Beauty is experiencing a resurgence, according to Mintel. The market research firm partnered with economic forecaster The Economist Intelligence Unit to predict key trends in various consumer goods categories in emerging markets in the UK and U.S. Their findings are reported in the paper, ’Convergence with Divergence.’
Providing an in-depth picture of micro and macro trends, the report reveals that consumer spending in emerging markets -- including China, India, Mexico, Turkey and South Africa -- is expected to grow between 7.7% and 15.2% a year between 2013 and 2016, compared with 4.5% in the U.S.
"The U.S. will grow more slowly than those emerging economies, but will experience stronger demand in beauty, soft drinks and clothing. The U.S. also illustrates how innovation is key to market development in mature markets," said Peter Ayton, global consumer analyst, Mintel.