Latin America is one of the fastest-growing and most vibrant cosmetic markets across the world.
The beauty and personal care market in the region will reach a value of $69.9 billion by 2021.
75% of Latinas consider beauty an important part of their culture.
Brazil, Mexico, Colombia, and Chile are the top markets in Latin America showing high growth rate in the cosmetics industry.
Wellness and the desire for a holistic, healthy lifestyle has gained momentum, giving a path to functional beauty that promise to nurture from the inside out.
Natural and organic cosmetic and personal care products continue to be a growing niche in the region. • The movement towards clean formulations is expanding with health conscious consumers who are concerned about what they put on their skin, and the expertise they are gaining regarding ingredients. • Latin America consumers are more connected than ever before. Social media platforms are the go-to source for discovering and learning how to use beauty and personal care products. They are more engaged with beauty and personal care than before, and are savvy about brands. • New shopping retailers are blooming to meet consumers’ needs and desires. The convergence of physical and digital retail is also evident across the region with ecommerce showing promising signs of growth.