Beauty and Personal Care Market in Latin America 2015-2019
About Beauty and Personal Care Products
Beauty and personal care products comprise skin care products, color cosmetics, deodorants, bath and shower products, hair care products, oral care products, toiletries, and sun care products. They can be categorized into synthetic and natural/organic. The use of beauty and personal care products has increased worldwide. This is attributed to various economic, social, and cultural changes happening across geographies. Increased income levels and availability of a plethora of brands for each product category have made consumers more conscious about beauty and personal care.
Technavio's analysts forecast the beauty and personal care market in Latin America to grow at a CAGR of 5.22% during 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the beauty and personal care market in Latin America for 2015-2019. To calculate the market size, the report considers the revenue generated from the following segments of the market:
Technavio Announces the Publication of its Research Report – Beauty and Personal Care Market in Latin America 2015-2019
Technavio recognizes the following companies as the key players in the Beauty and Personal Care Market in Latin America: Avon, Beiersdorf, Natura, Boticario, P&G and Unilever
Other Prominent Vendors in the market are: Chanel, Coty, Energizer Holdings, Estee Lauder, Henkel, J&J, Kao, Kimberly-Clark, Limited Brands, L’Oréal, M.A.C Cosmetics, Merc and Oriflame
Commenting on the report, an analyst from Technavio’s team said: “A recent trend has been witnessed in Latin America that is the growing popularity of BB creams. These creams were initially developed for the Asian population, but are now increasingly available in Latin American countries such as Brazil and Mexico with new shades being launched by vendors. These creams are expensive, but they are performing well in Latin America because they are perceived as a multifunctional cream and thus act as a money saver product. In 2012, L'Oréal's Garnier brand launched the first BB cream in Mexico and since then several premium and mass brands have also launched BB creams such as Oriflame and Avon. However, the demand for BB creams will lead to cannibalization of moisturizer, primer, foundation, and sunblock sales. Hence, the growing popularity of BB creams can affect the market both positively as well as negatively during the forecast period.”
According to the report, women play a crucial role in the beauty and personal care market in Latin America. The revenue and demand contributed by them are substantial. Participation of women in the workforce in Latin America has increased. As a result, women are gaining financial independence and decision-making power on household consumption. Increase in number of women in the workplace has raised their disposable income, thereby increasing expenditure for beauty products. The employment rate in Latin America for women aged above 15 is growing. The need to look fresh and presentable at the workplace is one of the key reasons for increase in expenditure on beauty products by working women. The per capita consumption of cosmetics by women has also risen, resulting in increased revenue for the beauty and personal care market in Latin America.
Further, the report states that one of the major challenges faced by vendors in the beauty and personal care market in Latin America is to sustain and grow market share.
Avon, Beiersdorf, Natura, Boticario, P&G, Unilever, Chanel, Coty, Energizer Holdings, Estee Lauder, Henkel, J&J, Kao, Kimberly-Clark, Limited Brands, L’Oréal, M.A.C Cosmetics, Merc, Oriflame.