Executive Summary

May 2018
Inconsistent government policies continue to deter growth in 2017

Inconsistent economic policies and regulations issued by the Venezuelan government continue to negatively impact the performance of beauty and personal care. In 2012, the government set price ceilings on beauty and personal care products regarded as essential, such as shampoos, 2-in-1 products, conditioners, bar soap, toothpaste, razors and deodorants.

Fears of further price ceilings shape product offerings

Players involved beauty and personal care must contend with the threat of new or revised government regulations and controls, not only along the supply chain, but also within distribution channels. In 2017, access to foreign currency was no longer an issue but it had to be purchased at black market exchange rates, thus causing significant rises in the costs of imported raw materials, intermediate inputs and final products, which could trigger new price ceilings on the part of the government.

Domestic companies rise up against economic recession in 2017

A host of domestic companies and laboratories was taking over beauty and personal care categories in 2017, such as hair care, baby and child-specific products, skin care, mass fragrances, colour cosmetics and bath and shower. Greater opportunities for domestic companies appeared as multinational companies started abandoning the market – and the country altogether – from 2013.

Online stores are gaining traction across all segments in 2017

In 2017, companies in the premium segment of beauty and personal care, such as L’Oréal Venezuela and Vichy Laboratoires, were using online marketplaces like MercadoLibre and Linio to offer products through official brand stores for Kerástase, La Roche-Posay, Vichy, Maybelline New York and L’Oréal Professionnel. Direct selling companies – such as René Dessés and Alticor Venezuela (Amway) – were also using this channel to lower transaction and financial costs by removing the need for printed catalogues or sales representatives and increasing disappointing sales.

Beauty and personal care to continue on a downward volume trend due to adverse economic conditions

Hyperinflation will be the key variable shaping the beauty and personal care market in the forecast period. From the supply perspective, it will add another element of uncertainty to an already hectic business environment, as firms continue facing the threats of price ceilings and government inspections and raids.

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Beauty and Personal Care in Venezuela

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Overview

Discover the latest market trends and uncover sources of future market growth for the Beauty and Personal Care industry in Venezuela with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Beauty and Personal Care industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

When you purchase this report, you also get the data and the content from these category reports in Venezuela for free (where applicable):

The Beauty and Personal Care in Venezuela market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Beauty and Personal Care in Venezuela?
  • What are the major brands in Venezuela?
  • How are sales of mass versus premium beauty products evolving?
  • What are the key shifts in retail channel distribution?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Beauty and Personal Care market research database.

Beauty and Personal Care in Venezuela

EXECUTIVE SUMMARY

Inconsistent government policies continue to deter growth in 2017
Fears of further price ceilings shape product offerings
Domestic companies rise up against economic recession in 2017
Online stores are gaining traction across all segments in 2017
Beauty and personal care to continue on a downward volume trend due to adverse economic conditions

MARKET DATA

Table 1 Sales of Beauty and Personal Care by Category: Value 2012-2017
Table 2 Sales of Beauty and Personal Care by Category: % Value Growth 2012-2017
Table 3 GBO Company Shares of Beauty and Personal Care: % Value 2013-2017
Table 4 NBO Company Shares of Beauty and Personal Care: % Value 2013-2017
Table 5 LBN Brand Shares of Beauty and Personal Care: % Value 2014-2017
Table 6 Distribution of Beauty and Personal Care by Format: % Value 2012-2017
Table 7 Distribution of Beauty and Personal Care by Format and Category: % Value 2017
Table 8 Forecast Sales of Beauty and Personal Care by Category: Value 2017-2022
Table 9 Forecast Sales of Beauty and Personal Care by Category: % Value Growth 2017-2022

SOURCES

Summary 1 Research Sources

Premium Beauty and Personal Care in Venezuela

HEADLINES

PROSPECTS

Premium fragrances increases its lead in 2017
Poor variety and abandoned categories in 2017
Online channel expands growth opportunities

COMPETITIVE LANDSCAPE

Fragrances and facial care brands lead in 2017
Companies streamline their portfolios, focusing on top sellers
Continued low penetration in 2017

CATEGORY DATA

Table 10 Sales of Premium Beauty and Personal Care by Category: Value 2012-2017
Table 11 Sales of Premium Beauty and Personal Care by Category: % Value Growth 2012-2017
Table 12 NBO Company Shares of Premium Beauty and Personal Care: % Value 2013-2017
Table 13 LBN Brand Shares of Premium Beauty and Personal Care: % Value 2014-2017
Table 14 Forecast Sales of Premium Beauty and Personal Care by Category: Value 2017-2022
Table 15 Forecast Sales of Premium Beauty and Personal Care by Category: % Value Growth 2017-2022

Skin Care in Venezuela

HEADLINES

PROSPECTS

Narrow variety to meet the needs of all family members
Venezuelan consumers go back to the basics
Increasing costs prevent new product launches

COMPETITIVE LANDSCAPE

Domestic companies pick up what international brands left behind
Direct selling companies show uneven performances
Underdeveloped categories have limited room for growth

CATEGORY DATA

Table 16 Sales of Skin Care by Category: Value 2012-2017
Table 17 Sales of Skin Care by Category: % Value Growth 2012-2017
Table 18 NBO Company Shares of Skin Care: % Value 2013-2017
Table 19 LBN Brand Shares of Skin Care: % Value 2014-2017
Table 20 LBN Brand Shares of Premium Skin Care: % Value 2014-2017
Table 21 Forecast Sales of Skin Care by Category: Value 2017-2022
Table 22 Forecast Sales of Skin Care by Category: % Value Growth 2017-2022

Sun Care in Venezuela

HEADLINES

PROSPECTS

High prices and low variety limit growth in 2017
Presence of adult sun protection products improves in 2017
Mass products drive sales in 2017

COMPETITIVE LANDSCAPE

Beiersdorf keeps Nivea and withdraws Eucerin
Laboratories are venturing into sun protection
Aftersun faces competition from skin care

CATEGORY DATA

Table 23 Sales of Sun Care by Category: Value 2012-2017
Table 24 Sales of Sun Care by Category: % Value Growth 2012-2017
Table 25 Sales of Sun Care by Premium vs Mass: % Value 2012-2017
Table 26 NBO Company Shares of Sun Care: % Value 2013-2017
Table 27 LBN Brand Shares of Sun Care: % Value 2014-2017
Table 28 LBN Brand Shares of Premium Adult Sun Care: % Value 2014-2017
Table 29 Forecast Sales of Sun Care by Category: Value 2017-2022
Table 30 Forecast Sales of Sun Care by Category: % Value Growth 2017-2022
Table 31 Forecast Sales of Sun Care by Premium vs Mass: % Value 2017-2022

Baby and Child-Specific Products in Venezuela

HEADLINES

PROSPECTS

High prices and limited supply push sales farther down in 2017
Consumers appreciate natural ingredients
Volume and variety somewhat recovered but consumers are unable to make purchases

COMPETITIVE LANDSCAPE

Local companies and brands dominate the category in 2017
Segmentation wanes, giving way to homogenisation
Private label continues to gain, whilst Beiersdorf holds its ground

CATEGORY DATA

Table 32 Sales of Baby and Child-specific Products by Category: Value 2012-2017
Table 33 Sales of Baby and Child-specific Products by Category: % Value Growth 2012-2017
Table 34 Sales of Baby and Child-specific Products by Premium vs Mass: % Value 2012-2017
Table 35 NBO Company Shares of Baby and Child-specific Products: % Value 2013-2017
Table 36 LBN Brand Shares of Baby and Child-specific Products: % Value 2014-2017
Table 37 LBN Brand Shares of Baby and Child-specific Sun Care: % Value 2014-2017
Table 38 Forecast Sales of Baby and Child-specific Products by Category: Value 2017-2022
Table 39 Forecast Sales of Baby and Child-specific Products by Category: % Value Growth 2017-2022
Table 40 Forecast Sales of Baby and Child-specific Products by Premium vs Mass: % Value 2017-2022

Bath and Shower in Venezuela

HEADLINES

PROSPECTS

Erratic price policies preclude companies from supplying bar soap
Bar soap is still Venezuelans’ first choice
Scarcity leads to loss of brand loyalty

COMPETITIVE LANDSCAPE

A private label leads in bath and shower in 2017
No leading brand of bar soap can be pinned down in 2017
Talcum powder and bath additives are marginal in 2017

CATEGORY DATA

Table 41 Sales of Bath and Shower by Category: Value 2012-2017
Table 42 Sales of Bath and Shower by Category: % Value Growth 2012-2017
Table 43 Sales of Bath and Shower by Premium vs Mass: % Value 2012-2017
Table 44 NBO Company Shares of Bath and Shower: % Value 2013-2017
Table 45 LBN Brand Shares of Bath and Shower: % Value 2014-2017
Table 46 Forecast Sales of Bath and Shower by Category: Value 2017-2022
Table 47 Forecast Sales of Bath and Shower by Category: % Value Growth 2017-2022
Table 48 Forecast Sales of Bath and Shower by Premium vs Mass: % Value 2017-2022

Colour Cosmetics in Venezuela

HEADLINES

PROSPECTS

Colour cosmetics falls off the list of priorities of Venezuelan consumers
Venezuelan women are willing to trade down to maintain their beauty routine
Facial make-up with sun protection not common in Venezuela

COMPETITIVE LANDSCAPE

Low-price strategy keeps Drocosca in the lead
Local companies dominate the category in spite of supply chain hurdles
Venezuelan consumers change their make-up styles to fit their budgets

CATEGORY DATA

Table 49 Sales of Colour Cosmetics by Category: Value 2012-2017
Table 50 Sales of Colour Cosmetics by Category: % Value Growth 2012-2017
Table 51 Sales of Colour Cosmetics by Premium vs Mass: % Value 2012-2017
Table 52 NBO Company Shares of Colour Cosmetics: % Value 2013-2017
Table 53 LBN Brand Shares of Colour Cosmetics: % Value 2014-2017
Table 54 LBN Brand Shares of Premium Colour Cosmetics: % Value 2014-2017
Table 55 Forecast Sales of Colour Cosmetics by Category: Value 2017-2022
Table 56 Forecast Sales of Colour Cosmetics by Category: % Value Growth 2017-2022
Table 57 Forecast Sales of Colour Cosmetics by Premium vs Mass: % Value 2017-2022

Deodorants in Venezuela

HEADLINES

PROSPECTS

Hyperinflation hits consumers desperate to find any deodorant
Loss of segmentation continues in 2017
Roll-ons dominate value and volume sales in 2017

COMPETITIVE LANDSCAPE

Procter & Gamble de Venezuela increases its lead in 2017
Multinationals’ exit opens door for domestic players
Body splashes will continue to be substitutes for deodorants

CATEGORY DATA

Table 58 Sales of Deodorants by Category: Value 2012-2017
Table 59 Sales of Deodorants by Category: % Value Growth 2012-2017
Table 60 Sales of Deodorants by Premium vs Mass: % Value 2012-2017
Table 61 NBO Company Shares of Deodorants: % Value 2013-2017
Table 62 LBN Brand Shares of Deodorants: % Value 2014-2017
Table 63 Forecast Sales of Deodorants by Category: Value 2017-2022
Table 64 Forecast Sales of Deodorants by Category: % Value Growth 2017-2022
Table 65 Forecast Sales of Deodorants by Premium vs Mass: % Value 2017-2022

Depilatories in Venezuela

HEADLINES

PROSPECTS

Loss of variety and complete absence of categories in 2017
No threat from electronic alternatives due to prices
Venezuelan consumers seek the most affordable options

COMPETITIVE LANDSCAPE

Uncertain presence limits growth in 2017
Farmatodo actively supplies products in 2017
Women’s pre-shave will remain marginal in the forecast period

CATEGORY DATA

Table 66 Sales of Depilatories by Category: Value 2012-2017
Table 67 Sales of Depilatories by Category: % Value Growth 2012-2017
Table 68 NBO Company Shares of Depilatories: % Value 2013-2017
Table 69 LBN Brand Shares of Depilatories: % Value 2014-2017
Table 70 Forecast Sales of Depilatories by Category: Value 2017-2022
Table 71 Forecast Sales of Depilatories by Category: % Value Growth 2017-2022

Fragrances in Venezuela

HEADLINES

PROSPECTS

Trading down persists in 2017
Women continue to drive premium fragrances in 2017
More even distribution is observed in mass fragrances

COMPETITIVE LANDSCAPE

A mass fragrance company leads the category
Carolina Herrera is Venezuelan’s favourite
Celebrity helps sales in Venezuela

CATEGORY DATA

Table 72 Sales of Fragrances by Category: Value 2012-2017
Table 73 Sales of Fragrances by Category: % Value Growth 2012-2017
Table 74 NBO Company Shares of Fragrances: % Value 2013-2017
Table 75 LBN Brand Shares of Fragrances: % Value 2014-2017
Table 76 LBN Brand Shares of Premium Men's Fragrances: % Value 2014-2017
Table 77 LBN Brand Shares of Premium Women's Fragrances: % Value 2014-2017
Table 78 Forecast Sales of Fragrances by Category: Value 2017-2022
Table 79 Forecast Sales of Fragrances by Category: % Value Growth 2017-2022

Hair Care in Venezuela

HEADLINES

PROSPECTS

Manufacturers redefine hair products to avoid regulation
Price ceilings lead to greater variety
Positive trend towards sulphate-free shampoos continues in 2017

COMPETITIVE LANDSCAPE

Mass domestic economy brands lead the category in 2017
At the salon, Wella and L’Oréal come at a premium
Domestic companies step up to the plate in colourants

CATEGORY DATA

Table 80 Sales of Hair Care by Category: Value 2012-2017
Table 81 Sales of Hair Care by Category: % Value Growth 2012-2017
Table 82 Sales of Hair Care by Premium vs Mass: % Value 2012-2017
Table 83 NBO Company Shares of Hair Care: % Value 2013-2017
Table 84 LBN Brand Shares of Hair Care: % Value 2014-2017
Table 85 NBO Company Shares of Salon Professional Hair Care: % Value 2013-2017
Table 86 LBN Brand Shares of Salon Professional Hair Care: % Value 2014-2017
Table 87 LBN Brand Shares of Premium Hair Care: % Value 2014-2017
Table 88 Forecast Sales of Hair Care by Category: Value 2017-2022
Table 89 Forecast Sales of Hair Care by Category: % Value Growth 2017-2022
Table 90 Forecast Sales of Hair Care by Premium vs Mass: % Value 2017-2022

Mass Beauty and Personal Care in Venezuela

HEADLINES

PROSPECTS

Lower purchasing power boosts sales in 2017
Demand for mass fragrances sees increased participation of women
High prices of premium facial care products encourage trading down

COMPETITIVE LANDSCAPE

Drocosca is the winner in the midst of a recession
Relying on a traditional brand name a winning strategy for Laboratorios Fisa
Private label Farmatodo continues on an upward trend in 2017

CATEGORY DATA

Table 91 Sales of Mass Beauty and Personal Care by Category: Value 2012-2017
Table 92 Sales of Mass Beauty and Personal Care by Category: % Value Growth 2012-2017
Table 93 NBO Company Shares of Mass Beauty and Personal Care: % Value 2013-2017
Table 94 LBN Brand Shares of Mass Beauty and Personal Care: % Value 2014-2017
Table 95 Forecast Sales of Mass Beauty and Personal Care by Category: Value 2017-2022
Table 96 Forecast Sales of Mass Beauty and Personal Care by Category: % Value Growth 2017-2022

Men's Grooming in Venezuela

HEADLINES

PROSPECTS

Fewer men’s products available in 2017
Supply continues to be limited and unsteady
Deodorants remain scarce in spite of price ceilings being released

COMPETITIVE LANDSCAPE

Corporación Belcorp de Venezuela takes the lead in 2017
Total absence of premium skin care for men in 2017
Men’s hair care shows more dynamism than other categories

CATEGORY DATA

Table 97 Sales of Men’s Grooming by Category: Value 2012-2017
Table 98 Sales of Men’s Grooming by Category: % Value Growth 2012-2017
Table 99 Sales of Men's Razors and Blades by Type: % Value Breakdown 2013-2017
Table 100 Sales of Men's Skin Care by Type: % Value Breakdown 2015-2017
Table 101 NBO Company Shares of Men’s Grooming: % Value 2013-2017
Table 102 LBN Brand Shares of Men’s Grooming: % Value 2014-2017
Table 103 LBN Brand Shares of Men's Razors and Blades: % Value 2014-2017
Table 104 Forecast Sales of Men’s Grooming by Category: Value 2017-2022
Table 105 Forecast Sales of Men’s Grooming by Category: % Value Growth 2017-2022

Oral Care in Venezuela

HEADLINES

PROSPECTS

Government keeps meddling with the price of toothpaste
Due to shortages of inputs no new products are emerging
Bleak forecast if government policies persist

COMPETITIVE LANDSCAPE

Colgate maintains leadership in spite of image change
Poor variety continues in 2017

CATEGORY DATA

Table 106 Sales of Oral Care by Category: Value 2012-2017
Table 107 Sales of Oral Care by Category: % Value Growth 2012-2017
Table 108 Sales of Toothbrushes by Category: Value 2012-2017
Table 109 Sales of Toothbrushes by Category: % Value Growth 2012-2017
Table 110 Sales of Toothpaste by Type: % Value Breakdown 2013-2017
Table 111 NBO Company Shares of Oral Care: % Value 2013-2017
Table 112 LBN Brand Shares of Oral Care: % Value 2014-2017
Table 113 Forecast Sales of Oral Care by Category: Value 2017-2022
Table 114 Forecast Sales of Oral Care by Category: % Value Growth 2017-2022
Table 115 Forecast Sales of Toothbrushes by Category: Value 2017-2022
Table 116 Forecast Sales of Toothbrushes by Category: % Value Growth 2017-2022