Indonesia and Turkey Next Hot Spots for Cosmetics

The cosmetics and toiletries markets in Indonesia and Turkey are showing potential for growth, according to the latest research from Euromonitor International, attracting interest from a growing number of international cosmetics players.

In Indonesia the cosmetics and toiletries market is predicted to grow by over 34% between 2006 and 2011 according to Euromonitor’s forecasts, while the market in Turkey looks set to offer longer term growth as its troubled economy begins to recover.

The growth in the cosmetics and toiletries markets in Indonesia and Turkey is being driven by growing GDPs (up by 62% and 173% respectively between 2001 and 2005) and large populations. Diana Dodson, senior cosmetics and toiletries industry analyst at Euromonitor International explains, “Both Indonesia and Turkey have the makings of important consumer markets. Both countries are characterized by rapid urbanization, emerging middle classes and low cosmetics usage, making them the perfect target markets for multinational companies.”