Market Trends of Mexico Beauty And Personal Care Industry
Trend of Skinimalism Induces the Demand for Beauty Products
Skinimalism has gained relevance in the country, as consumers follow a slow beauty movement focusing on using fewer but better products. Skincare brands are responding to the growing trend through different initiatives, such as higher transparency, certifications, and better ingredients and packaging. For instance, AHAL is known for its natural and eco-friendly skincare products, free from sulfates, parabens, and synthetic fragrances. In addition, skin issues such as solar dermatitis and melasma are a widespread concern in the country due to excessive exposure to sun ultraviolet (UV) radiation. The rising prevalence of skin issues among Mexicans has led them to adopt sun production regimes, including sunscreen or sun-protecting products. The growing demand for sun protection products allows skincare brands to introduce tailor-made or unique formulations to cater to consumers' demands. For instance, Coppertone offers a range of sun protection products, including lotions, sprays, and creams, designed to provide adequate UV ray protection for various outdoor activities.
On the other hand, growing awareness regarding the benefits of using active skincare ingredients among consumers and rising demand for skincare products that help prevent and repair skin damage supports the market growth. With the growing knowledge, consumers are reaching for skin-replenishing ingredients for hydration, such as hyaluronic acid and ceramides, and skin-repairing ingredients, such as niacinamide, peptides, and retinol. For instance, in 2022, Merck, a leading science and technology company, introduced two new cosmetic ingredients, namely RonaCare Baobab and RonaCare Hibiscus, specifically developed to actively promote beautiful, youthful skin. Thus, the rising number of Mexican consumers following skincare beauty trends and using advanced skincare routines, along with an increased willingness to spend on effective skincare products, is augmenting the market growth.
E-Commerce to Foster the Market Growth Significantly
E-commerce cosmetic products such as foundation, face powder, blush, concealer, nail polish, and lipstick offer the convenience of shopping from anywhere at any time. The e-commerce industry has witnessed tremendous growth in Mexico in the past three years with the 18-45 age group continuously engaged in shopping and contributing to the growth. According to the International Trade Administration, the number of Mexican eCommerce users in 2021 increased by 11% over the previous year to 57.5 million, thus boosting the growth of e-commerce in the country. Further, the availability of a wide range of products and discounted prices offered compared to other distribution channels is expected to drive e-commerce growth in Mexico.
In addition, consumers can browse a wide range of products, compare prices and features, and make purchases with just a few clicks. This convenience factor has significantly contributed to the growth of e-commerce in the cosmetic products industry. E-commerce platforms provide access to various facial cosmetics from multiple brands and manufacturers. As a result, consumers can explore a wide range of options in shades, formulas, and finishes, boosting the market demand for e-commerce cosmetic products. For instance, in June 2022, as part of its digital transformation, Avon, a Brazilian company owned by Natura & Co., launched its e-commerce platform in Mexico. There were seven categories on Avon's e-commerce platform: skincare, makeup, facial care, personal care, and others. Such initiatives boost e-commerce as a medium of easy and convenient shopping platform for customers, bolstering the market growth of the beauty industry.
