Skin Care in Latin America

February 2021

Skin care was growing in Latin America in 2019, driven by healthy performances in the major facial care and body care categories, particularly in Brazil, the region’s biggest market. Hand care was in decline, however, both in Brazil and Latin America as a whole. In 2020, the opposite is true, as hand care sales rise against a backdrop of dried-out hands from frequent handwashing due to Coronavirus (COVID-19), but body care and facial care decline due to the pandemic’s economic impact.

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Key findings

Brazil driving overall regional sales in 2019

Although skin care sales were in decline in some countries in 2019, notably Argentina and Chile, strong growth in Brazil was helping drive the overall regional performance, backed up by continued increases in Mexico. With Brazil still in recession and seeing negative growth in the earlier years of the 2014-2019 period, the region as a whole was also in decline. Regional skin care sales have since been heavily influenced by the improving fortunes of the Brazilian economy.

Dermocosmetics in demand

With consumers increasingly cautious about what they put on their skin, this is making them more willing to opt for dermocosmetics, even in troubled economic times, such as those caused by the measures taken to contain COVID-19’s spread. Dermocosmetics can still be affected by weakening local currencies, though, as seen in Brazil in recent times, with premium dermocosmetic products likely to be imported, meaning a dramatic fall in the strength of the local currency can lead to their prices rising more than those of mass alternatives. Nevertheless, when they can afford to, consumers are expected to continue favouring dermocosmetics.

Handwashing to drive hand care sales in 2020

With the official instructions for people to thoroughly wash their hands on a regular basis or to use hand sanitiser to clean the hands to combat the spread of COVID-19, this will be driving sales of hand care products in 2020, with consumers hands dried out due to all the washing/sanitising. Hand care will therefore buck the general trend in skin care and record positive value growth in 2020, with body care and facial care both recording declines.

Economic impact of COVID-19

Generally, the pandemic is expected to have a negative effect on skin care sales in 2020, with its economic impact hitting consumers’ disposable incomes, although growth will quickly return to positive territory from 2021.


Key findings

Regional Overview

Low, and falling, per capita consumption of skin care in Latin America
Positive 2019-2024 CAGR despite the COVID-19 decline in 2020
Brazil drives the overall regional performance
Declining body care sales undermine skin care’s 2014-2019 performance
Mexico’s strong facial care growth helps offset declines elsewhere
Strong growth in Brazil drives the regional performance in 2019
Direct selling the biggest skin care distribution channel
Health and beauty specialist retailers gaining share

Leading Companies and Brands

Leading players adding share in Latin American skin care
Natura gains share to strengthen its leading position in 2019
Mexico and Brazil account for the bulk of the leading players’ sales
Natura continues to grow on the back of further investment

Forecast Projections

Stronger regional performance expected in 2019-2024
Swift recovery expected from 2020’s COVID-19-related sales decline

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


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