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Mexico Cosmetics Market Size, Share, Growth, Trends, Report: By Category: Hair Care, Skin and Sun Care, Makeup and Colour Cosmetics, Fragrances and Deodorants, Others; By Gender: Men, Women, Unisex; By Price Range: Mass, Premium; By Distribution Channel; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Mexico Cosmetics Market Outlook
The Mexico cosmetics market size reached nearly USD 11.10 billion in 2023. The market is projected to grow at a CAGR of 5.5% between 2024 and 2032, reaching almost USD 18.00 billion by 2032.
Key Takeaways:
- Mexico ranks among the top 10 countries in the world in terms of cosmetics production.
- An average Mexican spends $90 annually on purchasing cosmetics and personal care products.
- Nearly 96% of the Mexican population uses some beauty and personal care products.
High beauty consciousness and purchasing power parity have driven many international brands to expand in Mexico. For instance, South Korean cosmetics giant Amorepacific debuted the Laneige brand of products in Mexico in 2023. This is expected to lead to an increase in the sale of cosmetics, driving the Mexico cosmetics market growth.
Increasing investments in cosmetic production in the country, in line with its thriving manufacturing sector, are further aiding the Mexico cosmetics market expansion. Unilever plc decided to invest $400 million in Nuevo Leon in February 2023 to create a new facility for manufacturing personal care and beauty products.
Leading cosmetic companies in the region are increasingly investing in research activities to drive innovation in the market and launch value-added cosmetic products. The growing awareness regarding pollutants and rapid climate change is prompting customers to shift towards beauty products infused with pollutant-fighting agents like algae, Vitamin C, and prebiotics, among others.
The shift towards sustainability is prompting Mexican consumers to seek products with naturally formulated ingredients, further propelling the Mexico cosmetics market development. Besides, customers prefer products that are sourced ethically and made from natural and indigenous ingredients.
Artificial intelligence and virtual reality are driving the shift towards the personalisation of cosmetic products. Major Mexico cosmetics market players are using digital diagnostic tools to convert their stores into experiential spaces to enable a consumer to make a more informed purchase decision. Moreover, the rise of tech-enabled packaging is attracting more consumers as it helps them in tracking the evolution of their skin and pre-select the products they require.
Market Segmentation
Mexico Cosmetics Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Category
- Hair Care
- Skin and Sun Care
- Makeup and Colour Cosmetics
- Fragrances and Deodorants
- Others
Market Breakup by Gender
- Men
- Women
- Unisex
Market Breakup by Price Range
- Mass
- Premium
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Pharmacy and Drug Stores
- Speciality Stores
- Online
- Others
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
The key Mexico cosmetics market players are L’Oréal S.A., Shiseido Co. Ltd., Estee Lauder Companies Inc., Procter & Gamble Company, Unilever Plc, Natura &Co., Mary Kay Inc., Oriflame Cosmetics SA, Beiersdorf AG, and Johnson & Johnson Services, Inc., among 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:
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| Breakup by Category |
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| Breakup by Gender |
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| Breakup by Price Range |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Cosmetics Market Overview
8.1 Key Industry Highlights
8.2 Latin America Cosmetics Historical Market (2018-2023)
8.3 Latin America Cosmetics Market Forecast (2024-2032)
8.4 Latin America Cosmetics Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Cosmetics Market Overview
9.1 Key Industry Highlights
9.2 Mexico Cosmetics Historical Market (2018-2023)
9.3 Mexico Cosmetics Market Forecast (2024-2032)
10 Mexico Cosmetics Market by Category
10.1 Hair Care
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Skin and Sun Care
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Makeup and Colour Cosmetics
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Fragrances and Deodorants
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Mexico Cosmetics Market by Gender
11.1 Men
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Women
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Unisex
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Mexico Cosmetics Market by Price Range
12.1 Mass
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Premium
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Mexico Cosmetics Market by Distribution Channel
13.1 Supermarkets and Hypermarkets
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Convenience Stores
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Pharmacy and Drug Stores
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Speciality Stores
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Online
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Mexico Cosmetics Market by Region
14.1 Baja California
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Northern Mexico
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 The Bajío
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Central Mexico
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Pacific Coast
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Yucatan Peninsula
14.6.1 Historical Trend (2018-2023)
14.6.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyers Powers
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Value Chain Analysis
17 Trade Data Analysis (HS Code – 3304)
17.1 Major Importing Countries
17.1.1 By Volume
17.1.2 By Value
17.2 Major Exporting Countries
17.2.1 By Volume
17.2.2 By Value
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 L’Oréal S.A.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Shiseido Co. Ltd.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Estee Lauder Companies Inc.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Procter & Gamble Company
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Unilever Plc
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Natura &Co.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Mary Kay Inc.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Oriflame Cosmetics SA
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Beiersdorf AG
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Johnson & Johnson Services, Inc.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Cosmetics Market: Key Industry Highlights, 2018 and 2032
2. Mexico Cosmetics Market: Key Industry Highlights, 2018 and 2032
3. Mexico Cosmetics Historical Market: Breakup by Category (USD Billion), 2018-2023
4. Mexico Cosmetics Market Forecast: Breakup by Category (USD Billion), 2024-2032
5. Mexico Cosmetics Historical Market: Breakup by Gender (USD Billion), 2018-2023
6. Mexico Cosmetics Market Forecast: Breakup by Gender (USD Billion), 2024-2032
7. Mexico Cosmetics Historical Market: Breakup by Price Range (USD Billion), 2018-2023
8. Mexico Cosmetics Market Forecast: Breakup by Price Range (USD Billion), 2024-2032
9. Mexico Cosmetics Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
10. Mexico Cosmetics Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
11. Mexico Cosmetics Historical Market: Breakup by Region (USD Billion), 2018-2023
12. Mexico Cosmetics Market Forecast: Breakup by Region (USD Billion), 2024-2032
13. Major Importing Countries by Volume
14. Major Exporting Countries by Volume
15. Major Importing Countries by Value
16. Major Exporting Countries by Value
17. Mexico Cosmetics Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 11.10 billion in 2023.
The market is projected to grow at a CAGR of 5.5% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 18.00 billion in 2032.
The different price ranges of cosmetics include mass and premium.
The different distribution channels in the market include supermarkets and hypermarkets, convenience stores, pharmacy and drug stores, speciality stores,and online, among others.
The different segments considered in the market report are men, women, and unisex.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are L’Oréal S.A., Shiseido Co. Ltd., Estee Lauder Companies Inc., Procter & Gamble Company, Unilever Plc, Natura &Co., Mary Kay Inc., Oriflame Cosmetics SA, Beiersdorf AG, and Johnson & Johnson Services, Inc., among others.
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