GHANA COSMETIC AND PERSONAL CARE MARKET

Major Ghana Cosmetic and Personal Care Market Drivers

The Ghana cosmetic and personal care market is estimated to rise due to a shift in demand towards luxurious and premium cosmetic products, an increase in per capita income, easy availability of luxurious brands on e-commerce platforms, and growth in new product development. The rising desire for anti-aging cosmetic goods is a key factor of growth in the market for cosmetic and personal care in Ghana. Skin aging is a key concern in Ghana, with tension, stress, and anxiety being recognized as primary factors. This concern has been powered during the COVID-19. The increasing demand for anti-aging products has led to an increase in popularity. Active ingredients likewise vitamin C, vitamin A, hyaluronic acid, peptides, and hydroxy acids including lactic acid, citric, and glycolic are commonly integrated efficiently in these products. They not only rejuvenate skin, but they are also eco-friendly and usually free of side effects. Thereby, the demand for these beauty products continues to rise.

Nanotechnology has generated new opportunities in cosmetic and personal care products, offering different benefits to consumers. In cosmetics, it has been presented to improve both the entrapment effectiveness and dermal penetration of active ingredients. In addition, nanotechnology enables precise control of drug release, improves physical stability, enhances moisturizing capabilities, and delivers superior UV protection. In addition, the significant investment in research and development to incorporate nanotechnology into beauty and personal care products is propelling needs within the industry.

Key players in the USD 670 billion global beauty and cosmetic industry are capitalizing on the projected growth in sub-Saharan Africa. The SSA beauty market is projected to double over the next decade, propelled by factors including a rising population projected to reach 2.4 billion individuals by 2050, the emergence of an increasing middle class, and rapid modernization and urbanization. South Africa and Nigeria stand out as the largest markets for these products across SSA, followed by Ethiopia, Ghana, Kenya, and Cameroon, which represent 5 key frontrunner markets.

In Ghana, different suppliers of cosmetics and personal care items are involved in both retail and wholesale functions. The main hub of activity is typically concentrated in the central business district, where retailers regularly procure assorted quantities of dissimilar brands to resell in network of outlets. The cosmetics and personal care industry is both lucrative and competitive, with local producers witnessing growth. The influx of new foreign products is contributing to this market growth in Ghana, with the most sough-after items being imported from Nigeria, Togo, Europe, and others.

Segments covered in the Report:

The Ghana Cosmetic and Personal Care Market has been segmented on the basis of Category and Distribution Channel. Based on the Category, the market is segmented into Skin Care & Sun Protection, Hair Care & Hair Styling Products, Makeup Colour Cosmetics, Deodorants & Fragrance. Based on the Distribution Channel, the market is segmented into General & Departmental Store, Supermarket/Hypermarket, online.

Market Segmentation

Ghana Cosmetic and Personal Care Market by Category

• • Skin Care & Sun Protection
  • Hair Care & Hair Styling Products
  • Makeup Colour Cosmetics
  • Deodorants & Fragrance

Ghana Cosmetic and Personal Care Market by Distribution Channel 

• • General & Departmental Store
  • Supermarket/Hypermarket
  • Online