Cosmetic market in Colombia grows 16% during the first semester of 2018
5 de septiembre de 2018
- Colombians invest $ 64 per year in the purchase of beauty products.
- Fragrances, oral care, male grooming, hair care, skin and makeup, are in their order, the categories that consume the most.
- Barranquilla, Bucaramanga and Cali, are the cities that acquire the most toiletries and personal care per capita.
- Peru, Ecuador, Mexico and Chile are the countries where products of Colombian origin are most exported, while Mexico, the United States, Brazil and Spain are the main suppliers of products for the country.
Bogota, Colombia. September of 2018- In a society where welfare and looking good is increasingly emphasized, talking about products exclusively for women does not turn out to be a profitable business. In Colombia, according to Euromonitor figures, during 2017, $ 5.373 billion on dollars of business were carried out within this industry, of which 18% corresponds to the male sector.
"If we analyze the growth options of the sector, we will note that the potential is still found in the male segment. In Colombia, for culture, man cares about his appearance and the products offered by the market today are still not enough. We as an industry must be able to offer them a range of alternatives that allow them to satisfy their needs", states Juan Carlos Castro Lozano, Executive Director of the Chamber of Cosmetic and Toilet Industry of ANDI.
According to the latest analysis carried out by the Chamber of the Cosmetic and Toilet Industry of the ANDI based on data from Euromonitor and Raddar, Colombia ranks fifth in the Latin American market preceded by Brazil, Mexico, Argentina and Chile.
"We have a very large growth potential since we are the 4th largest market in the region, however, in terms of per capita consumption we are the 9th. We are very proud because we are the only LATAM country that exports more than what matters in this segment of products”, precise Juan Carlos Castro Lozano.
Regarding consumer habits, Juan Carlos says that large cities continue to have greater purchasing power in each of the categories of the segment. However, in cities such as "Barranquilla, Bucaramanga and Cali, these are the cities that invest the most in the category of personal care, beauty and cosmetics; if we talk, for example, about distribution channels, retail stores and supermarkets continue to lead the market, followed by direct sales (catalog) and online".
In terms of market share: fragrances (20%), oral care (14%), male grooming (18%), hair care (16%), skin care (14%) and makeup (11%), are the categories with the greatest impact of the segment.
"Since 2017, we have been seeing important changes in the industry's consumption. It has not been easy for the economic and political context of the country, but we are convinced that by 2019 the industry will grow by 6% (...) we continue to participate in scenarios such as the Belleza y Salud trade show because it’s important for the small, medium and great entrepreneur as well as it´s the most important platform of diffusion at an international level that the industry can have ", concludes Juan Carlos Castro Lozano, Executive Director of the Chamber of the Cosmetic and Toilet Industry of ANDI.
The trade show, organized by the International Business and Exhibition Center of Bogotá (Corferias), with the support of Procolombia, the Chamber of Commerce of Bogotá and the Chamber of the Cosmetic and Toilet Industry of ANDI, promises to be a complete experience for the professional and the public that wants to know from experts the latest trends, products and services related to one of the most important industries in the country.