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There was an intensified focus on grooming among men in Bolivia at the end of the review period, with this supporting ongoing sales growth for men’s grooming in 2019. Men’s hair care in particular saw outstanding current value sales growth in the year.
Men’s skin care value sales remained relatively small in 2019 but saw some growth, as millennial men increasingly focused on their appearance and became more concerned about their skin’s appearance and aging. This product area was mainly driven by multinational companies.
Sales of men’s deodorants increased healthily in 2019 due to continuous developments in fragrances and new antiperspirant technologies encouraging a stronger uptake by consumers. Generally men are aware of new developments in deodorants and willing to try new options.
Sales of men’s grooming are now expected to decline by 5% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 3% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.
Men’s fragrances is expected to see double-digit retail volume and value decline at constant 2019 prices in 2020, with many consumers trading down to mass men’s deodorants as a more affordable alternative. Furthermore, men’s skin care will also decrease in retail volume and value at constant 2019 prices as these products may not be seen as essential products.
Following retail value decline at constant 2019 prices in 2020, as a result of the COVID-19 lockdown and economic uncertainty, overall men’s grooming will achieve a degree of recovery in 2021 and will see good growth for the remainder of the forecast period. Consumers are likely to remain highly price-sensitive, however, and many will continue to limit spending in this area.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Men's Grooming industry in Bolivia 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.
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.