Market Size of Colombia Cosmetics Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.24 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Colombia Cosmetics Market Analysis
The Colombia Cosmetics Products Market size is expected to grow from USD 241.15 million in 2023 to USD 358.28 million by 2028, at a CAGR of 8.24% during the forecast period (2023-2028).
- Colombia is one of the fastest-growing countries in the cosmetics industry in Latin America due to rising consumer interest in color cosmetics products. According to the National Business Association of Colombia (Spanish: Asociación Nacional de Empresarios de Colombia (ANDI)) data, Colombia ranks fourth in sales of makeup and cosmetics products in Latin America. The improving quality of life, the positive effects of beauty and personal care on self-esteem and social interaction, and the gradual consumer shift toward premium and luxury cosmetic brands are a few factors that are likely to propel the market growth during the forecast period.
- In recent years, the changing lifestyles and the increased purchasing power of consumers have fuelled the development of the cosmetics market in the country. Moreover, an intense desire among consumers to retain youthful appearances has fueled the demand for cosmetics in the country. Colombian consumers are becoming cautious of potential toxicity in chemical-based cosmetics products.
- Thus, manufacturers using natural and organic ingredients and essential oils will likely report substantial growth. Major players operating in the market are investing heavily in research and development to introduce more products/product lines manufactured from natural ingredients extracted from organic plants, herbs, and flowers under eco-friendly conditions.
