Premium beauty and personal care products were severely impacted by the pandemic and the 2020 lockdowns, with a double-digit current value sales decline. Two factors contributed to the decline.
Premium beauty and personal care remained fragmented in 2021, with more than half of sales accounted for by smaller players, included under “others”. Saint Honoré Costa Rica remained the leading individual player and was the only company, along with Estée Lauder, to hold a double-digit value share.
Costa Ricans usually try to purchase premium beauty and personal care products when abroad as most products are more expensive in Costa Rica, due to high taxes. In 2021, with foreign travel still curtailed, Costa Ricans purchased premium beauty and personal care products locally instead.
Premium beauty and personal care will register healthy constant value growth over the forecast period. Value growth will be supported by the return of international tourists and a recovering economy.
During lockdowns, many consumers indulged in premium skin care brands, as demand for colour cosmetics dwindled and people were confined to home with a lot of time on their hands. As a result, many consumers have adopted the habit of paying greater attention to their skin and premium skin care brands will gain further value share over the forecast period.
Consumers continue to believe that premium products offer higher quality than mass alternatives. However, many mass producers are now offering products with increasing quality, while maintaining cheaper prices.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care 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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Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.
See All of Our DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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