Colombia Country Focus – Part 3: The Facial Care Products 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 3: COLOMBIA –THE FACIAL CARE PRODUCTS MARKET

Like its economy, Colombia’s population has grown over the last few years, from the 42.53 million in 2003 to 2013’s 48.93 million, with 51.83 million predicted for 2018. These numbers are reflected directly in the population’s consumption and which aid institutions to draw up growth predictions in industry and commerce sectors, and, as in our research, in the cosmetics market segment.

The Colombian facial care products retail market grew from 313.7 billion Colombian pesos in 2006 to 478.4 billion in 2012, with this expected to rise to 635.3 billion Colombian pesos in 2017.

Growth in this market segment’s value rose from 4.9% in 2007 to 7.9% in 2012, peaking at 8.9% in 2010 and 2011. The average annual growth expected over the next five years is 5.8% in local currency.

2006 saw the segment turning over 106.4 million Euros in the retail market, with this increasing to 207.5 million in 2012 and 242.5 million Euros expected for 2017, equaling a 5.6% average annual growth rate 2013-2017.

Colombia’s facial care products market segment totaled 20.1% in 2012. The country saw its greatest growth of the last few years in 2010: 28.9%.

Spending per capita in the Colombian facial care products market segment went up from 2006’s 2.391 Euros to 4.294 Euros in 2012, with an continued increase to 4.730 Euros expected for 2017.

The facial care products retail market as proportion of gross domestic product (GDP) was around 0.08171% in 2006; 0.07189% in 2012 and is expected to hover around 0.06664% in 2013.

The Colombian facial care products retail market segment saw profits of 443.5 billion Colombian pesos in 2011, rising to 478.4 billion in 2012, divided as follows:

Anti-Aging Products: 168.2 billion Colombian pesos in 2011; 181.8 billion in 2012.

Moisturizing Products: 108.2 billion Colombian pesos in 2011; 119.6 billion in 2012.

Skin Lightening Products: 62.5 billion Colombian pesos in 2011; 68.4 billion in 2012.

Cleansing and Toning Products: 39.0 billion Colombian pesos in 2011; 42.1 billion in 2012.

Specialized Products: 40.8 billion Colombian pesos in 2011; 39.2 billion in 2012.

Face Masks: 24.8 billion Colombian pesos in 2011; 27.3 billion in 2012.

Average annual growth in Colombia in this market segment 2008-2012 was 8.5%, with predicted annual growth over the next five years 5.6%.

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

Unilever PLC – In 2011 had 46.7 % of the market; in 2012 46.9%.

Beiersdorf AG – In 2011 had 26.8 % of the market; in 2012 27.0%.

Genomma Lab – In 2011 had 9.9% of the market; in 2012 9.8%.

The L’Oréal Group – In 2011 had 7.5% of the market; in 2012 7.6%.

Johnson & Johnson Services, Inc. – In 2011 had 5.2% of the market; in 2012 5.4%.

Procter & Gamble Co.  – In 2011 had 1.6% of the market; the same, 1.6%, in 2012.

Others – In 2011 had 2.3% of the market; in 2012 1.7%.

Facial care products. Market and retail research data:

The research was carried out in a market which includes anti-aging products, skin lighteners, moisturizers, cleansing and toning products, face masks and special products for feminine facial skin care. It excludes medicinal products, such as those for acne treatment.

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.

Definitions of retail segment

Anti-aging
This segment includes serums, lotions and creams with anti-aging properties.
Skin cleansing and toning products
This segment includes wet wipes, liquid cleansers, sprays, makeup remover and exfoliates.
Moisturizers
This segment largely includes creams and lotions whose primary function is moisturizing and hydrating the skin.
Skin lighteners
This segment includes creams, lotions and foaming products specially made to lighten the skin. 
Specialized
This segment includes products for lips, eyes, nose and neck, and specific treatment products.

Included in the research: Sales through popular channels, such as hypermarkets and drug store chains, and select sales via prestige points of sale, such as in department stores and fragrance stores.
Excluded from the research: Products specifically aimed at men; depilatory and lightening products for facial hair; medicated products (such as blackhead treatments, or products for skin problems); sprays; baby care products; sun screens, even if they include moisturizers.

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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