Beauty and personal care is a large and strong industry in Guatemala, with a wide variety of products, brands and sizes seen in the market. It is dominated by mass brands, with a large spectrum of products available, ranging from economy brands and products that cater to the lower-end of the market, usually with standard and low-priced products; standard brands and products that cater to the middle to upper-end of the market, to higher-priced mass brands that are promoted as premium products.
Guatemala is a country with two very different types of consumers. The first, which is also the largest, is the middle to lower-end of the market, with consumers having tight budgets and price playing a very important role in the products purchased and used.
There are many companies competing in beauty and personal care in Guatemala, with both international and domestic companies present. International companies such as Colgate-Palmolive, Procter & Gamble, Belcorp and Avon tend to be more dynamic and are constantly introducing formula improvements and new products, and investing in marketing and promotional campaigns which allow them to create strong brand recognition and loyalty.
New product launches are constantly seen in beauty and personal care in Guatemala. Most tend to be formula improvements, usually introduced by leading brands in the market.
As globalisation continues to grow worldwide, and as consumers in Guatemala have more access to the internet and to the fashion and beauty trends seen in other countries, such as the US and Mexico, players are expected to respond quickly to these trends and launch more products that respond to these global needs. Large multinational companies are expected to benefit the most from these trends, as they tend to have large investment budgets for research, development and marketing campaigns, which now capture a global consumer base.
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Discover the latest market trends and uncover sources of future market growth for the Beauty and Personal Care industry in Guatemala with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Beauty and Personal Care market research database.