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Colombia Makeup Market Size, Share, Growth, Analysis, Report: By Product: Powders, Gels, Lotions, Others; By Application Area: Lips, Eyes, Face, Nails; By Distribution Channel: Hypermarkets/Supermarkets, Convenience Stores, Speciality Stores, Online Retail Stores, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Colombia Makeup Market Outlook
The Colombia makeup market size was valued at USD 405.46 million in 2023. The market is further projected to grow at a CAGR of 4.9% between 2024 and 2032, reaching a value of USD 626.08 million by 2032.
Key Takeaways
- In 2023, Colombia ranked fourth in sales of makeup and cosmetics products in Latin America, according to data from the National Business Association of Colombia (ANDI).
- The market growth is driven by rising consumer interest in colour cosmetics products, improving quality of life, positive effects of beauty and personal care on self-esteem and social interaction, and the consumer shift towards premium and luxury cosmetic brands.
- As per industry reports, key players in the market are L'Oréal S.A., Estee Lauder Companies Inc., Unilever Plc, and Oriflame Cosmetics SA.
The market is expected to grow significantly, driven by an increasing disposable income, changing lifestyle preferences, and popularity of colour cosmetics among young consumers. The untapped potential in the men’s grooming segment also present significant opportunities for companies to expand and diversify their offerings.
Moreover, the rising demand for clean beauty products, free from harmful chemicals and parabens, is a significant trend shaping the market landscape. Secondly, the digital transformation in the cosmetics industry, facilitated by the rapid expansion of e-commerce platforms, has made makeup products more accessible to consumers, contributing to Colombia makeup market growth. Additionally, the evolving beauty standards influenced by social media and the emergence of green and sustainable beauty products are further fuelling the expansion of the market.
Powder makeup products, including face powders, eyeshadows, and blushes dominates the Colombia makeup market share and they are used to enhance and define facial features. Brands like L'Oréal Paris, Maybelline New York, and MAC Cosmetics offer a wide range of face powders in Colombia, catering to different skin tones. Natura & Co provides a range of blush options that complement various skin tones and offer a natural flush of colour.
Lotion makeup products, such as tinted moisturisers and BB creams, are another popular segment in the market. These products provide hydration and coverage, making them a convenient option for busy consumers. Colombian consumers can find tinted moisturisers from brands like NARS and Laura Mercier, offering lightweight coverage and skincare benefits in one product. Korean beauty brands like Missha and Skin79 have gained popularity in Colombia for their BB creams, which provide coverage, hydration, and sun protection in one step.
Market Segmentation
Colombia Makeup Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Product
- Powders
- Gels
- Lotions
- Others
Market Breakup by Application Area
- Lips
- Eyes
- Face
- Nails
Market Breakup by Distribution Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Speciality Stores
- Online Retail Stores
- Others
Competitive Landscape
Market players have been acquiring different small-scale cosmetic brands to have maximum customer reach and build market presence.
- L’Oréal S.A.
- Shiseido Co. Ltd.
- Estee Lauder Companies Inc.
- Procter & Gamble Company
- Unilever Plc
- Natura &Co.
- Mary Kay Inc.
- Oriflame Cosmetics SA
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Application Area |
|
| Breakup by Distribution Channel |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Makeup Market Overview
8.1 Key Industry Highlights
8.2 Latin America Makeup Historical Market (2018-2023)
8.3 Latin America Makeup Market Forecast (2024-2032)
9 Colombia Makeup Market Overview
9.1 Key Industry Highlights
9.2 Colombia Makeup Historical Market (2018-2023)
9.3 Colombia Makeup Market Forecast (2024-2032)
10 Colombia Makeup Market by Product
10.1 Powders
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Gels
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Lotions
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Colombia Makeup Market by Application Area
11.1 Lips
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Eyes
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Face
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Nails
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Colombia Makeup Market by Distribution Channel
12.1 Hypermarkets/Supermarkets
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Speciality Stores
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Online Retail Stores
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Trade Data Analysis (HS Code – 3304)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 L’Oréal S.A.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Shiseido Co. Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Estee Lauder Companies Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Procter & Gamble Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Unilever Plc
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Natura &Co.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Mary Kay Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Oriflame Cosmetics SA
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Makeup Market: Key Industry Highlights, 2018 and 2032
2. Colombia Makeup Market: Key Industry Highlights, 2018 and 2032
3. Colombia Makeup Historical Market: Breakup by Product (USD Million), 2018-2023
4. Colombia Makeup Market Forecast: Breakup by Product (USD Million), 2024-2032
5. Colombia Makeup Historical Market: Breakup by Application Area (USD Million), 2018-2023
6. Colombia Makeup Market Forecast: Breakup by Application Area (USD Million), 2024-2032
7. Colombia Makeup Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
8. Colombia Makeup Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
9. Colombia Makeup Historical Market: Breakup by Region (USD Million), 2018-2023
10. Colombia Makeup Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. Colombia Makeup Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 405.46 million.
The market is expected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 626.08 million by 2032.
The market is being driven due to the availability of wide range of makeup products rising demand for makeup for enhancing appearance, and significant growth of online retail stores.
Key trends aiding the market expansion include influence of social media, the rising adoption of colour cosmetics made of vegan ingredients, and a growing number of men consumers using cosmetics.
Makeup is applied on lips, eyes, face, and nails.
Based on product, the market segmentations include powders, gels, and lotions, among others.
Key players in the market are L'Oréal S.A., Shiseido Co. Ltd., Estee Lauder Companies Inc., Procter & Gamble Company, Unilever Plc, Natura &Co., Mary Kay Inc., and Oriflame Cosmetics SA, among others.
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