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The worsening economic climate in many developed countries, particularly the US, and signs of a slowdown in penetration in emerging markets proved a drag on growth. These trends were partially offset by strong growth in emerging markets, continuing premiumization and product innovation across all sectors.
No Changes in Global Top 10
The global rankings of major cosmetics and toiletries manufacturers have not changed since 2006. Procter & Gamble, L’Oréal and Unilever occupy the top three places globally, accounting for 30% of the market. Unilever demonstrated the strongest growth, 7.7% in 2007, while Procter & Gamble and L’Oréal increased sales by roughly 5.5% each. Of the top 10 global players Beiersdorf showed the healthiest growth, benefiting from its strong position in Eastern Europe and the acquisition of C-Bons in China.
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Favorable economic conditions in emerging markets benefited smaller local players. Companies such as Natura and O’Boticario in Brazil, Kalina and Faberlic in Russia, Jiangsu Longliqi and La Fang International in China, and Godrej and Dabur in India, showed very strong growth in their domestic markets, often outpacing multinationals.