Market Insights Consumer Luxury Goods Prestige Cosmetics & Fragrances

Prestige Cosmetics - Africa

Africa

In Africa, the revenue generated in the Prestige Cosmetics market is a significant amount, reaching US$1.06bn in 2024.
This market is projected to experience a steady annual growth rate of 1.39% (CAGR 2024-2028).
When compared to the global market, in the United States leads in terms of revenue, generating a substantial US$5,284m in 2024.
In relation to the population, the per person revenue in Africa's Prestige Cosmetics market amounts to US$0.81 in 2024.
This indicates the potential for further growth and development in this market segment.
Africa's growing middle class is driving demand for prestige cosmetics, with Nigeria leading the market.

Key regions: Italy, Russia, United Kingdom, France, South Korea

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The Prestige Cosmetics market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Prestige Cosmetics industry.