Skin Care in Latin America

August 2022

The skin care market’s performance in Latin America held up well during the pandemic, with positive growth being recorded in real value sales terms in both 2020 and 2021. While price and efficacy remain important factors for consumers when buying skin care products, there is also an increasing trend towards premium and dermocosmetics products, as well as natural ingredients. Latin America is expected to see further positive growth in its skin care sales over the forecast period.

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This report comes in PPT.

Key Findings

Sales continue to increase during the pandemic

Although many consumers in Latin America saw their spending power hit by the pandemic, the skin care performance has held up well across the region, particularly sales to middle- and high-income earners. With beauty spas and salons closed during lockdowns, consumers brought indulgent health and beauty activities into their homes to recreate their salon experiences and help distract themselves from the realities of the pandemic.

Dramatic growth in Chile

Skin care recorded phenomenal growth rates in Chile in 2021, with dermocosmetics and premium products performing strongly. One of the major factors driving the dynamic demand for skin care in Chile in 2021 was the fact that local consumers enjoyed greater financial liquidity as they were permitted to make successive 10% withdrawals from the pension system and received cash subsidies from the government as a result of the pandemic and its impact on the local economy.

E-commerce makes gains, but direct selling still leads

E-commerce made strong gains during the pandemic, especially in 2020, as it benefited from home seclusion and the closures of store-based retail outlets. However, direct selling still remains the biggest individual distribution channel for skin care products in Latin America. In Brazil, for example, locals trust sellers, known locally as “consultoras”, and are keen to learn from them about the latest products and beauty tips.

Positive growth expected over 2021-2026

Skin care in Latin America is currently expected to record positive year-on-year growth rates in both volume and real value terms over the forecast period. Although the e-commerce share remains relatively small, the omnichannel strategy will remain relevant and even essential moving forward, with companies that adapt their business models in this direction likely taking a fundamental step towards having a relative competitive advantage.


Key findings
Latin America’s underperforming skin care market
Positive growth rates expected throughout the forecast period
Chile overtakes Argentina to become the third biggest market at the end of 2016-2021
Brazilian mass general-purpose body care accounts for a major share of new sales
Body care and facial care remain the major revenue generators over the 2016-2021 period
Sustainable and natural are among the current buzz-words in skin care
Direct selling the biggest skin care distribution channel
E-commerce gains share during the pandemic in Latin American skin care
Relatively concentrated competitive landscapes at a national level
Avon acquisition cements Natura&Co’s leadership in Latin American skin care
Brazil and Mexico the biggest markets for the leading players
La Roche-Posay and Vichy performing strongly
Positive value growth expected for skin care over the forecast period
Increasing development of natural products and ingredients expected
Rising GDP will help drive skin care growth
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: Competitive and Retail Landscape
Dominican Republic: Market Context
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

Beauty and Personal Care

This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Black market sales and travel retail are excluded.

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