Skin care saw strong sales in current value terms in 2021, albeit continuing to decline in retail volume terms. Value growth was supported by increasing consumer interest in skin health, with consumers showing a willingness to pay more for products with anti-ageing, moisturising and whitening claims.
Despite many consumers feeling the pinch since the outbreak of COVID-19 there is nonetheless an ongoing shift towards more responsible shopping behaviour, with this also informing new product development. In line with this trend consumers are increasingly looking for enriched, natural and vegan skin care products.
Within skin care some products are used primarily for removing make-up, as such, with consumers wearing less make-up during the pandemic due to home seclusion this had a negative impact on the sales of some of these products. Facial cleansers, for example, are associated with colour cosmetics and the removal of make-up and thus witnessed a heavy decline in 2020.
Skin care is projected to see strong and stable growth in value and volume terms over the forecast period as consumers show a growing interest in the look and health of their skin. This increasing interest in skin health among consumers will likely drive more brands to develop skin diagnostic apps or platforms to assess and guide consumers in purchasing the most appropriate skin care products.
Sales of skin care are expected to be boosted by an increase in economic activity over the forecast period, as Colombia slowly recovers from the effects of the COVID-19 pandemic. Nonetheless, several challenges remain.
Skin care is a hotbed of innovation with companies investing huge sums to come up with products that claim to offer superior anti-ageing and skin health benefits. A key part of this is the introduction of new ingredients which have been dermatologically tested.
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Understand the latest market trends and future growth opportunities for the Skin Care industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Skin Care industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of facial care, body care, hand care and skin care sets/kits.See All of Our Definitions
This report originates from Passport, our Skin Care research and analysis database.
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