Skin Care in Latin America
Strategy Briefing
About This Report
Aug 2018Skin care suffered decline in Latin America, but finally is improving as consumers’ confidence recovers. Modest growth in most countries, benefited from premiumisation, innovation, and the trend in prevention, where consumers are embracing new products in their daily routine. Latin America is a vast territory and companies are expanding their reach beyond urban areas, investing in infrastructure and offering a wider variety of products.
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Skin Care in Latin America
Skin care recovering from unsteady times
Skin care suffered decline over 2012-2017, but finally is improving as consumers’ confidence recovers. Modest growth in most countries, especially Chile and Mexico, benefited from premiumisation, partially offsetting the economic crises in Brazil and Venezuela.
Latin Americans add some steps in facial skin care routines
Consumers in Latin America tend to pay closer attention to facial care. An increasing focus on prevention has led Latin Americans to add new steps in their facial care routines, propelled by innovation. Products like face masks, are thriving in the market. Brazil differs from this pattern, and prioritises body care, where natural ingredients and immediate results are desired.
Direct sellers among the leaders in skin care, but retailers are improving and expanding
Latin America is a vast territory where direct sellers thrive, as the channel can reach consumers in smaller cities where retail does not offer specialised skin care products. However, retailers are understanding consumer needs, already physically expanding their reach beyond urban areas, investing in digital infrastructure and offering a wider variety of products.
Combination of innovation, habitual usage and GDP increase a formula for growth potential
Along with new trends in prevention, a combination of factors such as the reach of new markets outside urban areas, constant innovation, consumers embracing new products in their daily routines and improvement in GDP per capita, means a positive forecast for skin care. In smaller economies, consumers are eager for a wider variety of goods that fit their specific needs, thus opening a wider market opportunity for growth.
Introduction
Scope
Key findings
Regional Overview
Putting Latin America into context
Latin American potential slowly coming back
Brazilians prioritise body care, but…
…facial care is still the main category in Latin America
Premium products and shift to prevention enhance growth
Absolute growth in most markets…
…boosted by new facial care routines
Diversification increases among store retail channels…
…while direct selling still thrives in the region
Leading Companies and Brands
Market maturity helps market fragmentation
Brazilian Natura & Co strengthens its position in the region
Geographic expansion, key to avoid economic impact
Innovation drives brand success in skin care
Forecasts
Latin America is expected to return to the growth path
Demand for natural products expected to continue growing
Reinforcing beauty routines sustains growth
Soft drivers gain importance as economic environment improves
Country Snapshots
Argentina: market context
Argentina: competitive and retail landscape
Bolivia: market context
Bolivia: competitive and retail landscape
Brazil: market context
Brazil: competitive and retail landscape
Chile: market context
Chile: competitive and retail landscape
Colombia: market context
Colombia: competitive and retail landscape
Costa Rica: market context
Costa Rica: competitive and retail landscape
Dominican Republic: market context
Dominican Republic: competitive and retail landscape
Ecuador: market context
Ecuador: competitive and retail landscape
Guatemala: market context
Guatemala: competitive and retail landscape
Mexico: market context
Mexico: competitive and retail landscape
Peru: market context
Peru: competitive and retail landscape
Uruguay: market context
Uruguay: competitive and retail landscape
Venezuela: market context
Venezuela: competitive and retail landscape
Appendix: Competitor Analytics
Competitor Analytics tool
Overview
Competitors
Market Overlap
Treemap
Overlap Matrices
Appendix: Industry Forecast Model
About Euromonitor International’s Industry Forecast Model
Soft drivers and the Industry Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Industry Forecast Models
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