South America Cosmetics Products Market Size (2024 - 2029)

The South American cosmetics market is experiencing significant growth, driven by increasing consumer awareness and demand for innovative beauty products. The market's expansion is fueled by the rising popularity of color cosmetics among millennials and a shift towards natural, organic, and cruelty-free products. Additionally, eco-friendly packaging and stringent regulations regarding product safety and efficacy are contributing to the market's growth. Manufacturers are responding to these trends by collaborating to enhance their offerings in the natural cosmetics sector, further influencing the market's size and dynamics.

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Market Size of South America Cosmetics Products Industry

South America Cosmetics Products Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.80 %
Market Concentration Medium

Major Players

South America Cosmetics Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

South America Cosmetics Products Market Analysis

The South American cosmetics products market is projected to register a CAGR of 6.8% in the upcoming five years.

  • South America is one of the world's fastest-growing and most vibrant cosmetics markets globally. Moreover, innovation in beauty products has continued to drive the sales of cosmetics products in the market. The increasing consciousness of customers about their appearance is one of the major reasons driving market expansion. Millennials are increasingly using color cosmetics items such as foundation, blush, lipsticks, and eye shadow as part of their regular grooming routine, which in turn, is fueling growth in the market across the region.
  • On the other hand, the increasing demand for natural, organic, cruelty-free cosmetic products and innovative and eco-friendly packaging designs are expected to expand the overall size in the coming years. In line with changing consumer behavior, manufacturers are collaborating with other players to expand their portfolio in the natural cosmetic category. For instance, in 2020, Aveda partnered with LACES and Hair, an environment-conscious hair salon and spa, to expand its full range of Aveda's naturally-derived products and services, including customized hair color, shine, and conditioning treatments in Brazil.
  • As product safety and efficacy testing brings added value to cosmetics, there has been an increasing demand for clinical testing in the region, supported by ongoing government efforts to impose strict regulations on the cosmetics industry. For instance, in November 2021, the National Health Surveillance Agency (Anvisa), the Brazilian agency responsible for inspecting the safety of drugs and cosmetics, published a technical note (Nota Tecnica (NT) 5/2021) specifying the procedures for labeling the ingredients in cosmetic products that are sold in the country.

South America Cosmetics Products Industry Segmentation

A "cosmetic" is any substance used to clean, improve or change the complexion, skin, hair, nails, or teeth. Cosmetics include beauty preparations (make-up, perfume, skin cream, nail polish) and grooming aids (soap, shampoo, shaving cream, deodorant)

The South American cosmetics market is segmented by product type and distribution channel. Based on product type, the market is segmented into color cosmetics and hairstyling and coloring products. Based on the distribution channel, the market is segmented into hypermarkets/supermarkets, specialty stores, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into Brazil, Argentina, and the Rest of South America. 

For each segment, the market sizing and forecast have been done based on value (in USD million).

Product Type
Color Cosmetics
Facial Make-Up Products
Eye Make-Up Products
Lip and Nail Make-up Products
Hair Styling and Coloring Products
Hair Colors
Hair Styling Products
Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Other Distribution Channels
Geography
Brazil
Argentina
Rest of South America
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South America Cosmetics Products Market Size Summary

The South American cosmetics market is experiencing robust growth, driven by a surge in consumer awareness about personal appearance and a shift towards functional and hybrid beauty products. This vibrant market is characterized by a strong demand for innovative beauty solutions, including color cosmetics and skincare products that offer additional benefits such as anti-aging and skin health improvements. The trend towards natural, organic, and cruelty-free products is gaining momentum, with consumers increasingly seeking products that align with their values and lifestyle. Manufacturers are responding by expanding their portfolios to include eco-friendly and naturally-derived products, often through strategic collaborations and partnerships. The regulatory landscape is also evolving, with stricter safety and efficacy testing requirements, further influencing product development and consumer trust.

In Argentina, the market is buoyed by the rising number of working women and millennials who are more conscious of their physical appearance. This has led to a growing demand for long-lasting, waterproof, and vitamin-enhanced makeup products. The increasing awareness of the harmful effects of certain chemical compounds is driving the popularity of natural and organic cosmetics, prompting manufacturers to innovate with natural ingredients. The shift towards online shopping is also enhancing the accessibility and sales of facial cosmetics, with key players leveraging e-commerce platforms to reach a broader audience. Major companies like L'Oreal, Shiseido, Avon, and Estée Lauder are focusing on product innovation and strategic mergers and acquisitions to strengthen their market position and expand their geographic reach, ensuring they remain competitive in this dynamic market landscape.

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South America Cosmetics Products Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Color Cosmetics

        1. 2.1.1.1 Facial Make-Up Products

        2. 2.1.1.2 Eye Make-Up Products

        3. 2.1.1.3 Lip and Nail Make-up Products

      2. 2.1.2 Hair Styling and Coloring Products

        1. 2.1.2.1 Hair Colors

        2. 2.1.2.2 Hair Styling Products

    2. 2.2 Distribution Channel

      1. 2.2.1 Supermarkets/Hypermarkets

      2. 2.2.2 Convenience Stores

      3. 2.2.3 Specialty Stores

      4. 2.2.4 Online Stores

      5. 2.2.5 Other Distribution Channels

    3. 2.3 Geography

      1. 2.3.1 Brazil

      2. 2.3.2 Argentina

      3. 2.3.3 Rest of South America

South America Cosmetics Products Market Size FAQs

The South America Cosmetics Products Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)

L'Oréal S.A., Oriflame Cosmetics Global SA., Shiseido Company, Limited, The Estée Lauder Companies Inc. and Avon Products, Inc. are the major companies operating in the South America Cosmetics Products Market.

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