Steady growth expected worldwide
According to Euromonitor International’s Survey, the world market of Beauty and Personal care will keep growing, over the next 4 years, at a almost regular rate of around 5.8% per year. Just reading the number it might sound not so exciting, but we have to consider that the forecast of global economy, for the same period, foresees contractions of many leading sector of the economy, especially in the developed countries, Europe being the hardest hit of them all. In fact, the growth is lead by the same players who have supported the increasing level of production over the last decade.
India seems to maintain the first place in Compound Annual Growth Rate (CAGR) +11%, while China will confirm an admirable second place in market share as well as for Annual Growth +8%.
The USA will not step down from its domination in market share, and its Annual Growth Rate seems to be still positive +4% but slowly declining.
A solid third place for Brazil in market share and in CAGR +7%.
European Countries are all seen to be growing around +1-2% with the exception of the UK, which seems to have chances to increase its CAGR by around +4%.