Having plunged by more than a quarter during 2020 due to a combination of the economic shock of the pandemic and restrictions on movement (with many working or studying from home), retail constant value sales (2021 prices) of premium beauty and personal saw a robust rebound in 2021 but remained well below their pre-pandemic peak. The economic shock of COVID-19 was the biggest driver of this, as it led a significant number of local consumers to trade down to mass offerings in beauty and personal care.
Retail constant value sales of premium baby and child-specific products continued to expand during both 2020 and 2021 – albeit at a much slower pace than earlier in the review period. This reflects the fact that, even during hard times, many parents will persist in buying what they perceive to be high-quality products for their offspring, even as they cut back their spending in other areas deemed to be less essential.
Frabel, the local subsidiary of L'Oréal Groupe, continued to lead premium beauty and personal care in value share terms during 2021, followed by Puig México and Estée Lauder Cosméticos. Frabel has significantly increased its retail value share since the onset of the pandemic.
Retail constant value sales of premium beauty and personal care will continue to recover during the early part of the forecast period but will not surpass their pre-pandemic peak until 2024. This rebound will be supported by an anticipated post-pandemic economic recovery, but the latter could be undermined by mounting inflationary pressure.
Premium colour cosmetics and premium adult sun care will be the most dynamic categories in premium beauty and personal care during the forecast period, as these have the most ground to make up from 2020. Demand for the former will supported by local consumers wearing face masks less frequently, while retail constant value sales of the latter will be buoyed by people spending more time out of doors, in addition to the health and wellness trend, which is set to outlast the pandemic.
Dermocosmetics brands are predicted to continue to gain traction within premium beauty and personal care in the forecast period. The producers of the leading brands are expected to continue to appeal to consumers, but also dermatologists and paediatrics to obtain medical endorsements.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Mexico 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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