Beauty and personal care goods are crucial items that people use to improve their physical appearance, hygiene, and self-esteem. These products include cosmetics, skincare, hair care, perfumes, and personal grooming tools. Beauty and Personal Care includes both mass-market products that are readily available and reasonably priced, as well as premium and luxury products that address special requirements and preferences.
South America Beauty and Personal Care Market Driving Factors and Challenges
Driving Factors- South America is one of the world's most rapidly expanding and dynamic cosmetics marketplaces. Furthermore, innovation in beauty products has continued to propel cosmetics sales in the market. One of the primary drivers of market growth is customers' growing awareness of their look. Millennials are increasingly utilising colour cosmetics such as foundation, blush, lipsticks, and eye shadow as part of their daily grooming regimen, which is driving market expansion throughout the area. On the other hand, the growing desire for natural, organic, cruelty-free cosmetic items, as well as innovative and eco-friendly package designs, is likely to increase the overall market size in the future years. In response to shifting customer behaviour, manufacturers are cooperating with other businesses to broaden their range in the natural cosmetic area.
Challenges- Certain cosmetic and personal hygiene products have adverse consequences that could potentially impede the expansion of the industry. As an example, the Campaign for Safe Cosmetics (2015) reported that cancer-causing anti-aging products contained the dangerous compound Perfluorooctanoic acid (PFOA). Aside from having negative effects, some anti-aging lotions might cause skin irritation, rashes, burning, redness, accelerated ageing, and other issues. For the purpose of preserving the cream's pH level, several anti-aging creams include cancer-causing substances like DEA, TEA, and MEA. These substances have been linked to kidney and liver cancer.
Impact of COVID-19 on South America Beauty and Personal Care Market
- Customer Behaviour Shift: During the epidemic, people's priorities changed to include self-care, hygiene, and health conditions. The market for antibacterial soaps, hand sanitisers, and skincare products with immune-stimulating components was growing.
- Greater Attention Paid to cleanliness: As a result of the pandemic, demand for hand sanitisers, hand washes, and disinfectant products surged. This led to an increased emphasis on cleanliness. The hygienic precautions linked to cosmetics and personal care items have drawn increased consumer attention.
South America Beauty and Personal Care Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Oriflame Cosmetics Global SA, L'Oreal S.A, Christian Dior SE, Shiseido Company, Limited, The Estee Lauder Companies Inc, Natura Brasil, Surya Brasil, Best Bronze, O Boticário, Mary Kay Inc.
South America Beauty and Personal Care Market Segmentation:
By Product: Based on the Product, South America Beauty and Personal Care Market is segmented as; Fragrances, Color Cosmetics, Skincare, Hair Care, and Others.
By Sales Channel: Based on the Sales Channel, South America Beauty and Personal Care Market is segmented as; Offline Stores and Online Channels.
By Type: Based on the Type, South America Beauty and Personal Care Market is segmented as; Organic and Chemically Formulated.
By Region: This research also includes data for Brazil, Chile, Rest of South America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.