Colombia has a population of 50 million people and its toiletries, fragrance and cosmetics (HPPC) industry has had great growth in recent years. The color cosmetics sector is one of those showing great potential for opportunities and new trends.
Colombia’s turnover in this market in 2008 was the equivalent of 464 billion Colombian pesos; turnover in 2013 578 billion and the forecast for 2016 is a growth to 799 billion Colombian pesos in sales. Growth in retail market value in local currency was 6.4% in 2008, 8.1% in 2011 and the forecast for 2016 is growth to 7.2%.
Colombia’s retail market turnover in dollars was 236 million in 2008, 312 million dollars in 2011 and the forecast for 2016 is 384 million. In percentages this represents a growth of 12.5% in 2008, 11.1% in 2011 and the forecast for 2016 is growth of 5.1%.
Spending per capita of the Colombian population in the color cosmetics market was 5.155 dollars in 2008, 6.560 in 2011 and the forecast for 2016 is 7.586.
The segment as proportion of Colombia’s gross domestic product (GDP) was around 0.09664 in 2008, 0.09328 in 2011 and the forecast is that it will hover around 0.09159 in 2016.
Overall Colombia’s color cosmetics market totaled 534.9 billion Colombian pesos in 2010, split into a turnover of 176.8 billion in eye products, 171.7 in lip products, 108.9 billion in face products and 77.5 billion Colombian pesos in nail products. In 2011 total sales in this segment grew to 578.2 billion Colombian pesos, split into a turnover of 198.6 billion in eye products, 174.7 in lip products, 120.8 billion in face products and 84.1 billion Colombian pesos in nail products.
Summary: Annual Growth Rate
Over the last 5 years Colombia’s mean annual growth rate in the color cosmetics segment was 7.3%.
The forecast for the next 5 years is for a mean annual growth rate of 6.5%.
Companies’ market share in Colombia’s color cosmetics market:
Avon Products Inc.
In 2011, 22.5%.
Belcorp
In 2011, 20.4%.
Yanbal Group
In 2011, 8.9%.
Laboratórios de Cosmeticos Voque
In 2011, 7.6%.
Oriflame Cosmetics S.A
In 2011, 4.7%.
Procter & Gamble Co.
In 2011, 3.5%.
The L’Oréal Group
In 2011, 3.2%.
Cerescos Ltda
In 2011, 2.8%.
Laboratorios Smart S.A
In 2011, 2.5%.
Mercantil de Belleza
In 2011, 1.9%.
Natura Cosméticos SA.
In 2011, 1.9%.
Revlon Inc.
In 2011, 0.7%.
Others
In 2011, 19.4%.
Color Cosmetic. Research data.
Retail market definitions: The research was carried out in a market that includes cosmetics for eyes, face, lips, and varnishes for women’s nails. Excluded from the research are nail varnish removers, medicated products including lip balm, and enhancement / ‘falsies’ cosmetics such as false eyelashes and nails. Market value is based on sales across all retail channels, including direct sale to the consumer and selected outlets.
Segment definitions:
Eyes: This segment includes products for eyebrows, false eyelashes / mascaras, eyeliner / eye pencil and eye shadows.
Face: This segment includes blushers, bronzers, correctors, foundations, face powders and primers.
Lips: This segment includes lipstick / lip gloss and lip pencil.
Nails: This segment includes varnishes and bases.
Excluded from the research: Nail varnish remover, medicated products including lip balm, and enhancement / ‘falsies’ cosmetics.
Source: Pesquisa Mintel / Mintel Research