South America is one of the most exciting and thriving regions in the global cosmetic and personal care market and its share of this market is expected to reach a value of $69.9 billion in 2021.
Brazil represents more than half of the overall South American market size, with Mexico, Colombia and Chile also growing and offering significant opportunities for brands.1 One of the most important aspects of this region is the importance placed on beauty and beauty products by its consumers. According to industry event, BeyondBeauty Americas, 75% of Latins consider beauty an important part of their culture.
A deep cultural association with the concept of beauty, coupled with a significantly growing employment rate for women, bodes well for the future, notwithstanding the recent impact of the pandemic
With social media making an increasing impact on consumers, trends for natural ingredients and the clean beauty movement are also shaping the beauty and personal care landscape in this region. All areas of South America are experiencing a growth in per capita spending on cosmetics, with male grooming products seeing a particular rise in Chile, with Brazil and Argentina following closely behind.2
Log in or register FREE to read the rest
This story is Premium Content and is only available to registered users. Please log in at the top of the page to view the full text.
If you don't already have an account, please register with us completely free of charge.
