Value sales of skin care declined by 1% in 2020, compared to positive growth of 5% in 2019. While a decline was recorded, many areas in skin care continued to record positive growth, which helped the landscape avoid a more significant decline.
Double-digit declining value sales were seen for facial cleansers, with premium liquid/cream/gel/bar cleansers and premium toners recording the deepest decline. This was due to price sensitivity and the items being deemed unessential, as well as consumers trading to mass products.
Skin care remained a fragmented competitive landscape in 2020, led by direct selling company Belcorp Guatemala SA, which only holds a 10% share of the landscape. The player benefits from its popular brands L'Bel and Ésika.
Skin care is set to make a recovery from 2021 onwards, although demand for facial cleansing wipes and mass face mass will remain weaker than during the review period, as consumers continue to remain price sensitive.
Across the forecast period, we will be seeing a migration to specialised online stores, such as Dermacenter by Meykos, which are favouring dermatological products. Some consumers will be keen to migrate to these online channels to acquire expert advice and gain more knowledge and expertise in the products they are using – ensuring they have the best item for their skin type and needs.
Across the forecast period, demand for larger value categories such as general purpose body care and basic moisturisers will remain steady, with these being more accessible to a wider audience. The most common specific benefits offered by moisturisers, such as firming, whitening and extra hydration, appeal to mid-to high-income consumers.
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Understand the latest market trends and future growth opportunities for the Skin Care industry in Guatemala 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.
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This report originates from Passport, our Skin Care research and analysis database.
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