LONDON: The global cosmetics and toiletries industry last year enjoyed its highest rate of growth since 2001, reports researcher Euromonitor International.
Trailblazing the sector's overall 5.5% growth were the Latin American and Eastern European regions - each registering a sales increase of 10.7%.
By comparison expansion in western Europe (3.2%) and North America (3.0%) was modest, outperformed by key markets in Asia Pacific, notably China with 10.8% growth.
Fragrances also staged an unexpected resurgence, third in line after the sun and baby care sectors with an increase of 7%.
According to Euromonitor's Briony Davies: "It has become clear that the fragrances sector presents greater promise than perceived back in 2005.
"We believe bespoke fragrances (to cater for local consumers) will hold the key to unlocking the latent growth in Asia Pacific, especially in China."
Data sourced from Euromonitor International; additional content by WARC staff