Fragrances were negatively impacted by the 2020 pandemic lockdowns, as with people spending significant amounts of time at home and not meeting with other people and socialising, there was less demand for fragrances. In 2021, with society gradually opening up and people wanting to present themselves well, fragrances registered healthy current value and volume growth.
Despite the constant emergence of new value proposals over the last five years, international direct selling players Corporación Belcorp de Costa Rica and Avon de Costa Rica maintained their leading positions in fragrances (and mass fragrances) in 2021. These players use a combination of segmentation, promotions and pricing strategies to take advantage of their already consolidated networks of sales associates across the country and attract a broad base of low- and middle-income buyers across the country, in both urban and rural areas, with their value-for-money fragrance options.
Costa Rica has an impressive record in terms of protecting the environment, with more than 98% of its energy being renewable. This also feeds into consumer goods, with consumers expecting high standards in terms of respect for the environment and making products as sustainable as possible.
Fragrances will register moderate constant value growth over the forecast period. With inflation like to become a growing concern over the forecast period, as global factors such as rising energy costs feed into price rises, this will dampen growth.
There will be increased buzz in the mass sector. While direct sellers will continue to have a significant foothold, other players are also looking to gain value share.
Contraband is an issue in Costa Rice and while smuggling activity decreased during the height of the pandemic as cross-border travel was restricted, it picked up again in 2021. Also, with increased unemployment and economic uncertainty, there was a larger receptive audience.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in Costa Rica with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.See All of Our Definitions
This report originates from Passport, our Fragrances research and analysis database.
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