South America is the fourth largest region in the global cosmetics market. It is projected to register a CAGR of 3.3% during the forecast period. The global market is projected to grow from USD 299.77 billion in 2022 to USD 417.24 billion by 2030.
Fortune Business Insights™ displays this information in a report titled, "South America Cosmetics Market, 2024-2030."
Information Source:
https://www.fortunebusinessinsights.com/south-america-cosmetics-market-108007
LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT
- L'Oréal S.A. (France)
- Unilever plc (U.K.)
- The Procter & Gamble Company (U.S.)
- The Estée Lauder Companies Inc. (U.S.)
- Beiersdorf AG (Germany)
- Shiseido Co., Ltd. (Japan)
- Coty Inc. (U.S.)
- Kao Corporation (Japan)
- Johnson & Johnson Services, Inc. (U.S.)
- Grupo Boticário (Brazil)
- Natura & Co. (Brazil)
Segments:
In terms of category, the market is divided into hair care, skincare, makeup, and others.
Based on gender, the market is bifurcated into men and women.
In terms of distribution channels, the market is segmented into specialty stores, hypermarkets/supermarkets, online channels, and others.
This report on the South American cosmetics market covers the following countries/regions: Brazil, Argentina, and the Rest of South America.
Report Coverage:
The report offers in-depth qualitative and quantitative insights into the market and an elaborative analysis of the regional market’s size & growth rate for all possible segments in the market. This report also gives information on the market dynamics, competitive landscape, and forecast. A wide range of key insights are presented in this report, such as an overview of the new product launches, regulatory scenario in key countries, top industry developments – mergers, acquisitions & partnerships, and the effect of COVID-19 on the market.
Drivers and Restraints:
Technological Innovations by Leading Companies and Expansion of Middle-Income Group May Accelerate Market Growth
Brazilian citizens have recently started adopting the health and wellness trends due to the growing income of the middle-class population. Robust economic growth and industrialization have played a key role in boosting the income level of people belonging to the middle-class group. Cosmetic products, such as hair & skin products and makeup items, are being manufactured on a large scale in Brazil, Columbia, and Argentina. Moreover, start-ups across Brazil and Argentina are bringing continuous developments and improvements in AR technology-based consultative cosmetic solutions. These efforts are expected to boost customers’ confidence in their products, further enhancing the market growth.
However, the side effects of using cosmetics that contain harmful chemicals is expected to constrain the South America cosmetics market growth.
Competitive Landscape:
Concerning the market’s competitive landscape, Natura & Co, Grupo Boticário, L’Oréal S.A., the Estée Lauder Companies Inc., Kao Corporation, Shiseido Co., Ltd., Unilever, Johnson & Johnson In., Procter & Gamble Co., and Beiersdorf AG are the leading players in the market. These companies are focusing on fortifying their supply chains and distribution networks while expanding their product portfolios. They are also signing partnership and acquisition deals to gain a competitive edge over their rivals.
Key Industry Development:
October 2022: L’Oréal Brasil announced that it expanded its product portfolio for sun care to meet the country’s diverse skin needs. The company said that it created 11 new shades of sunscreen formulas, which increased its shade range from 32 to 43 shades. The beauty brand also coined a new color terminology based on a numerical scale dedicated to Brazilian skins.
