Market Size of Colombia Beauty And Personal Care Products Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 3.30 Billion |
Market Size (2029) | USD 4.32 Billion |
CAGR (2024 - 2029) | 5.54 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Colombia Beauty And Personal Care Products Market Analysis
The Colombia Beauty And Personal Care Products Market size is estimated at USD 3.30 billion in 2024, and is expected to reach USD 4.32 billion by 2029, growing at a CAGR of 5.54% during the forecast period (2024-2029).
The increasing awareness of customers about their appearance is one of the major reasons driving the market’s growth. Millennials are increasingly using beauty and personal care products across Colombia's beauty and personal care products market. Customers use skincare, color cosmetics, and hair care products as part of their regular grooming routine. The introduction of cosmetics with natural, organic, and non-toxic components has also aided market expansion. The easy accessibility of these cosmetic items through various sales channels such as pharmacies, specialty stores, and beauty salons has aided the market's rise in terms of value sales. Furthermore, the growing focus of male customers on skincare and grooming to improve their physical appearance and take better care of their skin is expected to provide significant potential prospects.
As more and more women have been joining the workforce, there has been an increase in women seeking more beauty and personal care products to look well-groomed and presentable. According to the World Bank data, the labor force participation rate among females in Colombia is 51.4%. Hence, owing to the new opportunities in the market, many players have been attempting to explore Colombia’s beauty and personal care market. For instance, in November 2023, Lili Pink, a Colombian company, launched its new Beauty & Wellness category across Latin America. The product range includes more than 50 makeup and body care products, including foundations, concealers, powders, shadow palettes, blushes, contours, eyelashes, lipsticks, moisturizing creams, and splashes.
The high self-consciousness regarding physical appearance among customers and the growing awareness about the importance of personal hygiene and personal care, coupled with the increasing innovations in beauty and personal care products in the market, are anticipated to drive Colombia’s beauty and personal care products market during the forecast period.
Colombia Beauty And Personal Care Products Industry Segmentation
Beauty and personal care products include a wide range of products, including skincare products, hair care products, bath and shower products, oral care products, color cosmetics, perfumes and fragrances, and deodorants, that both men and women use to maintain their hygiene and enhance their facial and body appearance. The Colombian beauty and personal care products market is segmented by product type, category, and distribution channel. By product type, it is segmented into personal care products, cosmetic/makeup products, and fragrances. The personal care products segment is further segmented into haircare products (shampoo, conditioner, and other haircare products), skincare products (facial care products, body care products, and lip care products), bath and shower (shower gels, soaps, and other bath and shower products), oral care (toothbrush and replacements, toothpaste, and other oral care products), men's grooming products, and deodorants. The cosmetics/makeup products segment of the market includes facial cosmetics, eye cosmetics, lip and nail makeup products, and hair styling and coloring products. By category, the market is segmented into mass products and premium products. By distribution channel, the market has been segmented into specialty stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail stores, direct selling, and other distribution channels. The market sizing has been done in value terms (USD) for all the abovementioned segments.
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Fragrances |
Category | |
Mass Products | |
Premium Products |
Distribution Channel | |
Specialty Stores | |
Supermarkets/Hypermarkets | |
Convenience Stores | |
Pharmacies/Drug Stores | |
Online Retail Stores | |
Direct Selling | |
Other Distribution Channels |
Colombia Beauty And Personal Care Products Market Size Summary
The beauty and personal care products market in Colombia is experiencing significant growth, driven by increasing consumer awareness about personal appearance and hygiene. The market is characterized by a rising demand for skincare, color cosmetics, and hair care products, with millennials and working women being key consumer segments. The introduction of products with natural, organic, and non-toxic ingredients has further fueled market expansion. The accessibility of these products through various sales channels, including pharmacies, specialty stores, and beauty salons, has contributed to the market's value growth. Additionally, the growing interest among male consumers in skincare and grooming presents new opportunities for market players. The market is also witnessing a shift towards natural and organic bath and shower products, as consumers become more conscious of the ingredients in their personal care items.
The Colombian beauty and personal care market is becoming increasingly fragmented, with numerous players vying for market share. Major companies such as The Procter & Gamble Company, Colgate-Palmolive Company, Natura & Co, Unilever Plc, and Grupo Belcorp are focusing on product innovation and multi-service offerings to meet the diverse needs of consumers. The rise of e-commerce has significantly impacted the market, providing consumers with convenient shopping options and access to a wide range of products. Technological advancements, such as AI and augmented reality features in online retail, are enhancing the shopping experience and driving market growth. Companies are also emphasizing sustainability and the use of natural ingredients to differentiate their products and build a positive brand image. Strategic partnerships, acquisitions, and expansions are common strategies employed by market players to strengthen their positions and cater to the evolving demands of Colombian consumers.
Colombia Beauty And Personal Care Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Strong Focus on Personal Health and Hygiene
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1.1.2 Aggressive Marketing and Advertising Strategies by Brands
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1.2 Market Restraints
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1.2.1 Enhanced Presence of Counterfeit Beauty and Personal Care Products
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Personal Care Products
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2.1.1.1 Hair Care Products
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2.1.1.1.1 Shampoo
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2.1.1.1.2 Conditioner
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2.1.1.1.3 Other Hair Care Products
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2.1.1.2 Skincare Products
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2.1.1.2.1 Facial Care Products
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2.1.1.2.2 Body Care Products
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2.1.1.2.3 Lip Care Products
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2.1.1.3 Bath and Shower
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2.1.1.3.1 Shower Gels
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2.1.1.3.2 Soaps
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2.1.1.3.3 Other Bath and Shower Products
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2.1.1.4 Oral Care
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2.1.1.4.1 Toothbrush and Replacements
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2.1.1.4.2 Toothpaste
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2.1.1.4.3 Other Oral Care Products
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2.1.1.5 Men's Grooming Products
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2.1.1.6 Deodorants and Antiperspirants
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2.1.2 Cosmetics/Make-up Products
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2.1.2.1 Facial Cosmetics
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2.1.2.2 Eye Cosmetics
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2.1.2.3 Lip and Nail Make-up Products
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2.1.2.4 Hair Styling and Coloring Products
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2.1.3 Fragrances
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2.2 Category
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2.2.1 Mass Products
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2.2.2 Premium Products
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2.3 Distribution Channel
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2.3.1 Specialty Stores
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2.3.2 Supermarkets/Hypermarkets
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2.3.3 Convenience Stores
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2.3.4 Pharmacies/Drug Stores
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2.3.5 Online Retail Stores
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2.3.6 Direct Selling
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2.3.7 Other Distribution Channels
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Colombia Beauty And Personal Care Products Market Size FAQs
How big is the Colombia Beauty And Personal Care Products Market?
The Colombia Beauty And Personal Care Products Market size is expected to reach USD 3.30 billion in 2024 and grow at a CAGR of 5.54% to reach USD 4.32 billion by 2029.
What is the current Colombia Beauty And Personal Care Products Market size?
In 2024, the Colombia Beauty And Personal Care Products Market size is expected to reach USD 3.30 billion.