Mexico Beauty and Personal Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The segment comprises of moisturizers, face and neck creams, cleansers, hand and body lotions, sun care products and other skin protection and cleansing cosmetics.The skin care market is one of the leading shareholders amongst other product segments, owing to increasing awareness about skin rituals and urge to have a beautiful and younger appearance among users. Mexico being one of the fastest growing population in the world greatly supplements the growth of skin care products, as Mexicans are likely to consume a considerable amount of skin care cosmetics. Innovation in this segment is driving product sales, allowing deeper penetration and expansion to new markets within the country. Furthermore, high internet reliability is driving the consumption of skin care from online retail, owing to lower costs and flexibility offered by the channel.

Key players are directing consumers to go online for buying cosmetic products. This dynamic turn with an innovative model is increasingly disrupting the longstanding industry norms. The e-commerce industry has witnessed tremendous growth in Mexico in the past three years, taking the lion’s chunk, with the 18-45 age group continuously engaged in shopping and contributing to the growth. The percentage of the population using the internet in Mexico was recorded as 44% in 2016 and is expected to reach nearly 50% by 2022, which can be considered as a trend that supports the growth of e-commerce. Availability of a wide range of products, coupled with discounted prices offered as compared to other distribution channels, is expected to drive the growth of e-commerce sales in Mexico.