The Mexico beauty and personal care market size was valued at USD 8.4 billion in 2020 and is anticipated to surpass USD 15.5 billion by 2028, expanding at a CAGR of 7.2% during the forecast period, 2021–2028. The growth of the market is attributed to the rising disposable income, growing beauty consciousness, and changing consumer taste in fashion. Mexico is one of the largest nations in terms of economy and size in North America.
Mexican culture is described by limits of riches and poverty, with a restricted working class wedged between a tip top unit of landowners and financial backers from one perspective and masses of country and metropolitan poor on the other. Be that as it may, disregarding the difficulties it faces as an emerging nation, Mexico is one of the chief economic and political powers in North America. It has a unique mechanical base, huge mineral assets, a wide-going help area, and the world's biggest population of Spanish speakers, more than that of Spain and Columbia.
The report on the Mexico beauty and personal care market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Mexico Beauty and Personal Care Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Products (Facial Care, Lip Care, Body Care, Foot Care, and Hand Care), Types (Premium Products and Standard Products), Distribution channel (Retail Stores, Supermarkets, Convenience Stores, Drug Stores, Online Retail Channels, Spas and Beauty Clinic and Others) |
Geographic Zone |
Mexico |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Avon Cosmetics, Colgate-Palmolive Company, Unilever PLC, Procter & Gamble, and L’Oréal Paris |
Based on products, the Mexico beauty and personal care market is segmented into Facial Care, Lip Care, Body Care, Foot Care, and Hand Care. The facial care segment is anticipated to register robust growth rate during the forecast period owing to increasing awareness and urge to have a beautiful and healthier facial appearance among the consumers. The facial care segment comprises of face creams, sun care protection, cleansing cosmetics, and lotions. On the other hand, the body care segment is expected to witness a healthy CAGR in the coming years. The segment growth is attributed to growing concerns regarding skin diseases in the recent years owing to increasing population levels in the country.
In terms of types, the Mexico beauty and personal care market is bifurcated into premium products and standard products. The premium products segment is projected to exhibit significant CAGR during the forecast period. The premium product is expected to witness a growth rate of 12%. The segment growth is attributed to market entry of several new brands in the recent years and the aspirational values which these premium products boast over the standard products.
On the basis of distribution channel, the Mexico beauty and personal care market is segregated into retail stores, supermarkets, convenience stores, drug stores, online retail channels, spas and beauty clinic and others. The retail stores segment is expected to represent major market share of more than 35% during the forecast period. However, the online retail channels are projected to expand at a substantial growth rate in the coming years owing to shift in consumer buying experiences over the last few years.
Key players competing in the Mexico beauty and personal care market include Avon Cosmetics, Colgate-Palmolive Company, Unilever PLC, Procter & Gamble, and L’Oréal Paris. Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
Key players competing in the Mexico beauty and personal care market include Avon Cosmetics, Colgate-Palmolive Company, Unilever PLC, Procter & Gamble, and L’Oréal Paris. Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
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