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The Brazil - cosmetics market size is estimated to grow at a CAGR of 6.97% between 2022 and 2027. The market size is forecast to increase by USD 4.72 billion.
This Brazilian cosmetics market report extensively covers market segmentation by product (skincare products, hair care products, color cosmetics, and fragrances and deodorants) and distribution channel (offline and online). It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
One of the key factors driving the Brazil cosmetics market growth is the rise in sales of cosmetics through e-commerce channels. There has been a significant contribution of online platforms to the cosmetics industry in Brazil. The main factor is due to the increasing penetration of the Internet and smart gadgets such as smartphones and tablets, which has fuelled the reach of online retailing in Brazil. As a result of The increasing adoption of such gadgets, it has made customers technology-driven which fuelled the use of the Internet. Therefore, it has increased the exposure of consumers to online platforms. There is an increasing preference among consumers to purchase cosmetics products through online platforms due to the ease of convenience. Additionally, several online retailers are offering occasional and specialized discounts on different beauty and personal care products which is positively impacting the Brazil - cosmetics market as well. Hence, such factors are expected to drive Brazil cosmetics market growth during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
A key factor shaping Brazil cosmetics market growth is the surging adoption of multichannel marketing. There is a significant role of social media [platforms in increasing product awareness. There is an increasing preference for social media platforms and blogs among consumers to educate themselves about cosmetics products. As a result, several market players leverage these platforms to increase awareness and promote their products.
Moreover, some of the main social media platforms used by online retailers for product promotion include Facebook, Twitter, Instagram, and YouTube. For example, LOreal has launched a system called TrendSpotter that uses artificial intelligence (AI) to analyze millions of comments, /images, and videos posted online. Hence, such factors are positively impacting the Brazil - cosmetics market. Therefore, it is expected to drive the Brazil cosmetics market growth during the forecast period.
The availability of counterfeit brands is one of the key challenges hindering the Brazil cosmetics market growth. It has become difficult for customers to differentiate counterfeit products from genuine products. due to their abundant presence in the market. These counterfeit products are available at much lower prices than the actual premium cosmetics as they are made of low-quality petrochemicals with low manufacturing costs. For example, it is estimated that, on an annual basis, more than 70% of Brazilians purchase fake goods.
Moreover, these factors significantly influence the sales and pricing strategy of the prominent market players selling premium cosmetics products. Additionally, these counterfeit products also hamper the reputation of brands as well as consumer confidence in the industry. Hence, such factors are negatively impacting the Brazil - cosmetics market. therefore it is expected to hinder the Brazil cosmetics market growth during the forecast period.
The increasing preference of consumers for the offline segment will increase market growth. The offline segment comprises specialty stores, hypermarkets and supermarkets, convenience stores, and drug stores. There is an increasing preference for the offline segment among consumers as it is the most effective and influential mode of distribution as it offers a touch-and-feel experience to consumers. One of the main revenue generators in the offline segment is the specialty stores retail formats due to the rising popularity of these stores among consumers for beauty and personal care. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the Brazil cosmetics market growth during the forecast period.
The skincare products segment is estimated to witness significant growth during the forecast period. Some of the key skincare products include topical creams, lotions, toners, exfoliators, and serums for the skin. There is an increasing adoption of skincare products among consumers for skincare solutions for anti-aging, skin-whitening, and sun protection. Additionally, this segment is extensively used to moisten, hydrate, and provide a smooth and blemish-less appearance to the skin. There is a growing popularity for this segment among consumers as they protect, hydrate, fight wrinkles, tighten, and replenish skin to keep the skin radiant and healthy-looking.
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The skincare products segment was the largest segment and was valued at USD 3.88 billion in 2017. In addition, several factors such as the increase in the older population in Brazil and advances in the technology used in manufacturing skincare products.are significantly contributing to the growth of the segment. Some of the prominent players in the cosmetic Brazilian cosmetic market such as LOreal are offering premium skincare products that stimulate the natural rejuvenation process of facial skin and enhance the complexion and appearance of the skin. Furthermore, it is considered that a majority of the products available in this market are free from parabens, fragrances, and other chemicals, which ensures their premiumization. Moreover, product premiumization is expected to significantly fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The Brazilian cosmetics market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Brazil Cosmetics Market Customer Landscape
The Brazil cosmetics market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Brazil Cosmetics Market Scope |
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Report Coverage |
Details |
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Page number |
128 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.97% |
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Market growth 2023-2027 |
USD 4.72 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.11 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agreste Cosmetica Brasil Ltda., Amyris Inc., Avon Products Inc., Beiersdorf AG, Beleza na Web, Chanel Ltd., Coty Inc., Grupo Boticario, Henkel AG and Co. KGaA, Johnson and Johnson, LOccitane Groupe SA, LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Natura and Co Holding SA, PUIG S.L., Shiseido Co. Ltd., The Estee Lauder Companies, The Procter and Gamble Co., Unilever PLC, and Kao Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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