Peru Personal Hygiene 26305

A Progressive Digital Media business
MarketLine Industry Profile
Personal Hygiene in
Peru
January 2012
Reference Code: 0088-0707
Publication Date: January 2012
WWW.MARKETLINE.COM
MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED
Peru - Personal Hygiene 0088 - 0707 - 2010
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EXECUTIVE SUMMARY
Market value
The Peruvian personal hygiene market grew by 3.2% in 2010 to reach a value of $121.7 .
Market value forecast

In 2015, the Peruvian personal hygiene market is forecast to have a value of $148.9 , an increase of 22.4% since 2010.
Market volume
The Peruvian personal hygiene market grew by 2% in 2010 to reach a volume of 60.3 liters.
Market volume forecast

In 2015, the Peruvian personal hygiene market is forecast to have a volume of 67.5 liters, an increase of 11.9% since
2010.
Category segmentation
Deodorants is the largest segment of the personal hygiene market in Peru, accounting for 59.5% of the market's total
value.
Geography segmentation
Peru accounts for 1% of the Americas personal hygiene market value.
Market share
maxingvest ag is the leading player in the Peruvian personal hygiene market, generating a 25.6% share of the market's
value.
Market rivalry
The Peruvian personal hygiene products market is fairly concentrated with the top three players holding 54.8% of the
market share.

TABLE OF CONTENTS
Executive Summary ....................................................................................................................................................... 2
Market value............................................................................................................................................................... 2
Market value forecast ................................................................................................................................................. 2
Market volume............................................................................................................................................................ 2
Market volume forecast .............................................................................................................................................. 2
Category segmentation .............................................................................................................................................. 2
Geography segmentation ........................................................................................................................................... 2
Market share .............................................................................................................................................................. 2
Market rivalry.............................................................................................................................................................. 2
Market Overview ............................................................................................................................................................ 7
Market definition ......................................................................................................................................................... 7
Market analysis .......................................................................................................................................................... 7
Market Data ................................................................................................................................................................... 8
Market value............................................................................................................................................................... 8
Market volume............................................................................................................................................................ 9
Market Segmentation ................................................................................................................................................... 10
Category segmentation ............................................................................................................................................ 10
Geography segmentation ......................................................................................................................................... 12
Market share ............................................................................................................................................................ 13
Market distribution .................................................................................................................................................... 14
Market Outlook ............................................................................................................................................................. 15
Market value forecast ............................................................................................................................................... 15
Market volume forecast ............................................................................................................................................ 16
Five Forces Analysis .................................................................................................................................................... 17
Summary .................................................................................................................................................................. 17
Buyer power ............................................................................................................................................................. 18
Supplier power ......................................................................................................................................................... 19
New entrants ............................................................................................................................................................ 20
Threat of substitutes................................................................................................................................................. 21
Degree of rivalry ....................................................................................................................................................... 22
Leading Companies ..................................................................................................................................................... 23

maxingvest ag .......................................................................................................................................................... 23
Unilever .................................................................................................................................................................... 25
Alicorp ...................................................................................................................................................................... 29
Macroeconomic Indicators ........................................................................................................................................... 32
Country Data ............................................................................................................................................................ 32
Appendix ...................................................................................................................................................................... 34
Methodology............................................................................................................................................................. 34
Industry associations ................................................................................................................................................ 35
Related MarketLine research ................................................................................................................................... 35

LIST OF TABLES
Table 1: Peru personal hygiene market value: $ , 2006–10 ........................................................................................... 8
Table 2: Peru personal hygiene market volume: liters, 2006–10 ................................................................................... 9
Table 3: Peru personal hygiene market category segmentation: % share, by value, 2006–2010 ................................ 10
Table 4: Peru personal hygiene market category segmentation: $ , 2006-2010 .......................................................... 10
Table 5: Peru personal hygiene market geography segmentation: $million, 2010 ....................................................... 12
Table 6: Peru personal hygiene market share: % share, by value, 2010 ..................................................................... 13
Table 7: Peru personal hygiene market distribution: % share, by value, 2010 ............................................................. 14
Table 8: Peru personal hygiene market value forecast: $ , 2010–15 ........................................................................... 15
Table 9: Peru personal hygiene market volume forecast: liters, 2010–15 .................................................................... 16
Table 10: maxingvest ag: key facts .............................................................................................................................. 23
Table 11: Unilever: key facts ........................................................................................................................................ 25
Table 12: Unilever: key financials ($) ........................................................................................................................... 26
Table 13: Unilever: key financials (€) ........................................................................................................................... 26
Table 14: Unilever: key financial ratios ......................................................................................................................... 27
Table 15: Alicorp: key facts .......................................................................................................................................... 29
Table 16: Alicorp: key financials ($) ............................................................................................................................. 30
Table 17: Alicorp: key financials (PEN) ........................................................................................................................ 30
Table 18: Alicorp: key financial ratios ........................................................................................................................... 30
Table 19: Peru size of population (million), 2006–10 ................................................................................................... 32
Table 20: Peru gdp (constant 2000 prices, $ billion), 2006–10 .................................................................................... 32
Table 21: Peru gdp (current prices, $ billion), 2006–10................................................................................................ 32
Table 22: Peru inflation, 2006–10 ................................................................................................................................ 33
Table 23: Peru consumer price index (absolute), 2006–10 .......................................................................................... 33
Table 24: Peru exchange rate, 2006–10 ...................................................................................................................... 33

LIST OF FIGURES
Figure 1: Peru personal hygiene market value: $ , 2006–10 .......................................................................................... 8
Figure 2: Peru personal hygiene market volume: liters, 2006–10 .................................................................................. 9
Figure 3: Peru personal hygiene market category segmentation: $ , 2006-2010 ......................................................... 11
Figure 4: Peru personal hygiene market geography segmentation: % share, by value, 2010 ...................................... 12
Figure 5: Peru personal hygiene market share: % share, by value, 2010 .................................................................... 13
Figure 6: Peru personal hygiene market distribution: % share, by value, 2010 ............................................................ 14
Figure 7: Peru personal hygiene market value forecast: $ , 2010–15 .......................................................................... 15
Figure 8: Peru personal hygiene market volume forecast: liters, 2010–15................................................................... 16
Figure 9: Forces driving competition in the personal hygiene market in Peru, 2010 .................................................... 17
Figure 10: Drivers of buyer power in the personal hygiene market in Peru, 2010 ........................................................ 18
Figure 11: Drivers of supplier power in the personal hygiene market in Peru, 2010 .................................................... 19
Figure 12: Factors influencing the likelihood of new entrants in the personal hygiene market in Peru, 2010............... 20
Figure 13: Factors influencing the threat of substitutes in the personal hygiene market in Peru, 2010 ........................ 21
Figure 14: Drivers of degree of rivalry in the personal hygiene market in Peru, 2010 .................................................. 22
Figure 15: Unilever: revenues & profitability ................................................................................................................. 27
Figure 16: Unilever: assets & liabilities ......................................................................................................................... 28
Figure 17: Alicorp: revenues & profitability ................................................................................................................... 31
Figure 18: Alicorp: assets & liabilities ........................................................................................................................... 31

MARKET OVERVIEW
Market definition
The personal hygiene market consists of retail sale of bath & shower products, deodorants and soap. The market is
valued according to retail selling price (RSP) and includes any applicable taxes. Any currency conversions used in the
creation of this report have been calculated using 2010 annual average exchange rates.
For the purpose of this report the Americas comprises Argentina, Brazil, Canada, Chile, Colombia, Mexico, Venezuela,
Peru, Uruguay and the US.
Market analysis
The Peruvian personal hygiene market grew at a fairly steady rate during the period 2006-2010, as a result of steady
sales growth in the bath and shower product category. Overall market growth is expected to accelerate in the
forthcoming five years.
The Peruvian personal hygiene market generated total revenues of $121.7 million in 2010, representing a compound
annual growth rate (CAGR) of 2.8% for the period spanning 2006-2010. In comparison, the US and Mexican markets
grew with CAGRs of 3.4% and 2.1% respectively, over the same period, to reach respective values of $6.4 billion and
$634.5 million in 2010.
Market consumption volumes increased with a CAGR of 1.4% between 2006 and 2010, to reach a total of 60.3 million
units in 2010. The market's volume is expected to rise to 67.5 million units by the end of 2015, representing a CAGR of
2.3% for the 2010-2015 period.
Deodorants sales proved the most lucrative for the Peruvian personal hygiene market in 2010, generating total revenues
of $72.4 million, equivalent to 59.5% of the market's overall value. In comparison, sales of soap generated revenues of
$37.4 million in 2010, equating to 30.7% of the market's aggregate revenues.
The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.1% for the five-year period 2010-
2015, which is expected to drive the market to a value of $148.8 million by the end of 2015. Comparatively, the US and
Mexican markets will grow with CAGRs of 2.3% each, over the same period, to reach respective values of $7.2 billion
and $709.2 million in 2015.

MARKET DATA
Market value
The Peruvian personal hygiene market grew by 3.2% in 2010 to reach a value of $121.7 .
The compound annual growth rate of the market in the period 2006–10 was 2.8%.
Table 1: Peru personal hygiene market value: $ , 2006–10
Year $ PEN € % Growth

2006 108.9 312.0 82.0
2007 111.7 320.1 84.1 2.6%
2008 114.7 328.7 86.4 2.7%
2009 118.0 338.1 88.8 2.9%
2010 121.7 348.8 91.6 3.2%
CAGR: 2006–10 2.8%
SOURCE: MARKETLINE MARKETLINE
Figure 1: Peru personal hygiene market value: $ , 2006–10

Market volume
The Peruvian personal hygiene market grew by 2% in 2010 to reach a volume of 60.3 liters.
The compound annual growth rate of the market in the period 2006–10 was 1.4%.
Table 2: Peru personal hygiene market volume: liters, 2006–10
Year liters % Growth

2006 57.1
2007 57.5 0.7%
2008 58.0 0.9%
2009 59.1 1.9%
2010 60.3 2.0%
CAGR: 2006–10 1.4%
Figure 2: Peru personal hygiene market volume: liters, 2006–10

MARKET SEGMENTATION
Category segmentation
Deodorants is the largest segment of the personal hygiene market in Peru, accounting for 59.5% of the market's total
value.
The Soap segment accounts for a further 30.7% of the market.
Table 3: Peru personal hygiene market category segmentation: % share, by value, 2006–2010
2006-10
Category 2006 2007 2008 2009 2010
CAGR(%)
Deodorants 59.7% 59.6% 59.5% 59.5% 59.5% 1.8%
Soap 30.6% 30.7% 30.7% 30.8% 30.7% 1.9%
Bath &
shower 9.6% 9.7% 9.7% 9.8% 9.8% 2.1%
products
Total 100% 100% 100% 100% 100% 6%
Table 4: Peru personal hygiene market category segmentation: $ , 2006-2010
Category 2006 2007 2008 2009 2010

Deodorants 65.0 66.6 68.3 70.2 72.4
Soap 33.3 34.3 35.2 36.3 37.4
Bath & shower
10.5 10.9 11.2 11.5 11.9
products
Total 108.8 111.8 114.7 118 121.7

Figure 3: Peru personal hygiene market category segmentation: $ , 2006-2010

Geography segmentation
Peru accounts for 1% of the Americas personal hygiene market value.
Argentina accounts for a further 4.6% of the Americas market.
Table 5: Peru personal hygiene market geography segmentation: $million, 2010
Geography 2010 %
Argentina 567.1 4.6
Chile 376.0 3.0
Colombia 322.0 2.6
Peru 121.7 1.0
Rest of the Americas 10,964.9 88.8
Total 12,351.7 100%
Figure 4: Peru personal hygiene market geography segmentation: % share, by value, 2010

Market share
maxingvest ag is the leading player in the Peruvian personal hygiene market, generating a 25.6% share of the market's
value.
Unilever accounts for a further 18.5% of the market.
Table 6: Peru personal hygiene market share: % share, by value, 2010
Company % Share
maxingvest ag 25.6%
Unilever 18.5%
Alicorp 10.8%
Others 45.2%
Total 100%
Figure 5: Peru personal hygiene market share: % share, by value, 2010

Market distribution
Independent Retailers form the leading distribution channel in the Peruvian personal hygiene market, accounting for a
38.5% share of the total market's value.
Supermarkets / hypermarkets accounts for a further 26.1% of the market.
Table 7: Peru personal hygiene market distribution: % share, by value, 2010
Channel % Share
Independent Retailers 38.5%
Supermarkets / hypermarkets 26.1%
Specialist retailers 15.4%
Others 20.1%
Total 100%
Figure 6: Peru personal hygiene market distribution: % share, by value, 2010

MARKET OUTLOOK
Market value forecast
In 2015, the Peruvian personal hygiene market is forecast to have a value of $148.9 , an increase of 22.4% since 2010.
The compound annual growth rate of the market in the period 2010–15 is predicted to be 4.1%.
Table 8: Peru personal hygiene market value forecast: $ , 2010–15
Year $ PEN € % Growth

2010 121.7 348.8 91.6 3.2%
2011 125.9 361.0 94.8 3.5%
2012 130.8 374.8 98.5 3.8%
2013 136.3 390.6 102.6 4.2%
2014 142.2 407.5 107.1 4.3%
2015 148.9 426.7 112.1 4.7%
CAGR: 2010–15 4.1%
Figure 7: Peru personal hygiene market value forecast: $ , 2010–15

Market volume forecast
In 2015, the Peruvian personal hygiene market is forecast to have a volume of 67.5 liters, an increase of 11.9% since
2010.
The compound annual growth rate of the market in the period 2010–15 is predicted to be 2.3%.
Table 9: Peru personal hygiene market volume forecast: liters, 2010–15
Year liters % Growth

2010 60.3 2.0%
2011 61.7 2.3%
2012 63.1 2.3%
2013 64.6 2.4%
2014 66.0 2.2%
2015 67.5 2.3%
CAGR: 2010–15 2.3%
Figure 8: Peru personal hygiene market volume forecast: liters, 2010–15

FIVE FORCES ANALYSIS
The personal hygiene market will be analyzed taking manufacturers of personal hygiene products as players. The key
buyers will be taken as distributors of personal hygiene products such as retailers, and packagers and suppliers of raw
materials such as surfactants, bio-fuels such as palm oil, aluminum salts, etc. as the key suppliers.
Summary
Figure 9: Forces driving competition in the personal hygiene market in Peru, 2010
The Peruvian personal hygiene products market is fairly concentrated with the top three players holding 54.8% of the
market share.
Independent retailers are the main buyers and may exert strong buyer power. Suppliers of ingredients and packaging are
smaller relative to manufacturers, which decreases supplier power in this market. However, they provide for a diverse
client base and do not rely on this particular market, boosting their power somewhat. Attempting to enter this market is
difficult, as new entrants will have to compete with large players benefiting from scale economies.

Buyer power
Figure 10: Drivers of buyer power in the personal hygiene market in Peru, 2010
In Peru, the main distribution channels for the personal hygiene products are independent retailers, which account for
38.5% of the sales value. Thus, the size of the average buyer is significant, which enhances their negotiating position
and therefore increases buyer power. Moreover, retailers often occupy a position of power in the supply chain which
allows them to negotiate favorable contracts with manufacturers. Consequently, this enhances buyer power. Although
products are not highly differentiated, commoditization is not an issue here and certain products manage to stand out
due to certain benefits and specific qualities (for example development of hypoallergenic deodorants). Margins, as well
as the presence of strong competitors, can make it difficult to achieve success in hygiene products market. Branding is
an important way of maintaining end-user loyalty, and as a result retailers are required to stock the more popular brands,
which reduces their bargaining strength and buyer power. Overall buyer power is assessed as moderate.

Supplier power
Figure 11: Drivers of supplier power in the personal hygiene market in Peru, 2010
Suppliers in the personal hygiene market include those providing and manufacturing raw materials such as surfactants,
bio-fuels such as palm oil, aluminum salts, etc; packaging; and equipment for the production of personal hygiene
products. The quality of many of the raw materials is highly important. Chemicals used in the manufacture of such
products must be up to certain standards, and for some ingredients there are no substitutes which tend to increase
supplier power. Suppliers are often small in scale compared to the largest manufacturers and consequently their power
is reduced, but this effect is mitigated somewhat by the fact that chemical producers gain revenues from a wide variety of
sources, reducing their dependence on personal hygiene product manufacturers. Overall supplier power is assessed as
moderate.

New entrants
Figure 12: Factors influencing the likelihood of new entrants in the personal hygiene market in
Peru, 2010
The growth within the Peruvian personal hygiene market has been relatively slow in recent years but there are
opportunities to gain market share particularly with the growth of niche sectors such as the male grooming market. This
makes the personal hygiene market attractive to prospective entrants. However, the major companies are large firms
whose scale economies allow them to compete more effectively on price, and invest in research and development
activities; therefore small scale companies entering the market may find it difficult to succeed. Substantial funds are
needed to start a successful business, with capital required for investment in production, distribution, and also
advertising (which is crucial for success in this market). Counterfeits of personal hygiene products can be found, and can
both dilute a company’s brand image, and also lead to a loss of revenue for the brand’s owner. It is also vitally important
for new entrants to find a place on the supermarket and drug store shelves to distribute their products widely; new
entrants must persuade retailers that it is worth displacing older brands to make way for a new, unknown product.
Overall, the likelihood of new entrants is moderate.

Threat of substitutes
Figure 13: Factors influencing the threat of substitutes in the personal hygiene market in Peru,
2010
For consumers, there exist possible substitutes for personal hygiene products: i.e. in the form of traditional, homemade
products. Deodorants can be made using alum, baking soda and rubbing alcohol; ingredients for homemade
antiperspirants may include rubbing alcohol, alum, rose water and regular water. While the cost of preparing such
products may be lower than branded ones, the preparation process is usually more difficult and may involve some basic
chemistry knowledge. Also gathering all ingredients may be time consuming and quality of homemade products is
expected to be lower than traditionally bought goods. Overall, the threat of substitutes is assessed as weak.

Degree of rivalry
Figure 14: Drivers of degree of rivalry in the personal hygiene market in Peru, 2010
The Peruvian personal hygiene market is dominated by a few multinational companies, namely maxingvest, Unilever and
Alicorp. Many of the market players sell similar products. This has led to a highly competitive environment with many
labels competing for the same share of the market. On the other hand, the wide range of product types offered by the
market leaders means companies are not reliant on any one category for their revenues. Fixed costs are high in this
market, as most companies own large production facilities. Most of these companies are geographically diversified which
weakens rivalry to some extent. Overall the competition level is assessed as strong.

LEADING COMPANIES
maxingvest ag
Table 10: maxingvest ag: key facts
Head office: Überseering 18, Hamburg, 22297, GER

Telephone: 49 40 63 87 0
Fax: 49 40 63 87 26 00
Website: www.maxingvest.de
Financial year-end: December
SOURCE: COMPANY WEBSITE MARKETLINE
maxingvest, formerly known as Tchibo Holding, is a privately held entity. It is the parent company of Tchibo and
Beiersdorf. Tchibo produces and supplies coffee and a range of other products, while Beiersdorf is an international
branded consumer goods company. maxingvest primarily operates in Europe. It is headquartered in Hamburg, Germany
and employs about 31,487 people.
The company also comprises asset management subsidiaries companies including Tchibo Anlagen-
Verwaltungsgesellschaft, Tchibo Beteiligungsgesellschaft, Olymp Vermogensverwaltung, Tchibo Holding Finance and
maxingvest Beteiligungsverwaltungs.
maxingvest operates as a global retail and fast moving consumer goods group. The company has a 100% share of
Tchibo and a 50.47% share in Beiersdorf. As a management holding company, maxingvest monitors and supports its
subsidiaries, which operate independently.
The company's Tchibo sub-group offers coffee and a range of other products and services. Tchibo offers services in
three divisions: food, non-food and coffee bars. The food division offers coffee assortments like Classic Range;
Espresso; Privat Kaffee; BioGenuss; Fresh Harvest; Instant Specialities; and Gala von Eduscho, and Cafissimo, a coffee
machine available in seven different varieties. In the non-food division, Tchibo offers travel, mobile and financial services.
In addition, the coffee bar division offers a range of coffee specialties, tea and snacks. It also sells related accessories as
well as house wares, clothing, furnishings, and other impulse items.
Beiersdorf offers its services through consumer business segment and Tesa segment. Through its consumer business
segment, it is engaged in the development, manufacture and marketing of skin and beauty care products. The segment
offers baby care; bath and shower products; deodorants; depilatories; fragrances; hair care; men's grooming products;
oral hygiene products; skin care; and bandages. The segment also offers professional wound care products.
These products are marketed across the globe under various brand names such as: 8X4 (personal hygiene products in
Germany and Japan); Nivea (skin creams, sun protection creams, personal hygiene and baby products); Eucerin
(cleansing and care products for different skin types); Labello (lip care products); Juvena (a Swiss brand providing facial
care and sun protection products, as well as cosmetic make-up); Florena (natural skin care products); SLEK (haircare
products) and Hansaplast and Elastoplast (wound care products). Nivea launched a number of products for men like
shaving soaps, creams, after shave balm, shower gels, scrubs and deodorants.
Tesa, a subsidiary of Beiersdorf, is a manufacturer of self-adhesive systems and product solutions for industrial
customers and consumers. It focuses on the electrical and electronics, automotive, as well as printing and paper
industries. Tesa also provides security solutions for product protection and identification through security labels and other
security technologies.

Beiersdorf announced its plan to sell its selective skin care brand Juvena and its premium hair care brand Marlies Moller
to Troll Cosmetics in Austria, in December 2010.
Key Metrics
The company recorded revenues of $12.7 billion in the financial year (FY) ended December 2010, an increase of 7.7%
over FY2009. The net profit of the company was $733.9 million in FY2010, an increase of 34.5% over FY2009.
The Beiersdorf division recorded revenues of $8.2 billion in FY2010, an increase of 7.8% over 2009.
Americas accounted for 10.7% of the total revenues in FY2010. Revenues from Americas reached $1.4 billion in
FY2010, an increase of 21% over FY2009.

Unilever
Table 11: Unilever: key facts
Head office: Unilever House, 100 Victoria Embankment, London EC4Y 0DY, GBR
Telephone: 44 20 7822 5252
Fax: 44 20 7822 5951
Local office: Avenue Francisco Grana 155, Urb. Santa Catalina, Lima 13, PER
Telephone: 51 1 411 1600
Fax: 51 1 411 1846
Website: www.unilever.com
Ticker: UL
Stock exchange: New York
Unilever is a global manufacturer and marketer of consumer goods in the food, personal and homecare segments.
Unilever operates under a dual structure. The group has two parent companies: Unilever NV and Unilever plc. Unilever
NV is a public limited company registered in the Netherlands, while Unilever plc is a public limited company registered in
the UK and Wales. The two parent companies, Unilever NV and Unilever plc, along with the group companies, operate
as a single economic entity: Unilever. It operates through subsidiaries in Germany, Switzerland, France, the UK, the US,
and China and has operations in over 170 countries.
The group's primary operating segments comprises three geographic regions: Asia, Africa, Central and Eastern Europe;
the Americas; and Western Europe.
Although Unilever's operations are managed on a geographical basis, the group manages its products under four
categories: savory, dressings and spreads; ice cream and beverages; personal care; and home care and other
operations. These categories are Unilever’s principal product areas.
The savory, dressings and spreads product category includes products like soups, bouillons, sauces, snacks,
mayonnaise, salad dressings, olive oil, margarines, spreads and cooking products such as liquid margarines, and frozen
food products. Unilever's major brands in this segment includes: Knorr, Hellmann's, Becel/Flora (Healthy Heart),
Rama/Blue Band (Family Goodness), Calve, Wish-Bone, Amora, Ragu and Bertolli. The company markets its frozen
food products under Findus, Sagit, Cogesal and Iglo brand names among others.
The ice cream and beverages product category includes sales of ice cream, tea-based beverages, weight management
products, and nutritionally enhanced staples sold in developing markets. Unilever's major brands in ice cream are sold
under the international Heart brand which includes Cornetto, Magnum, Carte d’Or and Solero, Wall’s, Kibon, Algida and
Ola. Its tea-based beverage brands include Lipton, Brooke Bond and PG Tips. In addition, Unilever has weight
management products such as Slim Fast, and nutritionally enhanced products include Annapurna and AdeS brands.
The personal care product category offers skin care and hair care products; deodorants and antiperspirants; and oral
care products. The company offers six global brands which are the core of the company's business in the mass skin
care, daily hair care and deodorants product areas that includes Dove, Lux, Rexona (including Sure and Degree),
Sunsilk (including Seda/Sedal), Axe/Lynx and Pond’s. Other key brands include Suave, Clear, Lifebuoy and Vaseline,
along with Signal and Close Up in the oral care category.
Home care and other operations include household products, such as laundry tablets, powders and liquids, soap bars
and cleaning products. Unilever's global brands in home care products include Cif, Comfort, Domestos, Omo, Radiant,
Surf and Sunlight brands. Other brands marketed by this segment include Omo Surf, Comfort, Radiant and Skip.

In December 2010, the company acquired the personal care business of the Sara Lee Corporation, which was
announced in September 2009. The Sara Lee brands include Sanex, Radox and Duschdas.
In May 2011, Unilever acquired Alberto Culver, the US based manufacturer and distributor of branded beauty care
products and the hair care products. Alberto Culver’s hair care brands include Alberto VO5, Nexxus, Just For Me,
TRESemme, Soft & Beautiful, Consort, Motions, and TCB.
Key Metrics
over FY2009. The net profit of the company was $5.6 billion in FY2010, an increase of 25.9% over FY2009.
The personal care division recorded revenues of $18.2 billion in FY2010, an increase of 16.2% over 2009.
The Americas accounted for 32.9% of the total revenues in FY2010. Revenues from the Americas reached $19.3 billion
in FY2010, an increase of 13.3% over FY2009.
Table 12: Unilever: key financials ($)
$ million 2006 2007 2008 2009 2010

Revenues 52,514.3 53,236.3 53,681.4 52,754.1 58,634.5
Net income (loss) 6,285.8 5,150.5 6,659.3 4,464.3 5,622.1
Total assets 49,109.8 49,414.5 47,877.8 49,035.6 54,534.5
Total liabilities 33,647.7 32,433.0 34,137.9 32,429.0 34,560.5
Employees 179,000 174,000 174,000 163,000 167,000
SOURCE: COMPANY FILINGS MARKETLINE
Table 13: Unilever: key financials (€)
€ million 2006 2007 2008 2009 2010

Revenues 39,642.0 40,187.0 40,523.0 39,823.0 44,262.0
Net income (loss) 4,745.0 3,888.0 5,027.0 3,370.0 4,244.0
Total assets 37,072.0 37,302.0 36,142.0 37,016.0 41,167.0
Total liabilities 25,400.0 24,483.0 25,770.0 24,480.0 26,089.0

Table 14: Unilever: key financial ratios
Ratio 2006 2007 2008 2009 2010

Profit margin 12.0% 9.7% 12.4% 8.5% 9.6%
Revenue growth 3.2% 1.4% 0.8% (1.7%) 11.1%
Asset growth (6.1%) 0.6% (3.1%) 2.4% 11.2%
Liabilities growth (17.4%) (3.6%) 5.3% (5.0%) 6.6%
Debt/asset ratio 68.5% 65.6% 71.3% 66.1% 63.4%
Return on assets 12.4% 10.5% 13.7% 9.2% 10.9%
Revenue per employee $293,376 $305,956 $308,514 $323,645 $351,105
Profit per employee $35,116 $29,601 $38,272 $27,388 $33,665
Figure 15: Unilever: revenues & profitability

Figure 16: Unilever: assets & liabilities

Alicorp
Table 15: Alicorp: key facts
Head office: Calle Chinchon No 980 San Isidro, Piso 1 San Isidro, Lima, PER
Telephone: 51 1 442 2552
Fax: 51 1 440 4948
Website: www.alicorp.com.pe
Ticker: ALICORC1
Stock exchange: Bolsa de Valores de Lima S.A.
Alicorp SAA is a Peru-based consumer goods company engaged in the food and personal hygiene sectors.
The company specializes in the production, distribution and commercialization of products for mass consumption,
industrial supplies and animal nutrition food. Its product portfolio includes oils for domestic and industrial use, coffee,
noodles, cereals, biscuits, oils and cooking fats for industrial use, flour for domestic and industrial use, ice creams,
soaps, domestic margarines, sweet breads, products for industrial food processing, sauces and semolina flour as well as
nutritionally balanced food for animals. It also produces and distributes cosmetics, detergents, as well as other hygiene
products. The company operates in Latin America, Central America, US, Europe and Asia. It is headquartered in Lima,
Peru.
The company’s operations are based around three lines of business which include products for mass consumption,
animal nutrition and products for industrial food processing.
The mass consumption products include oils, margarines, sauces, noodles, cookies, ice creams, laundry soaps and
detergents.
The company produces bread lards for the development of bread products and margarines for pastry making.
The company also possesses a portfolio of household flours, as well as flours for the production of pastries, breads,
noodles, panettone, and cookies. Lards and margarines are produced in Lima and Piura, whilst flours are produced in
plants located throughout Peru.
The company offers these products under the brands Marsella, Bolivar, Trome, Crisol, Cil and Gordito.
Key Metrics
over FY2009. The net profit of the company was $100.8 million in FY2010, an increase of 30.9% over FY2009.

Table 16: Alicorp: key financials ($)
$ million 2006 2007 2008 2009 2010

Revenues 736.2 978.6 1,278.9 1,292.0 1,309.1
Net income (loss) 39.0 42.6 28.8 77.0 100.8
Total assets 720.3 823.1 988.7 925.1 1,009.5
Total liabilities 324.0 367.5 525.4 413.5 416.7
Table 17: Alicorp: key financials (PEN)
PEN million 2006 2007 2008 2009 2010

Revenues 2,110.1 2,805.0 3,665.5 3,703.1 3,752.2
Net income (loss) 111.9 122.0 82.7 220.7 289.1
Total assets 2,064.5 2,359.3 2,833.7 2,651.7 2,893.4
Total liabilities 928.6 1,053.3 1,506.0 1,185.2 1,194.3
Table 18: Alicorp: key financial ratios
Ratio 2006 2007 2008 2009 2010

Profit margin 5.3% 4.3% 2.3% 6.0% 7.7%
Revenue growth 0.0% 32.9% 30.7% 1.0% 1.3%
Asset growth 0.0% 14.3% 20.1% (6.4%) 9.1%
Liabilities growth 0.0% 13.4% 43.0% (21.3%) 0.8%
Debt/asset ratio 45.0% 44.6% 53.1% 44.7% 41.3%
Return on assets 5.4% 5.5% 3.2% 8.0% 10.4%

Figure 17: Alicorp: revenues & profitability
Figure 18: Alicorp: assets & liabilities

MACROECONOMIC INDICATORS
Country Data
Table 19: Peru size of population (million), 2006–10
Year Population (million) % Growth

2006 28.2 1.2%
2007 28.5 1.2%
2008 28.8 1.1%
2009 29.1 1.1%
2010 29.5 1.1%
Table 20: Peru gdp (constant 2000 prices, $ billion), 2006–10
Year Constant 2000 Prices, $ billion % Growth

2006 70.5 7.7%
2007 76.8 8.9%
2008 84.3 9.8%
2009 85.0 0.9%
2010 92.5 8.8%
Table 21: Peru gdp (current prices, $ billion), 2006–10
Year Current Prices, $ billion % Growth

2006 92.3 16.3%
2007 107.2 16.2%
2008 126.2 17.7%
2009 127.2 0.8%
2010 155.0 21.9%

Table 22: Peru inflation, 2006–10
Year Inflation Rate (%)

2006 2.0%
2007 1.8%
2008 5.8%
2009 2.9%
2010 1.5%
Table 23: Peru consumer price index (absolute), 2006–10
Year Consumer Price Index (2000 = 100)

2006 112.3
2007 114.3
2008 120.9
2009 124.4
2010 126.3
Table 24: Peru exchange rate, 2006–10
Year Exchange rate ($/PEN) Exchange rate (€/PEN)

2006 3.3640 4.2251
2007 3.1985 4.3796
2008 2.9626 4.3477
2009 3.0536 4.2503
2010 2.8662 3.8061

APPENDIX
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross-
checked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in-house databases
provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company
profiles and macroeconomic & demographic information, which enable our researchers to build an accurate market
overview
Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and
trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
- National/Governmental statistics
- International data (official international sources)
- National and International trade associations
- Broker and analyst reports
- Company Annual Reports
- Business information libraries and databases
Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
then be refined according to specific competitive, regulatory and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date

Industry associations
International Fragrance Association
Square Marie-Louise 49, 1000 Brussels, Belgium
Tel.: 32 2 238 9904
Fax: 32 2 230 0255
www.ifraorg.org
Related MarketLine research

Industry profiles
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Personal Hygiene in Germany
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Personal Hygiene in Europe
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Personal Hygiene in Asia-Pacific
Personal Hygiene in South Africa
Personal Hygiene in Ireland
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Personal Hygiene in New Zealand
Personal Hygiene in Austria
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MarketLine Industry Profile

Reference Code: 0088-0707

Publication Date: January 2012

Peru - Personal Hygiene 0088 - 0707 - 2010

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1

Market value forecast

Market volume forecast

Peru - Personal Hygiene 0088 - 0707 - 2010

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2

Market value forecast ................................................................................................................................................. 2

Market volume forecast .............................................................................................................................................. 2

Category segmentation .............................................................................................................................................. 2

Geography segmentation ........................................................................................................................................... 2

Market share .............................................................................................................................................................. 2

Market Overview ............................................................................................................................................................ 7

Market definition ......................................................................................................................................................... 7

Market analysis .......................................................................................................................................................... 7

Market Data ................................................................................................................................................................... 8

Market Segmentation ................................................................................................................................................... 10

Category segmentation ............................................................................................................................................ 10

Geography segmentation ......................................................................................................................................... 12

Market share ............................................................................................................................................................ 13

Market distribution .................................................................................................................................................... 14

Market Outlook ............................................................................................................................................................. 15

Market value forecast ............................................................................................................................................... 15

Market volume forecast ............................................................................................................................................ 16

Five Forces Analysis .................................................................................................................................................... 17

Buyer power ............................................................................................................................................................. 18

Supplier power ......................................................................................................................................................... 19

New entrants ............................................................................................................................................................ 20

Degree of rivalry ....................................................................................................................................................... 22

Leading Companies ..................................................................................................................................................... 23

Peru - Personal Hygiene 0088 - 0707 - 2010

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3

Macroeconomic Indicators ........................................................................................................................................... 32

Country Data ............................................................................................................................................................ 32

Industry associations ................................................................................................................................................ 35

Related MarketLine research ................................................................................................................................... 35

Peru - Personal Hygiene 0088 - 0707 - 2010

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4

Table 2: Peru personal hygiene market volume: liters, 2006–10 ................................................................................... 9

Table 4: Peru personal hygiene market category segmentation: $ , 2006-2010 .......................................................... 10

Table 8: Peru personal hygiene market value forecast: $ , 2010–15 ........................................................................... 15

Table 10: maxingvest ag: key facts .............................................................................................................................. 23

Table 11: Unilever: key facts ........................................................................................................................................ 25

Table 12: Unilever: key financials ($) ........................................................................................................................... 26

Table 13: Unilever: key financials (€) ........................................................................................................................... 26

Table 14: Unilever: key financial ratios ......................................................................................................................... 27

Table 15: Alicorp: key facts .......................................................................................................................................... 29

Table 16: Alicorp: key financials ($) ............................................................................................................................. 30

Table 17: Alicorp: key financials (PEN) ........................................................................................................................ 30

Table 18: Alicorp: key financial ratios ........................................................................................................................... 30

Table 19: Peru size of population (million), 2006–10 ................................................................................................... 32

Table 21: Peru gdp (current prices, $ billion), 2006–10................................................................................................ 32

Table 22: Peru inflation, 2006–10 ................................................................................................................................ 33

Table 23: Peru consumer price index (absolute), 2006–10 .......................................................................................... 33