Mexico Beauty And Personal Care Market Size

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.