Reliable reports claim that Nigeria is dominating the scene with a share of $7.8 billion as of August 2023 in the African Beauty and Personal Care market, which generates $57.12 billion in revenue.
Nairametrics’ exclusive report, which relied on data from Statista across various African nations, shed light on Nigeria’s thriving beauty and personal care landscape.
The report revealed that the Nigerian market takes the lead, with an expected annual increase of 14.43% in the next five years.
The Personal Care segment amounts to $3.49 billion in 2023.
Furthermore, a notable 2.9% of the total revenue will be generated through online sales.
Below are the top 10 African countries with their annual revenue in the industry:
Sudan
Beauty & Personal Care revenue: $1.35 billion
Projected annual growth rate: 2.13%
Angola
Beauty Industry: $1.64 billion (2023)
Projected annual growth rate: 7.73%
Ghana
Beauty Market: $1.68 billion (2023)
Projected annual growth rate: 3.86%
Kenya
Beauty Revenue: $2.03 billion
Projected annual growth rate: 7.17%
Algeria
Beauty Revenue: $2.10 billion
Projected annual growth rate: 1.30%
Tanzania
Beauty Revenue: $3.15 billion
Projected annual growth rate: 3.88%
South Africa
Beauty and Personal Care Market: $3.89 billion
Projected annual growth rate: 3.99%.
Ethiopia
Beauty Revenue: $4.45 billion
Projected annual growth rate: 4.29%
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Egypt
Beauty Revenue: $6.18 billion
Projected annual growth rate of 6.46%.
Nigeria
Beauty Revenue: $7.8 billion
Projected annual growth rate: 14.43%
