Colour cosmetics was the hardest hit beauty and personal care product in 2020. With people confined to home for much of the year, due to the pandemic, and little socialising or entertaining, women did not bother wearing make=up and concentrated on other beauty routines such as skin care instead.
Mainstream regional players meanwhile are looking to Ecuador as a potential site of development and growth for their companies. Major Colombian manufacturer Belcorp for instance recently entered into a strategic alliance with Scalpi Comestica SA involving investment of USD10-15 million in the development of four additional production lines and a doubling of the company’s local workforce.
Face masks negatively affected colour cosmetics in 2020. As a consequence, consumers looked for long-lasting colour cosmetics in 2020, as with the use of a face mask, make-up is easily rubbed away.
Colour cosmetic was the worst hit in 2020, due to the pandemic, and will make one of the strongest recoveries, once society opens up. Lip products had been the star performer in terms of current value growth prior to the pandemic and it is expected that lip products recover strongly.
Recent years have seen the strong emergence of younger consumers from the millennial and generation Z consumer groups as a core consumer base for colour cosmetics. In response, key players are increasingly interested in attracting the attention of younger consumers, catering to their needs with new launches of products designed to catch the eye of the younger consumer.
2020 saw further development of the trend towards more natural products in colour cosmetics. During the year, the emphasis shifted towards incorporating more innovative components and ingredients, with products marketed as being 100% vegan proving particularly popular among a small but enthusiastic high-income target audience.
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Understand the latest market trends and future growth opportunities for the Colour Cosmetics industry in Ecuador with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Colour Cosmetics industry in Ecuador, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Colour Cosmetics research and analysis database.
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