Chile's import of beauty, make-up, and skin care preparations showed a year-on-year increase of 3.15% in 2023, standing at 225.66 million US dollars. Looking back, the compound annual growth rate (CAGR) over the past five years was 3.14%, signaling steady but moderate growth. Notably, there were periods of significant fluctuation, such as the double-digit increase in 2017 and the slight decline in 2020. Looking ahead, the forecasted CAGR for the next five years is 2.32%, indicating a slower growth rate but still positive momentum. By 2028, imports are projected to reach approximately 261.61 million US dollars, reflecting an overall growth of 12.17% over this period.
Future trends to watch for:
- Increased consumer demand for natural and organic beauty products.
- Influence of social media and beauty influencers on consumer preferences.
- Potential regulatory changes affecting import tariffs and product standards.
- Impact of global economic conditions on disposable income and spending patterns.