Latin America Hair Care Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Hair Care Market Analysis
The Latin America Hair Care market is projected to register a CAGR of 4.10% during the forecast period.
- The idea that natural substances are "better for you" has always been prevalent and deeply entrenched among Latin American consumers of cosmetics and personal care products. However, as Latin American beauty consumers become more aware and as the value of natural, organic, and/or vegan components rises globally, "fully backed" claims will become more and more important.
- Additionally, scalp care, anti-pollution, UV protection, and detoxifying treatments are becoming more and more popular among customers as a result of climate change and rising pollution. Beauty firms have an opportunity to interact with the local consumer base by utilizing personalization through products that are tailored to regional preferences and cultures.
- Under the hair care market, Latin American consumers continue to adopt a more rational approach toward purchases of hair care items. More specifically, Brazil is expected to be a highly demanding market in the region owing to its diversity, population size, and consumer engagement level. Millennials are currently adopting the global trend of self-acceptance by embracing their natural textures and curls owing to that straight hair is considered a beauty standard.
- As per the statistics given by L'oreal, more than 40% of female consumers have curly hair in Brazil, which promotes the company to launch a new product i.e. Elseve Óleo Extraordinário Cachos range (Elseve Extraordinary Curl Oil) which is introduced from curly to frizzy hair. It is prepared with coconut and some other oils which promote bouncy, ultra-soft, and shiny curls.
Latin America Hair Care Market Trends
Increasing Consumer Expenditure Towards Natural Hair Care Products
There has been increasing inclination towards plant extract ingredients in hair care products in Latin American countries, such as aloe and rosemary extract, and plant oils such as argan and jojoba oil due to their conditioning, regenerating and healing properties, with plant extracts mostly used in shampoos, and plant oils mainly found in conditioners, due to their emollient properties. There is also increasing use of natural sensory ingredients in hair care, as they render the scent and appearance of products more appealing, while also enhancing their performance. For instance, in February 2022, Sephora a retailer of personal care and beauty products helps Carolina Contreras an afro-Latina beauty influencer launch a line of natural hair care products. Under the direction of Sephora's Accelerate program, Contreras' products will be offered at their retail locations.
During the previous years, the main strategy of companies to capture the attention of consumers was towards the launch of hair care products with natural ingredients and environmentally friendly packaging. Among the most important of such brands is Sedal Bomba de Nutrición, from Unilever de Argentina SA, in standard shampoos and conditioners, with ingredients of natural origin, such as avocado and shea butter.
Increasing Expenditure on Advertisement & Promotional Activities
The companies operating in the Latin American hair care market have a strong portfolio of brands positioned to target different audiences in the region, moreover, these companies are continuously engaging in strong branding campaigns to increase their market share in the region studied.
Latin American internet users are one of the most active users all over the world. It is one of the world's fastest-growing e-commerce marketplaces, and the digitally-connected consumers make the region ideal for beauty companies that can set the standard for effective digital marketing. Brazil is without a doubt the e-commerce hub of Latin America as it has one of the largest online markets. For instance, In August 2019, Grupo Boticário acquired the cosmetics e-commerce site "Beauty on the Web". The company trying to increase its share of internet sales through this acquisition. In Beauty on the Web, more than 360 national or international hair, skin, perfumery, body, and makeup brands are sold.
Promotions and discounts in Argentina have been the main strategy to try to maintain sales of hair care during the previous year. Promotions of type two for the price of one, or a second item with a significant discount were very frequent, thus driving the sales forward in the market studied.
Latin America Hair Care Industry Overview
The hair care market in Latin America is moderately fragmented. Some of the prominent companies operating in the Latin American hair care market are Unilever, L'Oreal, S.A., and Procter & Gamble. The key players have increasingly strategized on gaining larger market shares in these countries, via constant product innovation, merger and acquisition, advertisement expenses, and R&D investments, to develop niche products. In 2022, P&G spent around USD 1.4 billion on acquisitions, majorly related to the purchase of skincare brands Farmacy Beauty and Tula and haircare company Ouai.
Latin America Hair Care Market Leaders
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Procter & Gamble
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L'Oréal S.A.
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Coty
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Unilever PLC
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Henkel AG & Company, KGaA
*Disclaimer: Major Players sorted in no particular order
Latin America Hair Care Market News
- In February 2023, Unilever plans to establish a new manufacturing facility in the Nuevo Leon region of Mexico. The company plans to invest USD 400 million in the Latin American market over the next three years. The new facility manufactures beauty and personal care products.
- In January 2021, Forever Liss a brand of Forever Company Cosmeticos LTDA launched shampoo for hair wetting treatment. The product is enriched with a combination of castor oil, coconut oil, castor oil, and vitamin D to serve all hair types. However, it is particularly recommended for oil control and healthy hair growth.
- In September 2021, Grupo Coala do Brasil launched the cosmetics brand, Coala Beauty. The brand's primary offering is the repair and deep hydration of the strands, bringing together potent natural actives, such as Shea Butter, Coconut Lipids, Okra Extract, Acai Extract, Avocado Oil, Sunflower Oil, and Macadamia Oil. The brand has an initial range of 30 SKUs and nine lines for all hair types.
Latin America Hair Care Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Shampoo
- 5.1.2 Conditioner
- 5.1.3 Hair Loss Treatment Products
- 5.1.4 Hair Colorants
- 5.1.5 Hair Styling Products
- 5.1.6 Perms and Relaxants
- 5.1.7 Other Product Types
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5.2 Distribution Channel
- 5.2.1 Supermarket/ Hypermarket
- 5.2.2 Convenience Stores
- 5.2.3 Specialty Stores
- 5.2.4 Pharmacies/ Drug Stores
- 5.2.5 Online Retail Stores
- 5.2.6 Other Distribution Channels
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5.3 Country
- 5.3.1 Brazil
- 5.3.2 Mexico
- 5.3.3 Argentina
- 5.3.4 Colombia
- 5.3.5 Rest of Latin America
6. COMPETITIVE LANDSCAPE
- 6.1 Strategies Adopted by Leading Players
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Unilever PLC
- 6.3.2 Procter & Gamble Company
- 6.3.3 L'Oreal S.A.
- 6.3.4 Henkel AG & Company, KGaA
- 6.3.5 Johnson & Johnson Services, Inc.
- 6.3.6 Genomma Lab Internacional S.A.B. de C.V.
- 6.3.7 Coty Inc.
- 6.3.8 Santiago Saenz S.A.
- 6.3.9 Alticor (Amway)
- 6.3.10 Embelleze
- 6.3.11 Grupo Coala do Brasil
- 6.3.12 Forever Company Cosmeticos LTDA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Latin America Hair Care Industry Segmentation
Haircare products are grooming and nourishing products used for styling, cleaning, and maintaining a person's hair. The Latin American hair care market is segmented into product types, distribution channels, and geography. By product types, the market is segmented into shampoo, conditioner, hair loss treatment products, hair colorants, hair styling products, perms and relaxants, and other product types. By distribution channel, the market is segmented by supermarkets/hypermarkets, convenience stores, specialty stores, pharmacies/ drug stores, online retail stores, and other distribution channels. Based on geography, the market is segmented into Brazil, Mexico, Argentina, Colombia, and the Rest of Latin America. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | Shampoo |
| Conditioner | |
| Hair Loss Treatment Products | |
| Hair Colorants | |
| Hair Styling Products | |
| Perms and Relaxants | |
| Other Product Types | |
| Distribution Channel | Supermarket/ Hypermarket |
| Convenience Stores | |
| Specialty Stores | |
| Pharmacies/ Drug Stores | |
| Online Retail Stores | |
| Other Distribution Channels | |
| Country | Brazil |
| Mexico | |
| Argentina | |
| Colombia | |
| Rest of Latin America |
Latin America Hair Care Market Research FAQs
What is the current Latin America Hair Care Market size?
The Latin America Hair Care Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Latin America Hair Care Market?
Procter & Gamble, L'Oréal S.A., Coty, Unilever PLC and Henkel AG & Company, KGaA are the major companies operating in the Latin America Hair Care Market.
What years does this Latin America Hair Care Market cover?
The report covers the Latin America Hair Care Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Hair Care Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Hair Care Industry Report
Statistics for the 2024 Latin America Hair Care market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Hair Care analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
