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L'Oreal is the world's largest producer of beauty and personal care products (e.g. perfume, makeup, shampoo).
Traditionally women aged 15-30 formed the consumption base for cosmetics companies. Since 2001 7 million new men consumers entered the cosmetics market. This growth is shown in the accompanying table. Men are beginning to purchase facial skincare products.
As emerging markets in Asia, Africa, and South America grow, income growth will spur consumption. This presents an opportunity for consumer product companies like L'Oreal. Each year 60 million new consumers achieve an income level that allows them to buy more sophisticated cosmetics products. This demand growth will be seen in both the middle and high income segments of the consumer population as seen in the table.