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Global cosmetic & toiletries market reached at $150bn in 2004 by Kline & Co

Jul '05
A management consulting and market research firm Kline & Company reported the global market for cosmetics and toiletries arrived at nearly $150 billion in 2004, up by more than 4% from 2003, according to a new study soon to be published by Kline & Company.

The study, GLOBAL COSMETICS & TOILETRIES 2004, presents sales and market data across 20 product categories in 16 countries throughout Asia, Europe, North America, and Latin America.

Kline's research shows that sales of skin care and hair care products were the main drivers of growth, boosted by increasing penetration in developing countries.

“Europe is the largest market for cosmetics and toiletries, but countries like Argentina, Brazil, Russia, and China are showing the highest rates of growth,” says Carrie Bonner, industry manager for the Consumer Products practice for Kline's research division.

All four of these countries saw their sales at the manufacturer level expand by double-digit rates in 2004, according to Kline's study.

Argentina increased its sales by more than 17% last year, albeit from a small base. This contributed to overall growth of nearly 12% for the Latin American countries examined in the study.

While on a regional basis, Asia had an increase in cosmetic and toiletry sales of less than 4%, impressive advances were made by China and India.

From 2003 to 2004, these markets saw growth of 12.5% and 7.7%, respectively, and together surpassedthe $10 billion mark.

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