By  on February 8, 2008

Look at the global standings in cosmetics, fragrances and hygiene products and you might be in for a jolt: Brazil, a South Americancountry with a per capita annual income of under $9,000, ranks as the world’s third largest market. And it is nowhere nearsaturated. “No doubt about it, we expect continued growth,” says João Carlos Basilio da Silva, president of theBrazilian Toiletry, Perfumery and Cosmetic Association, or ABIHPEC.

Total estimated sales in Brazil for 2007 stood at over $11 billion, a 13 percent increase over 2006, topping the average 11 percentannual growth over the previous 11 years, according to ABIHPEC. Wall Street investment bank Goldman Sachs offers a more conservativenumber for growth in what it labels the “core market,” but even then the average increase of 8.4 percent per year from 2002to 2006 amounts to over three times the 2.5 percent average annual growth in the Brazilian gross domestic product for the same period.Annual spending per capita in Brazil stands at $100, behind the $174 in the U.S., but ahead of Russia’s $60, an emerging country ata comparable stage of economic development, says Goldman Sachs analyst Daniela M. Bretthauer.

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