14 September 2012 17:18 [Source: ICIS news]
Correction: In the ICIS story headlined "Surfactant demand set to rise in eastern Europe - analyst" dated 14 September 2012, please read in the second and third paragraphs amendments to eastern and western Europe volumes for 2011 and 2016 ... A corrected story follows.
BUDAPEST (ICIS)--Although total sales in the beauty and personal care industry have continued to grow during unstable times, mature economies in western Europe have been impacted more than developing economies in eastern Europe, an analyst said on Friday.
Data from market analyst Euromonitor International, presented at the 1st ICIS European Surfactants Conference in Budapest, Hungary, showed that future demand for surfactants in eastern Europe in this sector is expected to grow from around 90,000 tonnes in 2011 to 106,000 tonnes in 2016.
This compares with 306,000 tonnes of surfactant use in beauty and personal care in western Europe in 2011, usage which is projected to grow to 335,000 tonnes in 2016.
John Madden, global head of ingredients research at the firm, said; “prospects for further growth are much stronger in eastern Europe than in the west … driven primarily by exceptional demand in ?xml:namespace>
Sales in western Europe continue to be hampered by significant consumer cut backs in Greece, Portugal and Spain, despite increased growth in Turkey, which remains “the country for surfactant suppliers to watch out for,” Madden added.
Global sales in the beauty and personal care sector was $425bn (€327bn) in 2011, this is forecast to increase to $500bn by 2016.
($1 = €0.77)
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