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Skin Care Market In South Africa Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Skin Care Market In South Africa Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

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Skin Care Market In South Africa Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The South Africa Professional Skincare Product Market size is expected to grow from USD 25.08 million in 2023 to USD 37.90 million by 2028, at a CAGR of 8.61% during the forecast period (2023-2028). Key HighlightsThe South African professional skincare market is projected to experience significant growth, driven by the rising demand from women and young consumers. Multifunctional skincare products that protect the skin from harsh environmental conditions while promoting even and light skin tones are currently the most popular. Additionally, with the expanding middle class and increased purchasing power in various socio-economic categories, there is a demand for cost-effective, high-quality skincare products that cater to the needs of different ethnic groups while also incorporating natural components.Professional skincare products containing key ingredients such as niacinamide and salicylic acid are gaining popularity due to growing concerns about skin problems like acne and eczema among the African population. Furthermore, pollution and hard water conditions are fueling the demand for facial cleansers, moisturizers, and exfoliators over the forecast period.Specialty stores and salons offering expert consultations remain the most popular sales channels for professional skincare products due to their wide availability. The increasing popularity of online shopping is also expected to influence sales of skincare products on online retail channels.However, despite the growing adoption of skin care products among South African consumers, the market growth may be restrained by the lack of awareness about the benefits of professional skincare products and their high cost.South African Skin Care Products Market TrendsGrowing Aging Population is Accelerating the Growth of Professional Skin Care Products The market for professional anti-aging products is experiencing accelerating demand, driven by a rapidly growing demographic looking to prevent wrinkles, sun damage, and other signs of diminishing youthfulness. This demand is particularly strong for anti-wrinkle face creams, serums, and eye creams. To meet this demand, skin care manufacturers are increasingly emphasizing research and development on active ingredient-based professional anti-aging products. The baby boomer population is continuing to drive demand for professional anti-wrinkle remedies and other age-concealing products as more of this demographic enters the 30-to-44 years age group. Additionally, the growing number of working women in countries like South Africa is increasing the spending power of consumers, further pushing demand for professional products. For example, according to Statistics South Africa- Quarterly Labour Force Survey, it stated that in the first quarter of 2022, the number of women in South Africa's working population reached almost 20.2 million, compared to roughly 19.8 million men, marking a year-on-year change of 1.4% and 1.5%, respectively. Other factors, such as pollution, hard water conditions, and hot, dry summers in some regions, are also contributing to the need for anti-aging products. Wrinkling is a highly visible feature of aged skin, and a reduction in collagen is a driving factor in the market. To meet this demand, skin care manufacturers are investing in the development of innovative anti-aging products that use active ingredients to target specific concerns and offer visible results, such as reducing the appearance of wrinkles and improving skin texture. For instance, in January 2021, Environ Skin Care (Pty) Ltd launched Focus Care Comfort+ Anti-Pollution Spritz and Focus Care Comfort+ Anti-Pollution Masque. The Environ Focus Care Comfort+ Anti-Pollution products are a lightweight, invisible, breathable shield that offers complete protection with a scientifically perfected blend of anti-pollution ingredients and high-potency antioxidants to counteract the harmful effects of pollution. In July 2021, Environ Skin Care (Pty) Ltd launched new focus care youth+ seriencenight serum. The product act as an overnight booster developed to target the negative long-term effects of stress to reveal serene, luminous, and youthful-looking skin. This trend is expected to continue as the demand for anti-aging products grows in response to changing demographic and environmental factors. The above-mentioned factors act as major market drivers for South Africa's professional skincare product Market. Online Retail Stores to Foster the South African Professional Skin Care Market The sales of professional skincare products through online stores have been experiencing rapid growth in recent years due to the convenience that it offers to consumers. These channels are gaining market share in terms of revenue, popularity, and a diverse range of products from both local and global brands. Online beauty shoppers are increasingly valuing the convenience of online shopping, reading product reviews, sharing skincare tips online, and receiving automatic refills of regularly used products rather than just focusing on price and promotions. This presents an opportunity for brand owners and retailers to capture a growing market. Brand owners and retailers are offering an all-encompassing online category approach through online portals, which further boosts the online penetration of the South African population for purchasing professional skincare products. Retailers are also implementing various marketing strategies to increase online shopping penetration among the African population. For instance, in 2021, according to the United States Trade Department (USTD) and Nanyang Technological University Singapore Research Articles, it is stated that South Africa accounts for 56% of Internet penetration. Moreover, in Africa, e-commerce has grown significantly. Over 264 active e-commerce sites can be found in 23 different countries in Africa. There are approximately 105 e-commerce sites in South Africa alone, compared to 60 and 58 in Kenya and Nigeria, respectively. As a result, a growing number of consumers began spending increasing amounts of time on social media platforms to pass their time as well as to stay connected. However, for skin care product manufacturers, this means a better platform to advertise their products with the help of social media influencers. For example, Sephora's marketing strategy unites online and in-store experiences and promotes the brand through social media, mobile, and the Internet. The company uses analytics to identify and segment purchases, as well as to measure the impact of its marketing campaigns and merchandising. By doing so, Sephora can better meet the needs of its customers and encourage them to make online purchases of professional skincare products. Therefore, the demand for online retail stores for Professional Skincare Products is growing in the region.South African Skin Care Products Industry Overview The market is competitive, with the presence of numerous local and international players competing for a major market share. The players in the market compete using various strategies ranging from advertisements and brand building through proven claims such as organic, clinically proven, cruelty-free, and more. Environ Skincare (Pty) Ltd, Elixir Fusion, Saloncare, and Vitaderm Professional Skin Care are some major players operating in the market studied that hold dominant positions in the market, closely followed by ESSEL and Formulage, among others. Owing to the lucrative opportunities offered by the professional skincare market, the companies are penetrating the market with pre-existing products as well as by launching new products in the market. Further, The key players are embarking on mergers and acquisitions as a strategy to strengthen their market dominance. The major players are constantly trying to expand their production facilities and increase their market presence locally via this strategy.Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Please note: The report will take approximately 2 business days to prepare and deliver.

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