Beauty and personal care market in Latin America - statistics & facts
Açaí, buriti, and cocoa butter are only some of the ingredients that the Latin American beauty and personal care market has at its disposal. Especially Brazil, home to a large part of the Amazon rainforest, relies on natural ingredients in their beauty and personal care products, for example in the case of Natura &Co’s flagship brand, Natura. With the market revenue forecast to reach over 32 billion U.S. dollars by 2028, Brazil is one of the leading beauty and personal care markets in Latin America. The South American giant outperforms other large players in the region, such as Mexico, Argentina, and Colombia.
Personal hygiene demonstrates the greatest opportunity within the beauty and personal care market in Latin America, as it occupies a market share of roughly 30 percent. Other segments of importance in the Latin American cosmetics and personal care market are fragrances and hair care. For instance, Chile is the largest importer for hair products in Latin America, while Mexico is among the top exporters of hair care products worldwide.
In Brazil, consumers rely heavily on local companies, such as Natura &Co and Grupo Boticário, but also in Colombia, the nation’s own Grupo Familia leads the list of most reputable companies in the beauty and personal care industry in Colombia. Nevertheless, international cosmetics companies, such as L'Oréal or Avon, are also highly regarded in those Latin American markets.
Latin American consumers use local brands, such as Natura and O Boticário to fulfill their beauty and personal care needs. Furthermore, they value products with natural ingredients, which comes as no surprise, seeing as the region is home to countless natural products such as cocoa butter, buriti, and Amazonian white clay.
Personal hygiene demonstrates the greatest opportunity within the beauty and personal care market in Latin America, as it occupies a market share of roughly 30 percent. Other segments of importance in the Latin American cosmetics and personal care market are fragrances and hair care. For instance, Chile is the largest importer for hair products in Latin America, while Mexico is among the top exporters of hair care products worldwide.
Leading cosmetics companies and brands in Latin America
The potential of the personal hygiene sector is further illustrated by the consumer choices when it comes to the most popular brands in Latin American households. By far the leading brand is Colgate, known for its oral hygiene products, however, the personal care multinationals Dove, Palmolive, and Rexona (Degree) are also among the leading brands.In Brazil, consumers rely heavily on local companies, such as Natura &Co and Grupo Boticário, but also in Colombia, the nation’s own Grupo Familia leads the list of most reputable companies in the beauty and personal care industry in Colombia. Nevertheless, international cosmetics companies, such as L'Oréal or Avon, are also highly regarded in those Latin American markets.
Consumer insights
In 2023, some of the most used personal care products by Argentinian and Chilean consumers included oral, dental, and personal hygiene products, highlighting yet again the importance of these sectors. The sectors which followed personal hygiene in terms of market share - fragrances and hair care - were also the runners-up when it comes to consumer consumption. While for Brazilian consumers the quality and the brand of a product were decisive purchasing factors for personal care products, Mexican consumers placed more value on quality and skin compatibility. Furthermore, it is worth noting that for both Brazilian and Mexican consumers, natural cosmetics were among the leading 10 purchase criteria for personal care products.Latin American consumers use local brands, such as Natura and O Boticário to fulfill their beauty and personal care needs. Furthermore, they value products with natural ingredients, which comes as no surprise, seeing as the region is home to countless natural products such as cocoa butter, buriti, and Amazonian white clay.
