The beauty and personal care market in Latin America is segmented by product (sun care, oral care, male grooming, color cosmetics, deodorants and bath products, fragrances, hair care, and skin care), by price positioning (Mass and premium), and by the key leading countries (Colombia, Venezuela, Brazil, Argentina, Chile, Peru, and Mexico).
Technavio analysts estimate the beauty and personal care market in Latin America to grow at a CAGR of around 5% during the forecast period of 2014-2019. Brazil dominates the market in terms of demand, accounting for almost 60% of the total market share. Factors such as the rise in consumer concerns about beauty, increase in disposable income of households, and the availability of innovative products promote the prospects of growth in this market.
The new market research report from Technavio provides a breakdown and analysis of the beauty and personal care market in Latin America by product.
“The skin care segment currently dominates the market and will continue to do so during the next five years as a result of the consumers’ increasing desire to reduce wrinkles and whiten the skin. Manufacturers in this region are also innovating new skin-care products that contain a mixture of natural and organic ingredients, in an attempt to tap into new customer groups. The launch of new products like Neutrogena’s Natural collection also bolster the demand for skin-care products as they are natural and free from parabens and petrochemicals,” says Sriram Mohan, Lead Analyst, Food and Retail, Techanvio Research.
The report also segments the market by price positioning and includes the mass personal care segment and the premium personal care segment. The mass personal care segment dominates the market, accounting for close to 90% of the total market share. Recently, it has been noticed that the consumers’ demand for premium products is increasing, and this trend is witnessed in regions like Chile, Costa Rica, and Mexico.
Latin America: Beauty and Personal Care Market Segmentation by Price Positioning
Source: Technavio Research
Top companies in this market include Avon Products, Beiersdorf AG, Natura Cosméticos SA, O Boticário, P&G Co., and Unilever Group. The report provides an overview of these companies, their financial overview, business strategies, and recent developments, as well as an in-depth discussion of the main market drivers, challenges, and trends.
A more detailed analysis is available in the Technavio report Beauty and Personal Care Market in Latin America: Forecast 2015-2019. We can customize reports by other regions and specific segments upon request.
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