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Mexico Cosmetic Products Market

  • July 2017
  • 97 pages
  • Mordor Intelligence LLP
Report ID: 5023919

Summary

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The cosmetics or beauty products industry in the world is one sector which remains impervious to the ups and downs markets. Overall sales are indeed affected in the event of an economic downturn, but one can count on sales of cosmetics to maintain a certain volume overall. This is because of continuing and growing usage of products by women, and increasingly, by men, across the world.

Mexico is one of the largest economies of Latin America after Brazil. The Mexican cosmetics market, worth $ 9.75 billion as of 2015, is projected to grow at CAGR 7.72% to $ 14.13 billion by 2020. The market has shown healthy performance in 2015 compared to previous years. The predominant trends for cosmetics include lasting power and new color palettes, increasing market share for ethnic products, and an increased preference for vegan, organic and natural beauty products, enhanced through usage of other ingredients, to mitigate harmful effects of pollution, sun, dust, and harmful ingredients typically a part of cosmetic products.

Distribution is pervasive through exclusive stores of luxury products in malls or standalone but most commonly through direct selling channels by companies like Avon, Mary Kay and Jafra, while ecommerce is emerging as a competitor to direct sales for all mass and premium brands. Customers are increasingly looking for value for money products offering a makeup look and a range of other benefits like anti-ageing, fresh-looking, anti-pimples/sebum controlling, moisturizing, etc. and also contain the increasingly popular ingredient kind – natural ingredients. It is because of this, that products like BB, CC, DD and EE creams have increased in popularity.

Products which are value added and have this range of benefits otherwise available with premium brands are categorized under the new class “masstige”. Mid income customers are trading down from premium to masstige, and from masstige to mass market depending on purchasing power and the multi-benefits offered in products. While mass and masstige products are on demand by a large section of middle/low income Mexicans who are taking to home based DIY beauty treatments rather than do them in salons, the premium cosmetics category in Mexico has been on the rise.

Famous brands include Mary Kay, L’Oréal, Natura, Avon, Beiersdorf, Yanbal, Belcorp, Proctor & Gamble, Unilever, and Kimberly-Clark, among others.

Drivers

Increasing disposable incomes and inclination to look good, availability of new markets, increased spends by international companies looking to invest in the market, teens growing older younger and a large body of ageing population wanting to look younger by using cosmetics are some of the drivers of this market.

Challenges

Economic slowdown, a highly competitive market in both direct selling as well as store based selling, tighter purse strings, people wanting to opt for DIY beauty treatments at home instead of spending on salons, and some other factors make the challenges in this market.

What the report offers/b>

Market Definition for the specified topic along with identification of key drivers and restraints for the market
Market analysis for the Mexico Cosmetics Market, with region specific assessments and competition analysis on a Mexico and regional scale
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a Mexico and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
Identification and analysis of the Macro and Micro factors that affect the Mexico Cosmetics Market on both Mexico and regional scale
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

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