Industry awareness of Ukraine personal care market increases

By Louise Prance

- Last updated on GMT

Related tags Personal care market Eastern europe Russia

The prominence of the Ukraine personal care market is steadily
increasing, now only second to Russia in Eastern Europe, the region
will be a prime focus of this years In Cosmetics event.

Due to the increased market activity, the Ukraine industry is a highlight of the Eastern European leg of the show, set to take place in Moscow from 25-26 October this year. According to data from Euromonitor International the overall cosmetics market has grown by 17 per cent in 2006, reaching $2.38bn - accounting for 13 per cent of all Eastern European cosmetics and toiletry sales. Further growth is expected due to Ukrainian consumer's increased expenditure, with the market set to grow up to $8bn in the coming years. Indeed, the country's market growth is making it a prime target for manufacturers attempting to cash into significant opportunities, which at present has little competition. However, this is no doubt set to change, as each sector in the market posts increased sales growth and attracts multinationals eager to capitalise on the open market. Decorative cosmetics is leading the market, followed by the bath and shower segment, with skin care bringing up the rear in third place. However, the hair care segment is a key area pitted for further dynamic growth. According to Euromonitor International the sector was expected to see growth of 19 per cent in current value terms in 2005 to reach almost Hr1.6 billion - driven by new product developments and the emergence of new brands. This sales growth is expected to boom in coming years with sales expected to reach a value of Hr3.5 billion by 2010. However, Ukraine hair care consumers are not prepared to spend more on premium positioned products, therefore paving the way for multinationals to increase their foothold in the region with mass-market products that target the more dynamic segments of conditioners, styling agents and shampoos. Indeed, based on year-to-year growth conditioners came out on top, increasing 31.7 per cent from 2005-2006. Styling agents came in second with a percentage growth of 23.8, while perms and relaxants bought up the rear only increasing 6 per cent.

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