The growth of colour cosmetics retail market in Colombia

The growth of colour cosmetics retail market in Colombia

By Silvia Lourenço

Colour cosmetics is the largest growth segment in terms of opportunity and worldwide trend. Colombia, a country that has a population of approximately 49 million people, will experiment a sound expansion in the segment in the following years.

In 2011, the retail market value of the colour cosmetics segments in Colombia was 596.1 billion of Colombian Pesos. In 2016, the annual revenue reached 781.1 billion and the forecast for the segment is projected to reach 1,093.0 trillion of Colombian Pesos in retail. The growth of the retail Market value in local currency was 8.1% in 2011, in 2016 it was 6.4% and the estimate for 2021 is an 8.0% growth.

The Colombian colour cosmetics retail market value in US Dollars was 322.6 million in 2011. There was a contraction in 2016 and the retail figures reached 255.7 million of US dollars. As from 2017, the market is set to return to growth reaching a 281.2 million revenue and it is expected to reach the mark of 297.2 million of US dollars in 2019. In percentage, the market advanced 11,1% in 2011, withheld a reduction of -4,5% in 2016, improved 10.0% in 2017, and the forecast predicts a 2.5% growth in 2019.

The Colombian colour cosmetics retail market spend per capita was 6.951 US dollars in 2011. It was reduced to 5.256 in and the estimate indicates that it will grow up to 5.961 in 2019. It is expected to reach 6.560 in 2012.

The retail Market spend as a proportion of the Colombian GDP (Gross Domestic Product) was 0.09617 in 2011, 0.09056 in 2016 and the growth perspective for 2021 is around 0.088706.

The retail Market segmentation by value in the Colombian colour cosmetics segment was 734.1 billion of Colombian pesos in 2015, with a revenue of 256.1 billion in eye products, 213.1 billion in lip products, 166.9 billion in face products, and 98.0 billion in nail products. In 2016, the retail Market segmentation made an advance of 781.1 billion of Colombian pesos, with a revenue 271.7 billion in eye product, 230.billions in lip product, 177.7 billion in face product, and 101.0 billion in nail product.

Overview: Compound annual growth rates

During the last 5 years the compound annual growth rate in the Colombian colour cosmetics segment stood at 6.1%. The annual growth is expected to be around 7.1% in the next 5 years.

The company retail Market share by value of the colour cosmetics segment in Colombia.

  • The L’Oreal Group – 19.0% of the market share in 2015, 19.5% in 2016.
  • Yanbal International – 13.5% of the market share in 2015, 13.8% in 2016.
  • Avon Products Inc. – 12.9% of the market share in 2015, 12.4% in 2016.
  • Belcorp Corporation – 12.5% of the market share in 2015, 12.3% in 2016.
  • Prebel S.A. – 7.8% of the market share in 2015, 8.0% in 2016.
  • Cerescos Ltda. – 4.8% of the market share in 2015, 4.7% in 2016.
  • Natura Cosméticos S.A. – 4.0% of the market share in 2015, 4.1% in 2016.
  • Oriflame Cosmetics S.A. – 3.7% of the market share in 2015, 3.7% in 2016.
  • Laboratorios Smart S.A. – 2.6% of the market share in 2015, 2.7% in 2016.
  • Hartung & Cía S.A. – 2.0% of the market share in 2015, 2.1% in 2016.
  • Others – 17.2% of the market share in 2015, 16.8% in 2016.

Colour Cosmetics. About the research process.

Market definition/Retail: This market covers eye, face, lip and nail colour cosmetics for women. It excludes nail varnish remover, medicated products including lip salves and cosmetics hardware such as false eye lashes and nails. Market value is based on sales through all retail channels including direct to consumer and selective outlets.

Segments definitions:

  • Eyes: This comprises brow, lash/mascaras, liner/pencils and shadow products.
  • Face: This comprises blushes, bronzers, concealers, foundation, powder and primers.
  • Lips: This comprises colour/gloss and liners.
  • Nails: This comprises nail polish/varnish.
  • Exclusions: Nail varnish remover, medicated products including lip salves, cosmetics hardware.

Article produced in July 2017.

Source: Mintel

“Colour Cosmetics – Latin America – Mintel Market Sizes”.

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