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Value of the South African Cosmetics Market The value of the local cosmetics industry has been estimated at R25bn at retail level and R18bn at the manufacturing level. Although multinational companies dominate this sector, there are many small cosmetic manufacturing companies as well as more than 1.1 million independent direct sellers who sold cosmetics to the value of R7.3bn in 2014. Substantial investment into research and development and manufacturing capacity continues to be made especially in the local sector black hair care and beauty market. Of growing importance is export to other sub-Saharan counties, with the value of exported cosmetics increasing by 60.7% between 2013 and 2014, reaching approximately R6.7bn. Regulatory Challenges Changes to the regulation of the domestic cosmetic industry, which has until now been self-regulated, are being made. Currently local manufacture is in line with standards set by the South African Bureau of Standards (SABS) which are aligned to the International Standards Organisation (ISO). However, the local sector will soon be regulated by the South African Health Products Regulatory Agency (SAHPRA) and is already subject to the conditions of the Nagoya Protocol. Problems with the sharing of profits with communities when indigenous plant species are utilised, as well as the backlog in the issuing of permits for the use of indigenous and endangered plant species are proving problematic for local niche cosmetic manufacturers. Report Coverage This report focuses on the local cosmetics manufacturing and retail market which despite tough economic conditions has shown growth of between 7% and 10% per annum. The report also profiles 83 industry players, ranging from the overall market leader, Revlon whose recent acquisitions signal a focus on the fragrance and youth market, to innovative small enterprise, I-Slices SA, which manufactures and wholesales I-Slices Professional & Biotanix ranges to local and global markets.
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