Colombia Beauty And Personal Care Products Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.30 Billion |
| Market Size (2029) | USD 4.32 Billion |
| CAGR (2024 - 2029) | 5.54 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Colombia Beauty And Personal Care Products Market Analysis
The Colombia Beauty And Personal Care Products Market size is estimated at USD 3.30 billion in 2024, and is expected to reach USD 4.32 billion by 2029, growing at a CAGR of 5.54% during the forecast period (2024-2029).
The increasing awareness of customers about their appearance is one of the major reasons driving the market’s growth. Millennials are increasingly using beauty and personal care products across Colombia's beauty and personal care products market. Customers use skincare, color cosmetics, and hair care products as part of their regular grooming routine. The introduction of cosmetics with natural, organic, and non-toxic components has also aided market expansion. The easy accessibility of these cosmetic items through various sales channels such as pharmacies, specialty stores, and beauty salons has aided the market's rise in terms of value sales. Furthermore, the growing focus of male customers on skincare and grooming to improve their physical appearance and take better care of their skin is expected to provide significant potential prospects.
As more and more women have been joining the workforce, there has been an increase in women seeking more beauty and personal care products to look well-groomed and presentable. According to the World Bank data, the labor force participation rate among females in Colombia is 51.4%. Hence, owing to the new opportunities in the market, many players have been attempting to explore Colombia’s beauty and personal care market. For instance, in November 2023, Lili Pink, a Colombian company, launched its new Beauty & Wellness category across Latin America. The product range includes more than 50 makeup and body care products, including foundations, concealers, powders, shadow palettes, blushes, contours, eyelashes, lipsticks, moisturizing creams, and splashes.
The high self-consciousness regarding physical appearance among customers and the growing awareness about the importance of personal hygiene and personal care, coupled with the increasing innovations in beauty and personal care products in the market, are anticipated to drive Colombia’s beauty and personal care products market during the forecast period.
Colombia Beauty And Personal Care Products Market Trends
The Bath and Shower Products Segment is the Fastest-growing Segment
The market is witnessing an increasing demand for natural and organic bath and shower products due to consumer awareness about the harmful effects of specific compounds in regular soaps and body washes, such as parabens and aluminum. Consumers' preferences are based on the organic products' efficacy, long-lasting protection, and clinical properties. Furthermore, customers across the country have shown an inclination toward bath and shower products with botanical extracts. The players operating in the market have been offering bath and shower products with natural ingredients like botanical extracts to appeal to consumers. For example, Natural Conexion offers liquid soap with calendula and chamomile botanical extracts.
Additionally, the increased consumer awareness regarding the benefits of maintaining regular hygiene has been significantly boosting the bath and shower market segment. The players operating in the market have been offering various product variants to suit different customer segments with different skin types. For instance, Dove is a popular brand in Colombia. The brand offers a range of moisturizing body wash and soap products for customers seeking gentle and nourishing products. The Aveeno brand offers bath and shower products that are formulated to suit sensitive skin. Hence, the availability of such products also plays a crucial role in driving the market. The country has been importing soaps and other bath and shower products to meet the growing demand for such products among customers. According to the Observatory of Economic Complexity, the import of soap products in Colombia amounted to approximately USD 26.53 million in 2022. Moreover, consumers are opting for more expensive and aesthetically appealing bath additives with different fragrances and effective ingredients. Product claims by companies such as antiseptic, therapeutic, germ-resistant, and virus-killing are attracting more consumers.
Online Retail Stores are Driving the Beauty and Personal Care Products Market in Colombia
The sale of beauty and personal care products via online sales channels is witnessing immense growth in Colombia. The main reason behind the rise in sales through e-commerce retailing is the time-saving factor for consumers. Consumers can browse and shop for products 24X7. Additionally, they find it easy to choose their preferred brands and get vast varieties of personal care products as per their own needs and preferences. E-commerce also allows customers in remote areas or those with limited access to physical stores to purchase beauty products. Moreover, the increasing internet penetration across the country is also helping the beauty and personal care products market in Colombia. According to the International Telecommunication Union, 72.8% of the Colombian population had access to the internet as of 2022.
Beauty and personal care companies and online retail stores across the country have been integrating AI and offering try-on features for customers. Belcorp integrated Perfect Corp.'s artificial intelligence (AI) and augmented reality (AR) powered virtual try-on technology to provide its customers with a personalized online shopping experience. Perfect Corp. combined AI with AR to provide lifelike virtual try-on experiences to customers. The experience allowed customers to select from the thousands of products available under the Ésika, L'Bel, and Cyzone brands, virtually try on the products, and find suitable products for themselves. Hence, the technological advancements in online retail stores, intended to increase customer engagement and provide a personalized shopping experience, can further drive the Colombian beauty and personal care products market over the forecast period.
Colombia Beauty And Personal Care Products Industry Overview
Colombia's beauty and personal care products market is fragmented, with various players operating in the market. The major players include The Procter & Gamble Company, Colgate-Palmolive Company, Natura & Co, Unilever Plc, and Grupo Belcorp. The market players have been focusing on multi-service offerings and launching new products to cater to the growing demand for beauty and personal care products.
Market players have constantly attempted to differentiate their products and attract customers by using unique selling propositions. Companies use natural and botanical extracts in their products to provide more skin benefits. Also, companies have been incorporating sustainability concepts to build a positive brand among customers and drive the sales of their products. They have also been using various strategies like product innovations, mergers and acquisitions, partnerships, and expansions to efficiently compete with other rivals and strengthen their respective positions in the market.
Colombia Beauty And Personal Care Products Market Leaders
-
Colgate-Palmolive Company
-
Natura & Co.
-
Grupo Belcorp
-
Unilever Plc
-
The Procter & Gamble Company
*Disclaimer: Major Players sorted in no particular order
Colombia Beauty And Personal Care Products Market News
- August 2023: Ésika, the beauty brand owned by Belcorp, partnered with Proximity BBDO Colombia. The partnership was intended to concentrate the brand's initial efforts on the fragrances segment of the market. The strategic step sought to inject vitality into the brand's presence in Colombia and Latin America.
- August 2023: L'Oréal Professionnel Paris launched its new hair care product called Scalp Advanced at the French Mansion in Colombia. The company claimed that its new product could provide up to 83% relief from sensitive scalp discomfort and could eliminate up to 100% of visible dandruff.
- July 2022: Loto del Sur, a natural cosmetics brand in Colombia that offers a range of natural products made from Latin American flora, was acquired by Barcelona-based Puig Group. The acquisition was intended to maintain Puig’s commitment to boost the brand’s leadership in Latin America and bolster its international growth.
Colombia Beauty And Personal Care Products 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 Strong Focus on Personal Health and Hygiene
4.1.2 Aggressive Marketing and Advertising Strategies by Brands
4.2 Market Restraints
4.2.1 Enhanced Presence of Counterfeit Beauty and Personal Care 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 By Product Type
5.1.1 Personal Care Products
5.1.1.1 Hair Care Products
5.1.1.1.1 Shampoo
5.1.1.1.2 Conditioner
5.1.1.1.3 Other Hair Care Products
5.1.1.2 Skincare Products
5.1.1.2.1 Facial Care Products
5.1.1.2.2 Body Care Products
5.1.1.2.3 Lip Care Products
5.1.1.3 Bath and Shower
5.1.1.3.1 Shower Gels
5.1.1.3.2 Soaps
5.1.1.3.3 Other Bath and Shower Products
5.1.1.4 Oral Care
5.1.1.4.1 Toothbrush and Replacements
5.1.1.4.2 Toothpaste
5.1.1.4.3 Other Oral Care Products
5.1.1.5 Men's Grooming Products
5.1.1.6 Deodorants and Antiperspirants
5.1.2 Cosmetics/Make-up Products
5.1.2.1 Facial Cosmetics
5.1.2.2 Eye Cosmetics
5.1.2.3 Lip and Nail Make-up Products
5.1.2.4 Hair Styling and Coloring Products
5.1.3 Fragrances
5.2 Category
5.2.1 Mass Products
5.2.2 Premium Products
5.3 Distribution Channel
5.3.1 Specialty Stores
5.3.2 Supermarkets/Hypermarkets
5.3.3 Convenience Stores
5.3.4 Pharmacies/Drug Stores
5.3.5 Online Retail Stores
5.3.6 Direct Selling
5.3.7 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Colgate-Palmolive Company
6.3.2 Natura & Co
6.3.3 Grupo Belcrop
6.3.4 Unilever Plc
6.3.5 The Procter & Gamble Company
6.3.6 Yanbal de Colombia SAS
6.3.7 L'Oreal SA
6.3.8 The Estee Lauder Companies Inc.
6.3.9 Grupo Familia
6.3.10 Johnson & Johnson Services Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Colombia Beauty And Personal Care Products Industry Segmentation
Beauty and personal care products include a wide range of products, including skincare products, hair care products, bath and shower products, oral care products, color cosmetics, perfumes and fragrances, and deodorants, that both men and women use to maintain their hygiene and enhance their facial and body appearance. The Colombian beauty and personal care products market is segmented by product type, category, and distribution channel. By product type, it is segmented into personal care products, cosmetic/makeup products, and fragrances. The personal care products segment is further segmented into haircare products (shampoo, conditioner, and other haircare products), skincare products (facial care products, body care products, and lip care products), bath and shower (shower gels, soaps, and other bath and shower products), oral care (toothbrush and replacements, toothpaste, and other oral care products), men's grooming products, and deodorants. The cosmetics/makeup products segment of the market includes facial cosmetics, eye cosmetics, lip and nail makeup products, and hair styling and coloring products. By category, the market is segmented into mass products and premium products. By distribution channel, the market has been segmented into specialty stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail stores, direct selling, and other distribution channels. The market sizing has been done in value terms (USD) for all the abovementioned segments.
| By Product Type | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
| ||||||||||||||||||||||||
| Fragrances |
| Category | |
| Mass Products | |
| Premium Products |
| Distribution Channel | |
| Specialty Stores | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Pharmacies/Drug Stores | |
| Online Retail Stores | |
| Direct Selling | |
| Other Distribution Channels |
Colombia Beauty And Personal Care Products Market Research FAQs
How big is the Colombia Beauty And Personal Care Products Market?
The Colombia Beauty And Personal Care Products Market size is expected to reach USD 3.30 billion in 2024 and grow at a CAGR of 5.54% to reach USD 4.32 billion by 2029.
What is the current Colombia Beauty And Personal Care Products Market size?
In 2024, the Colombia Beauty And Personal Care Products Market size is expected to reach USD 3.30 billion.
Who are the key players in Colombia Beauty And Personal Care Products Market?
Colgate-Palmolive Company, Natura & Co., Grupo Belcorp, Unilever Plc and The Procter & Gamble Company are the major companies operating in the Colombia Beauty And Personal Care Products Market.
What years does this Colombia Beauty And Personal Care Products Market cover, and what was the market size in 2023?
In 2023, the Colombia Beauty And Personal Care Products Market size was estimated at USD 3.12 billion. The report covers the Colombia Beauty And Personal Care Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Beauty And Personal Care Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Colombia Beauty And Personal Care Products Industry Report
Statistics for the 2024 Colombia Beauty And Personal Care Products market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Colombia Beauty And Personal Care Products analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
