By Silvia Lourenço

The Colombian fragrance retail market value was 1,305.4 billion of Colombian Pesos in 2012. In 2015, it reached 1,460.2 billion, and the 2020’s estimate is 1,788.4 billion of Colombian Pesos in retail. The market value growth in local currency was 7.2% in 2012, 4.7% in 2015, and the forecast for 2020 is 3.2%.

In US Dollars, the fragrance retail Market value in Colombia was 726.02 million in 2012. In 2015, there was a retraction and the retail market hit 532.57 million of US Dollars. From 2017 on, the market has grown back, and it is expected to reach something around 551.41million of US Dollars in 2020. In percentage, that represents a growth of 10.2% in 2012, a retraction of -23.6% in 2015, and a growth perspective of 0.7% in 2020.

The Colombian fragrance retail market spend per capita was 15.49 US Dollars in 2012, 11.04 in 2015, and it is expected to reach 10.98 US Dollars in 2020.

The segment’s retail market spend as a proportion of the GDP (Gross Domestic Product) in Colombia was 0.19652 in 2012, 0.18268 in 2015 and the forecast for 2020 is that it must be around 0.015616.

The fragrance retail market segmentation by value in Colombia was 1,394.4 billion of Colombian pesos in 2014, of which, 776.6 million in women’s products, and 617.8 million in men’s products. In 2015, the segment’s value grew 1,460.2 billion of Colombia pesos, divided in 817.8 million in women’s products, and 642.4 million in men’s products.

Overview: Annual Growth Rate

In the last 5 years the annual growth rate for fragrances in Colombia 4.6%.
In the next 5 years the average annual growth rate is expected to be 4.0%.

Company retail market share for the fragrance segment in Colombia

• Belcorp Corporation – 27.9% of the market share in 2014, 27.5% in 2015.
• Yanbal International – 18.5% of the market share in 2014, 19.4% in 2015.
• Avon Products Inc. – 13.1% of the market share in 2014, 12.9% in 2015.
• La Riviera S.A.S. – 7.4% of the market share in 2014, 7.6% in 2015.
• The L’Oréal Group – 4.8% of the market share in 2014, 4.6% in 2015.
• Natura Cosméticos S.A. – 4.0% of the market share in 2014, 4.3% in 2015.
• Coty Inc. – 4.2% of the market share in 2014, 4.0% in 2015.
• Belleza Express S.A. – 2.9% of the market share in 2014, 3.0% in 2015.
• Perfumes y cosméticos Internacionales S.A. – 2.3% of the market share in both 2014 and 2015.
• Others – 14.9% of the market share in 2014, 14.4% in 2015

Fragrances – About the research process

Retail market definition:
This market covers men’s and women’s fragrances. It excludes body sprays. Market size is based on all retail sales including direct to consumer.

Segment definitions:
Men’s: This segment includes mass and prestige lines.
Women’s: This segment includes mass and prestige lines and unisex products.

Inclusions Men’s and women’s fragrances. Unisex are included in the women’s segment. Prestige, mid and mass market sectors are included. Perfume, eau de parfum, eau de toilette, eau de cologne, aftershave, colognes.
Exclusions: Body sprays, shaving preparations and children’s fragrances.

Article produced in July 2017
Source: Mintel
“Fragrances – Latin America – Mintel Market Sizes”.