According to the CITIC Securities Research Report, the African personal care industry has a market size CAGR of 6.8% from 2020 to 2024, leading the world in growth rate. In the future, population growth, increased penetration rate and frequency of use, and consumption upgrades are all expected to drive the scale of the industry to maintain rapid growth, and there is plenty of room for growth. Barriers to entry into the African personal care market are high. Enterprises face challenges such as weak infrastructure, dependence on imports of raw materials, lack of mature distribution systems, market gridding, and scarcity of high-end talents. To achieve long-term development, enterprises must set up local factories and implement detailed local operations. Based on the characteristics of local products, production, and channels, CITIC Securities believes that leading Chinese enterprises that have the advantage of “integrating industry and trade” and can further cultivate the local area have remarkable advantages, and are expected to fully enjoy the dividends of industry development.

According to the CITIC Securities Research Report, the African personal care industry has a market size CAGR of 6.8% from 2020 to 2024, leading the world in growth rate. In the future, population growth, increased penetration rate and frequency of use, and consumption upgrades are all expected to drive the scale of the industry to maintain rapid growth, and there is plenty of room for growth. Barriers to entry into the African personal care market are high. Enterprises face challenges such as weak infrastructure, dependence on imports of raw materials, lack of mature distribution systems, market gridding, and scarcity of high-end talents. To achieve long-term development, enterprises must set up local factories and implement detailed local operations. Based on the characteristics of local products, production, and channels, CITIC Securities believes that leading Chinese enterprises that have the advantage of “integrating industry and trade” and can further cultivate the local area have remarkable advantages, and are expected to fully enjoy the dividends of industry development.