The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2019
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Latin America is the fourth largest hair care region worldwide. Sales in recent years have mainly been impacted by the region’s economic crisis, particularly in Brazil, the largest market. Growth is expected to rebound, as regional per capita consumption of USD19 is almost half that in more developed regions, indicating significant upside potential in the coming years.
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Sales in Latin America are expected to post an increase in value sales of USD1.3 billion at constant 2018 prices over 2018-2023. However, sales offer potential to grow much stronger, as Latin America per capita spend is half of that posted in more developed regions such as North America.
The more severe effects of the economic crisis that hit the region seem to be over, but consumers continue to favour products that offer a good cost-benefit ratio. Not only cheaper brands are becoming to be more present in shelves, but existing players are increasing the product offering in larger packaging types to address current consumers’ needs.
Although price remain an issue, there is further space to explore a more upscale segment under hair care, as some consumers continue to prioritise quality. Segments, such as salon professional hair care, that clearly offer a higher quality perception are expected to push sales of hair care up in the region.
Although competition has increased over recent years with new entrants starting to explore the category in the region, top players managed to hold their positions over the last few years. Continuous investments in product innovation and advertising contributed to maintain the competitive landscape quite unchanged.
Store-based retailing continues to drives sales of hair care in Latin America. Key players are mainly found in hypermarkets/supermarkets, a fact that contributes to maintain the channel distribution outlook. While direct selling continues to struggle with players not delivering products as fast as possible, internet retailing is expected to continue evolving over the coming years.
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.