Chile Cosmetics Products Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 335.97 Million |
| Market Size (2029) | USD 576.99 Million |
| CAGR (2024 - 2029) | 11.43 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Chile Cosmetics Products Market Analysis
The Chile Cosmetics Products Market size is estimated at USD 335.97 million in 2024, and is expected to reach USD 576.99 million by 2029, growing at a CAGR of 11.43% during the forecast period (2024-2029).
Increasing focus on personal grooming habits is a key factor fueling industry growth. Introducing cosmetics with organic, natural, and non-toxic ingredients has also contributed to the industry’s growth in Chile. Additionally, the simple accessibility of these cosmetic items through various sales channels, such as online stores and e-commerce platforms, has aided the growth in value sales. Millennials, the most significant customer base, are increasingly using beauty products, such as color cosmetics, in their regular grooming routines. This, coupled with constant product innovations and variations, has broadened industry growth prospects. There is a growing demand for multifunctional products that offer multiple benefits in a single package. This trend is particularly appealing to price-conscious consumers who want value for their money.
Chile imports the majority of its cosmetic products from other countries. According to the UN Comtrade, in 2022, France and the United States were among the top countries of origin for beauty product imports in Chile. They accounted for 17.97% and 16.59% of Chile's total import value of beauty products. The Chilean cosmetics industry is evolving with a strong emphasis on innovation, natural ingredients, and the expanding influence of digital platforms. These factors are collectively driving industry growth and shaping consumer preferences in the country.
Chile Cosmetics Products Market Trends
Facial Cosmetic Products Dominate the Market
The Chilean beauty and personal care market is expanding rapidly, with facial cosmetics being a major segment within it. This growth is attributed to increased consumer awareness about skincare, the influence of social media, and the rising trend of self-care and grooming among people. The country imports the majority of its cosmetic products from other countries. According to data from UN Comtrade, make-up and beauty products accounted for the largest share of imports in Chile in 2022.
Facial cosmetics, which include products like foundations, concealers, face powders, anti-aging creams, serums, masks, and facial cleansers, are particularly popular due to the growing emphasis on maintaining youthful and healthy skin. Consumers are increasingly inclined toward personal grooming and appearance, particularly with a rising preference for natural and organic ingredients. This trend is evident in the higher demand for skincare products that include plant-based and herbaceous components to rejuvenate the skin and reduce signs of aging, such as wrinkles and pigmentation.
Moreover, the market for premium and mid-premium facial cosmetics is expanding, as Chilean consumers are willing to invest in higher-quality products that promise better results. This includes skincare products that also provide sun protection or anti-aging benefits.
Supermarkets/Hypermarkets Are the Most Preferred Distribution Channel
Supermarkets provide a one-stop shopping experience, allowing consumers to purchase cosmetics alongside groceries and other household items. The convenience of having a wide range of products under one roof appeals to busy consumers who prefer efficient shopping trips. They typically stock a broad selection of cosmetic brands and products, catering to diverse consumer preferences. This variety includes both mass-market and premium brands, ensuring that customers can find products that suit their needs and budgets.
Supermarkets in Chile often run promotions, discounts, and loyalty programs, making cosmetic products more attractive to price-sensitive consumers. These promotions can significantly boost sales, as consumers are more likely to purchase products when they perceive them as offering good value. Urbanization and the expansion of modern retail formats have contributed to the growth of supermarkets in urban areas, where a significant portion of the population resides. This urban presence ensures that a large customer base has easy access to cosmetic products. Further, young consumers in Chile prefer to buy beauty and cosmetics products from international brands in supermarkets/hypermarkets as they are easily accessible.
Chile Cosmetics Products Industry Overview
The emerging industry players are targeting leading brands by strategically acquiring industry leaders in more mature and sophisticated markets. The cosmetic industry is highly competitive, with major global players dominating it. Various players are entering the industry to tap into its untapped potential. Some major players in the industry include L’Oréal Group, Beiersdorf AG, The Estée Lauder Companies Inc., and Oriflame Cosmetics SA.
Other prominent players in the industry have been focusing on developing new and innovative products by targeting new formulations, thereby engineering the various unexplored ingredients. Thus, the industry is expected to witness numerous product launches during the forecast period.
Chile Cosmetics Products Market Leaders
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The Estée Lauder Companies Inc.
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L’Oréal Group
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Beiersdorf AG
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Avon Products, Inc.
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Oriflame Cosmetics S.A.
*Disclaimer: Major Players sorted in no particular order
Chile Cosmetics Products Market News
- March 2024: Avon launched the New Power Stay 16-hour Liquid Lipstick. The company claims that the product is formulated with pomegranate and olive oil extracts that last up to 16 hours without transferring or smudging.
- August 2023: KVD Beauty introduced its cutting-edge creation, the Full Sleeve Long + Defined Tubing Mascara. With a presence in Chile through multiple distribution channels, including Amazon, KVD Beauty continues to innovate and captivate.
- February 2023: Maybelline New York launched its Falsies Surreal Extensions mascara, boasting its first-ever avatar. This breakthrough mascara leverages a unique blend of long and short fibers and an extended helix brush adorned with long twisted bristles, all working in harmony to create extreme volume and achieve lashes that appear up to 36% longer.
Cosmetics in Chile 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
4.1.1 Increasing Demand for Vegan and Organic Cosmetic Products
4.1.2 Growing Consumer Inclination Towards Grooming and Appearance
4.2 Market Restraints
4.2.1 High Import Dependency Leading to High Price of the Final Products
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
5.1 Product Type
5.1.1 Face Cosmetics
5.1.2 Eye Cosmetics
5.1.3 Lip Cosmetics
5.1.4 Hair styling and coloring products
5.2 Category
5.2.1 Premium
5.2.2 Mass Merchandiser
5.3 Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Beauty Salons
5.3.3 Specialist Retailers
5.3.4 Online Retail
5.3.5 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 L'Oreal SA
6.3.2 Beiersdorf AG
6.3.3 The Estee Lauder Companies Inc.
6.3.4 Belcorp Corporation
6.3.5 Avon Products Inc.
6.3.6 Oriflame Cosmetics SA
6.3.7 Mary Kay Inc.
6.3.8 Nutra & Co.
6.3.9 Casa Del Estilista
6.3.10 Pamela Grant
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Chile Cosmetics Products Industry Segmentation
Cosmetics consist of natural or synthetically manufactured chemical compounds. The Chile cosmetics products market is segmented by product type, category, and distribution channel.
The market is segmented by product type, category, and distribution channel. By product type, the market is segmented into face cosmetics, eye cosmetics, lip cosmetics, hairstyling, and coloring products based on product type. By category, the market is segmented into premium and mass merchandiser. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, beauty salons, specialist retailers, online retail, and other distribution channels. The report offers market sizes and forecasts in value terms (USD) for all the above segments.
| Product Type | |
| Face Cosmetics | |
| Eye Cosmetics | |
| Lip Cosmetics | |
| Hair styling and coloring products |
| Category | |
| Premium | |
| Mass Merchandiser |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Beauty Salons | |
| Specialist Retailers | |
| Online Retail | |
| Other Distribution Channels |
Cosmetics in Chile Market Research FAQs
How big is the Chile Cosmetics Products Market?
The Chile Cosmetics Products Market size is expected to reach USD 335.97 million in 2024 and grow at a CAGR of 11.43% to reach USD 576.99 million by 2029.
What is the current Chile Cosmetics Products Market size?
In 2024, the Chile Cosmetics Products Market size is expected to reach USD 335.97 million.
Who are the key players in Chile Cosmetics Products Market?
The Estée Lauder Companies Inc., L’Oréal Group, Beiersdorf AG, Avon Products, Inc. and Oriflame Cosmetics S.A. are the major companies operating in the Chile Cosmetics Products Market.
What years does this Chile Cosmetics Products Market cover, and what was the market size in 2023?
In 2023, the Chile Cosmetics Products Market size was estimated at USD 297.57 million. The report covers the Chile Cosmetics Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Chile Cosmetics Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
How can companies compete in the established Chilean Cosmetics Market?
Companies can compete in the established Chilean Cosmetics Market through a) Highlighting unique selling propositions b) Effective marketing strategies c) Building brand awareness
Cosmetics in Chile Industry Report
The Chile cosmetics industry is experiencing robust growth, fueled by an increasing emphasis on personal grooming and a rising demand for organic, natural, and non-toxic ingredients. This market is also benefiting from the popularity of multifunctional cosmetics, which are particularly appealing to price-conscious consumers looking for products that offer multiple benefits. Influences from social media and millennials, who are major consumers of beauty products, are significantly driving market expansion. Current trends indicate a strong demand for hair styling and coloring products, spurred by evolving fashion trends and a demographic keen on maintaining a youthful look. Additionally, there is a growing preference for purchasing cosmetics from supermarkets and hypermarkets, known for their wide selection of international brands and superior shopping experiences. Market players are actively innovating, focusing on new product developments and expanding their product lines with unique formulations and ingredients to cater to a diverse consumer base and strengthen their presence in the competitive market. For detailed statistics on the Chile Cosmetics Products market share, size, revenue growth rate, and a market forecast outlook, download a free report PDF from Mordor Intelligence™ Industry Reports.
