The beauty industry in Latin America is experiencing significant growth, in 2022 the market had a growth of 3.7% (according to Euromonitor), i.e. from 9.1 million dollars it grew to 9.4 million dollars compared to the previous year.
Beauty is in imperfection, inclusion and authenticity, trends which they encouraged growth of this marketas it enhances the true connection with consumers, which is very diverse.
An increase in product preference is estimated premiumdermocosmetics with natural ingredients, in addition, are the categories of greatest interest and value in the region for skin care, hair care, cosmetic colors, fragrances and oral care.
Germán Romero, business director and beauty expert in the second, shared in the webinar “Decoding beauty industry in LATAM” trends embrace imperfection, inclusivity and authenticity, according to WGSN research.
– Agnostic: The consumer is looking products who accompany you in the aging process, the priority is “aging well” instead of looking younger, so they opt for options that celebrate the passage of time and offer solutions that adapt to the changing needs of the skin.
– Gender-inclusive wellness: redefines sexual well-being, with fewer taboos, promoting diversity and inclusion in pleasure-related products.
– Skin care first aid: Each skin type has its own needs and can even change according to factors such as emotions, hormones and lifestyle, which is why consumers prefer products that adapt to them.’
Despite the pandemic, the skin care category maintained good results in 2020 and 2021, according to Euromonitor data.
– Doctor in a bottle: Professionals from industry They participate more actively in the promotion of skin care, which is very attractive to consumers because they prefer brands founded by professionals in this market.
– Don’t touch me (again): Consumers accept authenticity and individuality by rejecting the standards of beauty promoted by social media filters.
– Alpha education: The Alpha generation, which enters the youth, they demand cleaner, safer and more sustainable products.
– Restoration of beauty rituals: traditional procedures are promoted, recognizing their origins and contributing to the empowerment and culture of the community.
Source: Panama America
I am Dawid Malan, a news reporter for 24 Instant News. I specialize in celebrity and entertainment news, writing stories that capture the attention of readers from all walks of life. My work has been featured in some of the world’s leading publications and I am passionate about delivering quality content to my readers.
