Mexico Beauty and Personal Care Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 11.34 Billion |
| Market Size (2029) | USD 15.21 Billion |
| CAGR (2024 - 2029) | 6.05 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Mexico Beauty and Personal Care Market Analysis
The Mexico Beauty And Personal Care Market size is estimated at USD 11.34 billion in 2024, and is expected to reach USD 15.21 billion by 2029, growing at a CAGR of 6.05% during the forecast period (2024-2029).
The rise in the disposable income of consumers in Mexico, coupled with the growing inclination toward skinimalism, has induced people to spend on beauty products such as lip care, body care, and foot care, among others. For instance, according to the Flanders Investment & Trade Market Study 2022, Mexican consumers spend roughly USD 215 on cosmetics and personal care products yearly. Moreover, the increasing demand for natural or organic, no animal-tested, and cruelty-free cosmetic products and eco-friendly packaging designs is expected to further enhance the market growth.
On the other hand, consumers are increasingly becoming aware of synthetic chemicals used in cosmetic formulations and their potential side effects, leading to various health issues like skin irritation, allergies, skin dullness, toxicity, etc. This paves the way for enhanced demand for natural and organic beauty and personal care products. Cosmetic products of organic and natural ingredients are extensively demanded and do not negatively impact the skin. With a shift in preference from synthetic skincare products to organic products among consumers, beauty and personal care products manufacturers are capitalizing on this growing interest and expanding their product offerings by introducing a wide range of organic skincare products containing plant-based, clean-label ingredients, with claims such as 'organic,' 'vegan,' 'natural,' 'chemical-free' and 'cruelty-free,' among others. Thus, the increasing consumer inclination toward beauty products and awareness towards organic or natural products are expected to fuel the beauty industry growth during the forecast period.
Mexico Beauty and Personal Care Market Trends
Trend of Skinimalism Induces the Demand for Beauty Products
Skinimalism has gained relevance in the country, as consumers follow a slow beauty movement focusing on using fewer but better products. Skincare brands are responding to the growing trend through different initiatives, such as higher transparency, certifications, and better ingredients and packaging. For instance, AHAL is known for its natural and eco-friendly skincare products, free from sulfates, parabens, and synthetic fragrances. In addition, skin issues such as solar dermatitis and melasma are a widespread concern in the country due to excessive exposure to sun ultraviolet (UV) radiation. The rising prevalence of skin issues among Mexicans has led them to adopt sun production regimes, including sunscreen or sun-protecting products. The growing demand for sun protection products allows skincare brands to introduce tailor-made or unique formulations to cater to consumers' demands. For instance, Coppertone offers a range of sun protection products, including lotions, sprays, and creams, designed to provide adequate UV ray protection for various outdoor activities.
On the other hand, growing awareness regarding the benefits of using active skincare ingredients among consumers and rising demand for skincare products that help prevent and repair skin damage supports the market growth. With the growing knowledge, consumers are reaching for skin-replenishing ingredients for hydration, such as hyaluronic acid and ceramides, and skin-repairing ingredients, such as niacinamide, peptides, and retinol. For instance, in 2022, Merck, a leading science and technology company, introduced two new cosmetic ingredients, namely RonaCare Baobab and RonaCare Hibiscus, specifically developed to actively promote beautiful, youthful skin. Thus, the rising number of Mexican consumers following skincare beauty trends and using advanced skincare routines, along with an increased willingness to spend on effective skincare products, is augmenting the market growth.
E-Commerce to Foster the Market Growth Significantly
E-commerce cosmetic products such as foundation, face powder, blush, concealer, nail polish, and lipstick offer the convenience of shopping from anywhere at any time. The e-commerce industry has witnessed tremendous growth in Mexico in the past three years with the 18-45 age group continuously engaged in shopping and contributing to the growth. According to the International Trade Administration, the number of Mexican eCommerce users in 2021 increased by 11% over the previous year to 57.5 million, thus boosting the growth of e-commerce in the country. Further, the availability of a wide range of products and discounted prices offered compared to other distribution channels is expected to drive e-commerce growth in Mexico.
In addition, consumers can browse a wide range of products, compare prices and features, and make purchases with just a few clicks. This convenience factor has significantly contributed to the growth of e-commerce in the cosmetic products industry. E-commerce platforms provide access to various facial cosmetics from multiple brands and manufacturers. As a result, consumers can explore a wide range of options in shades, formulas, and finishes, boosting the market demand for e-commerce cosmetic products. For instance, in June 2022, as part of its digital transformation, Avon, a Brazilian company owned by Natura & Co., launched its e-commerce platform in Mexico. There were seven categories on Avon's e-commerce platform: skincare, makeup, facial care, personal care, and others. Such initiatives boost e-commerce as a medium of easy and convenient shopping platform for customers, bolstering the market growth of the beauty industry.
Mexico Beauty and Personal Care Industry Overview
The Mexico Beauty and Personal Care Market is fragmented and highly competitive, with the major players trying to maintain their market share and leadership by adopting various business strategies like product innovations, partnerships, expansion, mergers, and acquisitions. New product developments included line extensions of well-recognized brands, manufacturers entering new categories, new versions with natural ingredients associated with skincare benefits, new application formats, and improved formulations to differentiate from competitors. They also focus on building an online presence and developing online marketing strategies by tying up with various e-retail platforms. Unilever plc, The Procter & Gamble Company, Beiersdorf AG, Colgate-Palmolive Company, and Mary Kay are critical players in the country manufacturing beauty and skin care products.
Mexico Beauty and Personal Care Market Leaders
Beirsdorf AG
Unilever plc
The Procter & Gamble Company
Mary Kay
Colgate-Palmolive
*Disclaimer: Major Players sorted in no particular order
Mexico Beauty and Personal Care Market News
- September 2023: Amorepacific, 'Korea's largest' beauty conglomerate, launched its skincare brand, Laneige, in the Mexican beauty market. The expansion into Mexico is in partnership with Sephora Mexico.
- August 2023: Prada announced the worldwide launch of Prada Skin and Prada Color, debuting with the "Rethinking Beauty" campaign. The collection reimagines existing definitions and expectations to open new perspectives and possibilities of beauty.
- March 2022: Sephora (an LVMH brand) makeup and beauty products chain expanded in Mexico, opened five stores, and planned to open nearly 60 stores within five years.
Mexico Beauty and Personal Care Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Demand for Natural/Organic Beauty and Personal Care Products
4.1.2 Skincare Trends Revolutionizing Beauty Industry
4.2 Market Restraints
4.2.1 Counterfeiting In the Cosmetics And Personal Care Sector
4.3 Porters' Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Skin Care
5.1.1.1 Facial Care
5.1.1.2 Lip Care
5.1.1.3 Body Care
5.1.1.4 Foot and Hand Care
5.1.2 Oral Care
5.1.3 Hair Care
5.1.4 Perfumes & Fragrences
5.1.5 Deodorants
5.1.6 Bath & Shower
5.1.7 Color Cosmetics
5.2 Category
5.2.1 Mass
5.2.2 Premium
5.3 Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Specialty/Beauty Stores
5.3.3 Convenience/Grocery Stores
5.3.4 Pharamcies/Drugstores
5.3.5 Online Retail Stores
5.3.6 Others
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Unilever
6.3.2 Procter & Gamble
6.3.3 Colgate-Palmolive Company
6.3.4 Natura & Company
6.3.5 Beirsdorf AG
6.3.6 L'OREAL SA
6.3.7 Mary Kay
6.3.8 Estee Lauder Inc.
6.3.9 Johnson & Johnson Services Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Beauty and Personal Care Industry Segmentation
The beauty products are used to keep skin healthy and attractive, mainly facial, lip, and body care products. The Mexico beauty and personal care market is segmented by product type, category, and distribution channel. By product type, the market is segmented into skin care, oral care, hair care, perfumes & fragrances, deodorants, bath & shower, and color cosmetics. The skin care products are further segmented into facial, lip, body, and foot and hand care. By category, the market is segmented into premium products and mass products. By distribution channels, the market is divided into specialty/beauty stores, supermarkets/ hypermarkets, convenience/grocery stores, pharmacies/drugstores, online retail stores, and others. The market sizing has been done in value terms in USD for all the abovementioned segments.
| Product Type | ||||||
| ||||||
| Oral Care | ||||||
| Hair Care | ||||||
| Perfumes & Fragrences | ||||||
| Deodorants | ||||||
| Bath & Shower | ||||||
| Color Cosmetics |
| Category | |
| Mass | |
| Premium |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialty/Beauty Stores | |
| Convenience/Grocery Stores | |
| Pharamcies/Drugstores | |
| Online Retail Stores | |
| Others |
Mexico Beauty and Personal Care Market Research FAQs
How big is the Mexico Beauty and Personal Care Market?
The Mexico Beauty and Personal Care Market size is expected to reach USD 11.34 billion in 2024 and grow at a CAGR of 6.05% to reach USD 15.21 billion by 2029.
What is the current Mexico Beauty and Personal Care Market size?
In 2024, the Mexico Beauty and Personal Care Market size is expected to reach USD 11.34 billion.
Who are the key players in Mexico Beauty and Personal Care Market?
Beirsdorf AG, Unilever plc, The Procter & Gamble Company, Mary Kay and Colgate-Palmolive are the major companies operating in the Mexico Beauty and Personal Care Market.
What years does this Mexico Beauty and Personal Care Market cover, and what was the market size in 2023?
In 2023, the Mexico Beauty and Personal Care Market size was estimated at USD 10.69 billion. The report covers the Mexico Beauty and Personal Care Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Beauty and Personal Care Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Beauty in Mexico Industry Report
Statistics for the 2024 Mexico Beauty And Personal Care market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Beauty And Personal Care analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
