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Mexico Makeup Market Size, Share, Growth, Analysis, Forecast: 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; Regional Analysis; Competitive Landscape; 2024-2032
Mexico Makeup Market Outlook
The Mexico makeup market size reached USD 1.60 billion in 2023. The market is projected to grow at a CAGR of 6.1% between 2024 and 2032, reaching almost USD 2.73 billion by 2032.
Key Takeaways
- Face powders are expected to become increasingly popular in the Mexico makeup market.
- Increasing investments in formulating skin-friendly makeup are expected to accelerate the market growth.
- Baja California is expected to dominate the demand for makeup over the forecast period.
Online retail stores are expected to constitute a major portion of the Mexico makeup market share in the forecast period. This is because they provide consumers with a wide variety of makeup products and brands with verified customer reviews and product information. Moreover, they provide discount options to frequent buyers and provide flexible terms for product/exchange or return.
Online channels also offer guaranteed refunds if the product is of poor quality and save consumers from the hassle of shopping for makeup in physical stores. Hence, increasing internet accessibility and smartphone penetration rates are expected to accelerate the Mexico makeup market expansion over the forecast period.
Face makeup is becoming increasingly popular in Mexico due to its ability to highlight natural facial features and enhance their beauty. By improving the skin complexion and imparting an even skin tone, face makeup helps individuals enhance their appearance for important occasions such as parties and other social events. This is expected to drive the Mexico makeup market growth.
Moreover, the increasing demand for eye and nail makeup is being driven by rising fashion consciousness among women and the incorporation of natural ingredients in cosmetic products, which reduces the risk of allergies and harmful reactions to the skin. As the market expands, increasing research and development into the makeup composition is expected to attract more consumers and propel the market growth.
Market Segmentation
Mexico 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
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
The key Mexico makeup 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, Revlon, Inc., and elf Beauty 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 Product |
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| Breakup by Application Area |
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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 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)
8.4 Latin America Makeup Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Makeup Market Overview
9.1 Key Industry Highlights
9.2 Mexico Makeup Historical Market (2018-2023)
9.3 Mexico Makeup Market Forecast (2024-2032)
10 Mexico 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 Mexico 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 Mexico 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 Mexico Makeup Market by Region
13.1 Baja California
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Northern Mexico
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 The Bajío
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Central Mexico
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Pacific Coast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Yucatan Peninsula
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyers Powers
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 3304)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 L’Oréal S.A.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Shiseido Co. Ltd.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Estee Lauder Companies Inc.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Procter & Gamble Company
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Unilever Plc
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Natura &Co.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Mary Kay Inc.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Oriflame Cosmetics SA
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Revlon, Inc.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 elf Beauty Inc.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 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. Mexico Makeup Market: Key Industry Highlights, 2018 and 2032
3. Mexico Makeup Historical Market: Breakup by Product (USD Billion), 2018-2023
4. Mexico Makeup Market Forecast: Breakup by Product (USD Billion), 2024-2032
5. Mexico Makeup Historical Market: Breakup by Application Area (USD Billion), 2018-2023
6. Mexico Makeup Market Forecast: Breakup by Application Area (USD Billion), 2024-2032
7. Mexico Makeup Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Mexico Makeup Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Mexico Makeup Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Mexico Makeup Market Forecast: Breakup by Region (USD Billion), 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. Mexico Makeup Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 1.60 billion in 2023.
The market is projected to grow at a CAGR of 6.1% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 2.73 billion in 2032.
The different distribution channels in the market include hypermarkets/supermarkets, convenience stores, speciality stores, and online retail stores, among others.
The different application areas of makeup include lips, eyes, face, and nails.
The different makeup products considered in the market report are powders, gels, and lotions, among others.
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, Revlon, Inc., and elf Beauty Inc., among others.
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