Beauty & Personal Care - Gambia

Gambia

The Beauty & Personal Care market in Gambia is projected to generate a revenue of US$145.00m in 2024.
It is expected to experience a steady annual growth rate of 4.92% (CAGR 2024-2029).
The largest segment within this market is the Personal Care segment, which is estimated to have a market volume of US$68.55m in 2024.
When compared globally, in the United States stands out as the country generating the highest revenue in the Beauty & Personal Care market, with a staggering amount of US$101bn in 2024.
In terms of per capita revenues, each individual in Gambia is expected to contribute US$51.03 in 2024.
Furthermore, online sales are anticipated to account for 2.6% of the total revenue in the Beauty & Personal Care market by 2024.
Gambia's Beauty & Personal Care market is witnessing a surge in demand for natural and organic products, driven by a growing awareness of sustainability and health-consciousness among consumers.

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

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Analyst Opinion

The Beauty & Personal Care market in Gambia is experiencing minimal growth, influenced by factors like limited access to high-quality products, economic constraints, and growing competition from international brands, which challenge local preferences and affordability.

Customer preferences: In Gambia, consumers are increasingly prioritizing natural and locally sourced beauty products, reflecting a cultural shift towards sustainability and authenticity. This trend is fueled by a younger demographic that values eco-friendly practices and supports local artisans. Additionally, there is a growing interest in personalized skincare solutions, as individuals seek products tailored to their unique skin types and concerns. Social media influence is also rising, with beauty influencers shaping consumer preferences and driving demand for innovative, culturally relevant beauty offerings.

Trends in the market: In Gambia, the Beauty & Personal Care market is experiencing a notable shift towards natural and locally sourced products, driven by a younger, environmentally conscious consumer base. This demographic is increasingly favoring brands that prioritize sustainability and authenticity, creating opportunities for local artisans and small businesses to thrive. Additionally, there is a rising demand for personalized skincare solutions, as consumers seek products that address individual skin types and concerns. Social media platforms are amplifying these trends, with beauty influencers playing a pivotal role in shaping preferences and fostering a community around innovative, culturally relevant beauty offerings.

Local special circumstances: In Gambia, the Beauty & Personal Care market is influenced by its rich cultural heritage and diverse natural resources, which inspire the formulation of unique, locally sourced products. The country's favorable climate allows for the cultivation of indigenous ingredients, appealing to consumers seeking authenticity and sustainability. Additionally, the emphasis on traditional beauty practices is woven into the social fabric, encouraging the resurgence of artisanal methods. Regulatory support for small businesses further empowers local entrepreneurs, fostering innovation and community engagement in the beauty sector.

Underlying macroeconomic factors: The Beauty & Personal Care market in Gambia is significantly shaped by macroeconomic factors such as national economic stability, consumer purchasing power, and global market trends. The country's economic growth, driven by agricultural exports and tourism, enhances disposable income, allowing consumers to invest in beauty products. Additionally, global trends towards natural and organic products align with local resource availability, promoting sustainable consumption. Fiscal policies that support small businesses and local entrepreneurship further stimulate market innovation. Moreover, a growing interest in e-commerce and digital marketing presents new avenues for reaching consumers, enhancing market dynamics in this vibrant sector.

Methodology

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.