along with the increase in per capita spending on beauty products, are contributing to the growth of the beauty and personal care market in South Africa. In addition, the increasing availability of affordable skincare products and the increasing working population in the country are also increasing the demand and supporting the skincare market growth.
• For instance, according to Statistics South Africa, in the first quarter of 2022, the number of women in South Africa of working age reached almost 20.2 million, while the number of men of working age reached roughly 19.8 million. This marked a year-on-year change of 1.4% and 1.5% compared to the first quarter of 2021. Furthermore, the improving quality of life, the positive effects of skincare on self-esteem and social interaction, and the gradual consumer shift toward premium and luxury brands are a few factors that are likely to propel the market growth during the forecast period.
• Moreover, a significant increase in the demand for men's grooming products, supported by the preference for multifunctional products, is driving the market's growth. Additionally, increased consumer preference for natural and organic personal care and cosmetics products owing to the consumer's intention to avoid a few ingredients like parabens are likely to propel the growth of organic cosmetic products in the future.
• Responding to a growing need for trusted alternative health solutions, various manufacturers are expanding their portfolios with respective products to cater to the demand. For instance, in April 2021, South African health and wellness company Feel Better Naturally launched their first product in their exclusive African Botanical skincare range. The unisex brand claims that it aims to bring restorative skincare in the way nature intended to all skin types and ages with its growing range.
• Furthermore, such products are being positioned as high-quality and premium products and attract a wide range of consumers. Due to pollution and hard water conditions, the market is experiencing high demand for anti-aging products, like anti-wrinkle creams, face creams, serums, eye creams, and others. An increasing number of consumers in the market are becoming aware of pollution's impact on the skin. Such factors are expected to drive and support the South African cosmetics and personal care products market growth during the forecast period.