THE WHAT? Nigerian beauty sales hit a value of N1.034 trillion in 2021, up 14.5 percent on the prior-year period, according to data compiled by Euromonitor and reported by The Guardian.
THE DETAILS Hair care and oral care were the star sectors, with 17 percent growth, while bath and shower products was the only category to register growth in the single figures, up 8 percent yoy.
Personal care accounts for some 45.5 percent of the market, or N470 billion, while skin care has a more modest N128 billion share.
THE WHY? Grace Abamba, President of the Society of Cosmetic Scientists of Nigeria, sharing the data at the organization’s annual conference, commented, ”We have seen double-digit growth in most categories except bath and shower slowing down with falling sales of sanitizers. We look forward to seeing some innovation in this category. The premium category also experienced slowing growth where consumers are struggling with rising prices and so are looking for more affordable options.”
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
-
Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
-
Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
-
Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
-
Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
-
Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
-
Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
-
Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
-
Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
