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Euromonitor International predicts China will become the world's largest economy in 2017; emerging markets expected to overtake developed countries in their share of global economy in Purchasing Power Parity terms in 2013.
Senior Euromonitor analyst Oru Mohiuddin notes, "With a forecast 5.2% CAGR, the Middle East and Africa is set to be the second leading regional market for beauty and personal care over 2012–2017."
The fragrance company's largest markets—North America, Western Europe and Asia—saw sales increases of 28%, 24% and 29%, respectively, while Eastern Europe, the Middle East, and Central and South America reported sales increases of 96%, 9% and 41%, respectively.
The final lineup for the 18 beauty brands that will be featured as part of the Discover Beauty pavilion at the 2013 Cosmoprof North America is now available.
Estée Lauder’s good performance was broad based, generating local currency sales gains in each of its geographic regions and most product categories.
Nivea recorded sales growth of 5.7% as against the prior-year quarter, and Eucerin generated a 9.4% increase in sales as of the end of the period, while La Prairie saw an 8.2% increase.
Fragrance sales in Europe grew 33% (at constant rates) for the company during the quarter.
The results represent a 19% increase over the same quarter in 2012, and in greater China, Nu Skin's first quarter revenue increased 90% to $175.7 million, with mainland China's local-currency revenue growing 141%.
North America and Asia Pacific drop for Avon, but overall results better than expected.
Highlights from the report include strong growth in the consumer products, L'Oréal Luxe and active cosmetics divisions, while professional products weakened. Also, the company saw new records for market share in Western Europe and North America.