Fast Market Research recommends "Skin Care in Nigeria" from Euromonitor International, now available
Boston, MA -- (SBWIRE) -- 10/28/2014 -- Skin care performed well in 2013, with 12% growth in current value terms. Growth in the category was driven by intense marketing activities by producers, as they competed for value share using discounted prices, advertising and wider distribution networks. Furthermore, the weather conditions are extreme in most parts of the country, with consumers striving to control the effects of the environment on their skin with skin care products, with sales also boosted by the rising population, particularly the urban population.
Beiersdorf led skin care with a 13% share of retail value sales in 2013. The company benefits from the growing popularity of its Nivea Visage and Nivea Body brands, given their added-value advantage and competitive price positioning. The company also gradually improved its distribution strategy, which helped it to penetrate the market by increasing its presence in retail channels. Unilever Nigeria followed Beiersdorf with a 12% share of retail value sales. The company leverages the popularity and trusted presence of its Vaseline, Dove and Lux brands, as most consumers have a sentimental attachment to these brands because of their reputation for quality.
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Skin care is expected to see a positive performance in the forecast period, with a retail value CAGR of 1% at constant 2013 prices. Economic improvements are expected to support the positive development of skin care over the forecast period, as consumers' confidence will grow along with rising disposable incomes, thereby increasing spending on skin care products. Population growth, marketing activities and demand for value-added products due to rising disposable incomes and consumer sophistication will help to consolidate the expected forecast growth.
Discover the latest market trends and uncover sources of future market growth for the Skin Care industry in Nigeria with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Skin Care industry in Nigeria, our research will save you time and money while empowering you to make informed, profitable decisions.
The Skin Care in Nigeria market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Skin Care in Nigeria?
- What are the major brands in Nigeria?
- In which facial care category are skin whitening benefits most pronounced?
- How are sales of mass versus premium anti-agers evolving?
Reasons to Get this Report:
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
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