Premium beauty and personal care in Guatemala contracted in 2020 due to COVID-19 as some consumers switched to mass brands for economic reasons as the pandemic increased financial insecurity. Some high-income consumers, however, continued or increased their premium purchases during the pandemic to indulge themselves during the time of restricted socialising and travel, ensuring that the contraction in 2020 was not as drastic as it was in other categories.
There is more of a focus from players of premium beauty and personal care brands on natural, eco-friendly products than there is in the mass market. Premium consumers are more aware of sustainability and environmental issues, and they are willing to pay extra for natural “green” brands such as L’Occitane, a premium brand that promotes recyclable and refill products.
Premium brands continued strongly with digital media advertising in 2021, but also reactivated traditional mass media investment in the year. The major advertiser Fetiche returned to billboards and outdoor poster campaigns in cities.
Premium beauty and personal care is expected to recover fully by 2022 and develop positively with organic growth over the forecast period. Aspirational messages and advertisement through traditional and digital media will reach young and high-income consumers who are willing to pay extra for premium features and will sustain the category’s development to 2026.
Premium players are set to continue promoting their strong brands, but will also maintain a continuous cycle of innovation over the forecast period. Major brands in Guatemala launch new products annually or more frequently and they invest in life cycle management in order to align their brands to fashion and global trends.
Over the forecast period, major brands will continue to upgrade and improve their websites to attract more consumers to online shopping. E-commerce, which saw heightened growth during the pandemic due to home seclusion, will continue to grow within premium beauty and personal care, especially as regular consumers within the premium landscape are more likely to have credit cards and devices with internet access.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Guatemala 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 Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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