Market Insights Consumer Beauty & Personal Care Skin Care

Body - Nigeria

Nigeria

In Nigeria, the revenue generated in the Body market in 2024 amounts to US$0.86bn.
Looking ahead, the market is projected to experience an annual growth rate of 14.33% (CAGR 2024-2029).
It is worth noting that in a global comparison, in China generates the highest revenue in this market, with a total of US$4,339m in 2024.
When considering the population figures, the per person revenue generated in Nigeria in 2024 is US$3.77.
In Nigeria, the trend in the body market segment is a growing demand for natural and organic skincare products.

Key regions: South Korea, India, Canada, Singapore, United States

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.