08 March 2013 20:25 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Procter & Gamble (P&G), a global household and personal care sector producer, is focusing on expanding its presence in emerging markets.
“P&G is focused on our top 10 developing markets where growth prospects are highest, including the important ‘BRIC’ markets of Brazil, Russia, India and China,” said Tom Nelson, global director of customer business development for P&G Chemicals. “These four countries have seen an average of 20% sales increase in the last decade.”
P&G’s sales growth in developing markets has been strong over the past 10 years, according to the company’s 2012 annual report.
Developing markets are now a $32bn (€24bn) business for P&G, generating 38% of sales and 44% of unit volume, according to the report.
“Three years ago, we made a plan to expand further in these markets, and we’re growing at nearly double the rate of the underlying markets,” Nelson said.
Currently, 62% of P&G’s market sales are in developed countries, according to the company.
The company is focusing resources on the 40 largest and most profitable businesses, most of which are in developed markets, according to Nelson.
P&G Chemicals, based in Cincinnati, Ohio, is a large producer of oleochemicals globally.
“P&G Chemicals is supporting P&G growth in these regions by continuing to be a dependable pipeline of oleochemicals,” Nelson said.
US oleochemical producers include Procter & Gamble, Vantage Oleochemical, Emery Oleochemical, Twin Rivers Technology and Peter Cremer North America.
($1 = €0.76)
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