Market Insights Consumer Beauty & Personal Care Cosmetics

Natural Cosmetics - Madagascar

Madagascar

in Madagascar, a country known for its natural beauty and diverse flora, is not exempt from the global trend of the Natural Cosmetics market.
In 2024, the revenue in this market segment amounted to US$25.81m, showcasing the growing interest and demand for natural beauty products.
Looking ahead, the market is projected to experience a steady annual growth rate of 3.61% from 2024 to 2029 (CAGR 2024-2029), further solidifying its position as a lucrative industry.
Although in Madagascar has yet to reach the revenue levels seen in larger economies like in China, where the market generated a staggering US$3,102m in 2024, the potential for growth is evident.
In terms of per person revenues, in Madagascar generated US$0.83 in 2024, indicating the willingness of individuals to invest in natural cosmetics despite economic constraints.
As the market continues to expand, it is expected that this figure will rise, contributing to the overall economic development of the country.
In Madagascar, the market for natural cosmetics is flourishing due to the country's rich biodiversity and traditional knowledge of herbal remedies.

Key regions: United Kingdom, Indonesia, India, Canada, Worldwide

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.