Skin Care in Mexico

PRE-COVID-19 PERFORMANCE

Micellar water and face masks contribute strongly to growth

In 2019, skin care maintained similar dynamic current value growth to that seen the previous year. Despite the stagnant economy, the trend towards a new perception of beauty boosted sales.

Premium and dermocosmetic products rise in popularity, and vitamin C is used in many launches

Although in liquid/cream/gel/bar cleansers and face masks mass products saw higher sales and growth than premium in 2019, within overall skin care the premium segment saw higher growth, although still lower sales. Consumers are willing to spend on premium products in certain categories, such as moisturisers and treatments, with both basic moisturisers and anti-agers seeing higher growth in the premium segment in 2019.

Unilever maintains its lead despite new entrants and innovative product launches

Unilever de México remained the leading company in skin care in value terms in 2019, thanks to its Pond’s, St Ives, Vasenol and Dove brands. Although the company saw a negligible share decline in 2019, its brands remain popular as they enjoy a solid reputation and maintain consumer awareness with a constant presence in the mass media and continuous innovation.

2020 AND BEYOND

COVID-19 impact

Skin care is now expected to see 1% growth in 2020 in 2019 constant value terms in light of the impact of COVID-19. This is slightly lower than the 2% growth forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within skin care

Although overall skin care is only expected to see a slight drop in demand due to COVID-19, the impact is expected to vary between categories. Hand care is expected to see a particularly strong volume performance, since constant hand washing to maintain hygiene and avoid the spread of the virus leads to dry skin.

Recovery and opportunities

Little direct impact is expected from COVID-19 in 2020, and the current value growth rate is expected to increase from 2021 for the rest of the forecast period. However, the CAGR in the forecast period is expected to be slightly below that seen in the review period, as the economic fallout from COVID-19 is expected to continue beyond 2020, leading consumers to be price-conscious.

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