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As Market Slows Down, Beauty And Personal Care Companies Look For Other Sources Of Growth

November 15, 2013: 12:00 AM EST
After proving its resilience to the global economic slowdown by achieving a 5 percent CAGR in 2007–2012, the beauty and personal care market appears to be slowing down, according to market research firm Euromonitor. In the first half of 2013, Unilever, L’Oréal, and Colgate, reported slower growth compared with the same period in 2012. Also, market growth rates in China and Brazil are slowing down, while recovery in Western markets remains tentative and slow. Beauty and personal care vendors need to tap into other areas promising growth potential including ethnic beauty in Western markets, creating partnerships with electronics companies, and collaborating with fashion brands.
Oru Mohiuddin - Senior Analyst, Beauty and Personal Care, "Underexplored Beauty Segments to Expand Future Revenue Scope", Euromonitor International, November 15, 2013, © Euromonitor International
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