With its market size and growth potential, Africa is the hottest emerging market.
In the current year, 2017, Africa’s beauty market is estimated to be worth over $13.2billion.
Report also said that in a sample of 39 African countries, the total household expenditure on fast moving consumer goods (FMCG) reached almost $240billion in 2010. Nigeria and Egypt are the 2 largest economies known to have the highest expenditure. Nigeria is largely populated and this population is segmented into upper, middle and lower class cadre, with these, mass produced fragrances and high ended ones will definitely find buyers.
Loreal, Mary Kay and Avon products are established brands in Nigeria. MAC which launched its first African store in Nigeria in year 2013 is already a household name and has a very strong brand in the country. Foreign companies such as Forever Living (USA) and Oriflame (Switzerland) by means of network marketing are gradually gaining market share.
Nigeria, the giant of Africa has a wealth of natural ingredients from botanical plants and seeds whose economic value in Scents and Beauty product is yet to be discovered.
Products such as African Sandalwood, (which is one of the ingredient used in the preparation of african black soap), Shea butter, Tamarind seeds oil, African gardenia, African geranium, Sunflower seed oil to mention but a few are popular and ubiquitous ingredients used in countless skin and hair care products.
Newer common African ingredients such as Baobab, Marula and Moringa Oleifera, are also used in the manufacture of body products. The baobab tree is the national tree of Madagascar and there are eight species of the tree in the genus Adansomia .
Despite being in the midst of abundance, Africans themselves have not bothered to explore avenues to channel these God given resources. Though there are a few limiting factors which are hindering the growth of cottage industries especially in Nigeria and these could be the reasons why some foreign companies come to Africa, collect these materials take it to their country, process them and sell them back to us at exorbitant prices. Most cosmetics imported to the country are heavily laden with banned chemicals.
In the next twenty years, I see Nigeria , the giant of Africa producing home grown Artisan and Indie perfumers which will represent her in World Perfumery Congresses. The production of perfumes in my country could reduce the influx of allergen laden perfume products into the country, create more jobs and impact the economy positively.
In twenty years time, I look forward to reading about the Etiquette of African Perfumery, the development and importance of perfumery heritage and culture in various African countries Nigeria inclusive.
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