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Emerging Markets: The Engines of Growth

SpecialChem / Imogen Matthews – Jul 11, 2012

Emerging markets where beauty companies are focusing their efforts include the BRICs, Venezuela, Argentina, Turkey, Bulgaria and the Ukraine. By 2016, Euromonitor forecasts the BRICs to be worth USD35bn in beauty and personal care. Brazil is the largest of the BRICs, valued at USD16bn by 2016; China USD13 bn, India at USD4 bn and Russia at USD1.6 bn in fixed USD constant terms. By 2016, Latin America is expected to overtake Western Europe to become the leading market. Brazil is the world leader in fragrance, overtaking the US in 2011. Brazil is world leader in mass cosmetics, benefiting from a large teen market. China has seen growing demand for premium products, especially in skincare, colour cosmetics and fragrance. Men's grooming has experienced one of the largest growth rates in 2011 in India, growing by 24%. Russia’s GDP has reached pre-recession levels in 2011; consumers are keen on premium brands.

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