Colombia Country Focus – Part 2: The Body Care Market

in-cosmetics Brasil has been granted access to research undertaken by Mintel (a world leading research company) into the cosmetics market in several Latin American countries. The study maps out each sector of the industry and shows growth over recent years and future projections and perspectives. 

We analyzed the research and over the coming weeks will share this information via several articles on our website.

PART 2: COLOMBIA –THE BODY CARE MARKET

Colombia’s cosmetics market has seen marked growth over the last few years, reflecting the burgeoning economy and the population’s increased purchasing power. According to ANDI (the National Business Association of Colombia) Colombia’s GDP (gross domestic product) has more than doubled in twelve years, from 2,587,52 dollars in 2000 to 7,142,711 in 2012.

Retail sales for the body care products segment grew from 188.1 billion Colombian pesos in 2006 to 343.9 billion in 2012, with expectations for 2017 seeing totals reach 540.7 billion. From 2008 to 2012 average annual growth was 10.2%, with 2008 growth 13.8%, the highest of this period. Projections for 2012-2017 put average yearly growth at 9.2%.

Turnover in this segment in 2006 was 63.80 million Euros, reaching 149.2 million in 2012, with expectations for 2017 at 206.4 million Euros. The year 2012 saw a profit of 20.8%, and the greatest growth in the body care products segment in recent years in Colombia was in 2010: 30.6%.

Colombian spending per capita on body care products rose from 2006’s 1.434 Euros to 3.088 Euros in 2012, with expectations that 2017 will see this rise to 4.026 Euros.

The retail market in this segment as proportion of GDP (gross domestic product) was 0.04900% in 2006, 0.05168% in 2012 and is expected to hover around 0.05672% in 2013.

Colombia’s body care products market segment was 316.9 billion Colombia pesos in 2011, divided into a turnover of 283.0 billion in body care products, 20.6 billion in hand and nail care products and 13.3 in foot care products. In 2012 total sales in the segment rose to 343.9 billion Colombia pesos with that breaking down as 307.1 billion in body care products, 22.7 billion in hand and nail care products and 14.1 billion in foot care products.

Market share of companies in Colombia’s body care products sector:

Avon Products Inc. – In 2011 had 28.6% of the market; in 2012 26.1%.

Corporación Belcorp – In 2011 had 21.3 % of the market; in 2012 21.4%.

Johnson & Johnson Services, Inc. – In 2011 had 17.5% of the market; in 2012 18.0%.

Beiersdorf AG – In 2011 had 7.2% of the market; in 2012 8.6%.

Unique-Yanbal Group – In 2011 had 7.5% of the market; in 2012 7.7%.

Natura Cosméticos SA – In 2011 had 6.5% of the market; in 2012 7.4%.

Unilever PLC – In 2011 had 5.3% of the market; in 2012 5.5%.

Others – In 2011 had 6.1% of the market; in 2012 5.3%.

SUMMARY: ANNUAL GROWTH RATE

Colombia’s annual growth rate in the body care products segment over the last five years was 10.5%.

Predicted average annual growth over the next five years is 9.2%.

Body care products. Market and retail research data:

Retail Market definitions: 
The research was carried out in a market which includes products for hands, feet and body care in general, for women and men. Market value is based on sales across all retail channels, including direct sales to the customer. It includes the popular products and first-line products markets, and excludes the professional sector, such as sales in beauty salons.

Definition of segments: 
Body: This segment includes general body care products: exfoliates; moisturizers; body-size reduction products; anti-cellulite products and skin nourishment products. 
Feet: This segment includes products such as creams, balsams and wet wipes. 
Hands / Nails: This segment includes hand moisturizers and anti-aging products; nail-food creams and cuticle creams.

Included in the research: sales to mass markets, such as hypermarkets and drug store chains, and via prestige points of sale, such as in department stores and fragrance stores. 
Excluded from the research: Depilatory and skin-whitening products; talcum powder; nail products: false nails, varnishes; foot deodorizers; talcum powder; insoles; medication; baby care products; sun screens, even if they include moisturizers, massage products and soothing oils.

To access further research into cosmetics and personal care markets worldwide please visit the Mintel website.

See more cosmetics and personal care articles 

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