Body care retail market grows in Colombia

Body care retail market grows in Colombia

By Silvia Lourenço

The cosmetics segment in Colombia has been expanding and displaying new features and innovation every year. The country, which is placed as the 31st world economy, has a large number of national companies in the cosmetics segment, but the Colombian people also appreciate imported products.

The body care segment has demonstrated a sound growth in Colombia. In 2011, the retail market value in Colombian pesos was 301.1 billion. In 2016, the value reached 438.5 billion and it is expected to reach 631.9 billion in sales by 2021. The retail market growth in local currency was 10.2 % in 2011, 8.5 % in 2016 and the outlook for 2021 is an 8.2% growth.

The market value for the body care segment in Colombia was 162.9 million US dollars in 2011. In 2016, the retail resulted in 143.5 million of US dollars. The forecast for 2017 is that the market will reach 162.6 million, and it is expected to hit 180.1 million by 2020. In percentage, the growth recorded in the sector was 13.2% in 2011, a retraction of -2.6% in 2016, and a growth forecast of 13.3% in 2017 and 3.7% in 2020.

The retail market spend per capita for the Colombian population in the body care segment was 3.510 US dollars in 2011, 2.950 in 2016, and it is expected to reach 3.793 in 2021.
The retail market spends as a proportion of the GDP (Gross Domestic Product) was 0.04856 in 2011, 0.05082 in 2016 and the forecast is around 0.05101 in 2020.

The Colombian body care retail market segmentation by value was 404.0 billion of Colombian pesos in 2015, of which, 366.2 billion in body products, 23.0 billion in hands and nails products, and 14.8 billion in foot products. In 2016, the retail market segmentation recorded a growth of 438.5 billion of Colombian pesos, split 401.0 billion in body products, 22.4 billion in hands and nails products, and 15.1 billion in foot products.

Overview: Annual Growth Rate

  • In the last 5 years the annual growth rate for body care products in Colombia was 7.6%.
  • In the next 5 years the average annual growth rate is expected to be 7.1%

Company retail market share for the body care segment in Colombia.

  • Johnson & Johnson. – 19.1% of the market share in 2015, 19.0% in 2016.
  •  Avon Products Inc. – 17.7% of the market share in 2015, 17.9% in 2016.
  •  Beiersdorf AG – 13.2% of the market share in 2015, 12.8% in 2016.
  •  Corporacion Belcorp – 11.6% of the market share in 2015, 11.8% in 2016.
  •  Natura Cosméticos S.A. – 8.5% of the market share both in 2015 and 2016.
  •  Corporacion Yanbal International – 7.3% of the market share in 2015, 7.4% in 2016.
  •  Unilever PLC – 6.1% of the market share in 2015, 5.9% in 2016.
  •  Others – 16.5% of the market share in 2015, 16.7% in 2016.

Body care products. About the research process.

Retail market definition: The research was carried out within the retail market that covers hand, foot and general body care for women & men. Market value is based on sales through all retail channels including direct to consumer. It includes mass market and prestige lines but excludes the professional sector, including beauty salons, to the consumer.

Segment definitions

  • Body: This comprises general body: exfoliates/scrubs; moisturisers/hydrators; and slimming/anti-cellulite/firming products.
  • Foot: This comprises cream/balms/wipes.
  • Hand / Nail: This comprises hand moisturisers and anti-ageing products; and nail nourishes, cuticle creams/ridge fillers.

Inclusions: This should be through both mass market channels (e.g. hypermarkets drugstore chains) and selective/prestige (e.g. department stores, perfumeries).
Exclusions: Depilatories and bleaches, talcum powder, nail polish/varnish/cosmetics/colour, foot deodorants/talc/insoles. Medicated. Products specifically for babies. Sun care even if they have moisturisers. Massage/calming oils.

Article produced in July 2017.

Source:Mintel. “Body Care – Latin America – Mintel Market Sizes”.




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