Chile’s economy has been buoyant over the last few years, encouraging companies to invest in innovation and fostering a more competitive market that grows daily. Among other highlights of Chile’s trends and investment opportunities is the makeup market, a sector looking set to grow in Chile over the next few years.
Chile’s color cosmetics market had a turnover of approximately 63 billion Chilean pesos in 2007 and 78 billion in 2012, with the forecast for 2017 97 billion Chilean pesos in sales. Growth in retail market value in local currency was 4.2% in 2007 and 4.3% in 2012, with the forecast for 2017 growth of 4.0%.
Chile’s retail market turnover in dollars was 120 million in 2007 and 161 million dollars in 2012, with the forecast for 2017 being 161 million again. This market dropped in value in 2014, but it is expected to grow again from 2015. In percentage growth was 5.8% in 2007 and 14.2% in 2010 (the greatest growth of the last few years), with the forecast for 2017 growth of 2.8%.
Spending per capita of the Chilean population in the color cosmetics market was 7.23 dollars in 2007 and 9.28 in 2012, with the forecast for 2017 8.88. The segment as proportion of Chile’s gross domestic product (GDP) was around 0.069362 in 2007 and 0.060648 in 2012, with the forecast for 2017 around 0.052907.
Overall, Chile’s color cosmetics market had a turnover of 75.36 billion Chilean pesos in 2011, divided into a turnover of 27.88 billion in products for eyes, 16.58 billion in products for nails, 16.58 billion in products for face and 14.32 billion Chilean pesos in in products for lips.
In 2012 the market turned over 78.60 billion Chilean pesos, divided into a turnover of 28.29 billion in products for eyes, 18.61 in products for nails, 17.29 billion in products for face and 14.40 billion Chilean pesos in in products for lips.
Summary: Annual Growth Rate
Over the last 5 years, Chile’s mean annual growth rate in the color cosmetics segment was 4.6%.
Over the next 5 years, the forecast is for a mean annual growth rate of 4.2%.
Companies market share in Chile’s color cosmetics segment:
The L’Oréal Group
In 2010 the company had 50.0% of the market; in 2011 47.8% and in 2012 45.4% of the market.
Cosmética Nacional S.A
In 2010 the company had 13.0% of the market; in 2011 14.0% and in 2012 12.2% of the market.
Laboratorio Petrizzio S.A.
In 2010 the company had 11.5% of the market; in 2011 12.0% and in 2012 10.4% of the market.
Laboratorio Prater S.A .
In 2010 the company had 10.0% of the market; in 2011 10.3% and in 2012 8.3% of the market.
Laboratorio Arensburq SAIC
In 2010 the company had 5.0% of the market; in 2011 5.3% and in 2012 7.5% of the market.
In 2010 the company had 10.5% of the market; in 2011 10.6%, and in 2012 16.2% of the market.
Color cosmetics. Research data.
Retail market definitions: The research was carried out in a market that includes makeup for eyes, face, lips and varnishes for women’s nails. Excluded from the research were nail varnish remover, medicated products including lip balm and cosmetic ‘falsies’ such as false eyelashes and nails. Market value is based on dales across all retail channels, including direct sale to the consumer and selected outlets.
Eyes: This segment includes products for eyebrows, false eyelashes / mascaras, eye pencils and eye shadows.
Face: This segment includes blushers, bronzers, correctors, base, face powder and primers.
Lips: This segment includes lipsticks / lip glosses and lip pencils.
Nails: This segment includes varnishes and base coats.
Excluded from the research: Nail varnish remover, medicated products including lip balm and cosmetic ‘falsies’.
Source: Pesquisa Mintel / Mintel Research