The personal care and beauty division contains a wide range of products. These include bath and shower products, skin care, colour cosmetics, deodorants, hair care, oral care, male toiletries, and sunscreen. Beauty and personal care products are further divided into two categories: synthetic and natural/organic. Synthetic items, as the name implies, are created using chemicals, whereas natural products include ingredients such as fruits, vegetables, and flowers. Furthermore, organic products are those that are produced or processed using environmentally friendly farming methods, such as the use of recycled materials.
According to SPER Market Research, ‘South America Beauty and Personal Care Market Size- By Product, By Sales Channel, By Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the South America Beauty and Personal Care Market is estimated to reach USD 74.38 billion by 2033 with a CAGR of 5.49%.
Drivers: South America is one of the world’s most rapidly growing and dynamic cosmetics markets. Furthermore, innovation in beauty goods has driven cosmetics sales in the market. One of the key drivers of market growth is customers’ increasing awareness of their appearance. Millennials are increasingly using colour cosmetics including foundation, blush, lipsticks, and eye shadow as part of their daily grooming routine, which is propelling market growth in the region. On the other hand, the growing demand for natural, organic, cruelty-free cosmetics, as well as innovative and eco-friendly packaging designs, is expected to boost the overall market size in the coming years.
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Restraints:
The Potential Side Effects of Cosmetics Could Limit Market Growth
- These products are made using ingredients that harm skin, such as stabilisers, mineral pigments, dyes, and preservatives. Long-term skin damage, allergic responses, inflammation, discolouration, and texture changes are all possible side effects of these substances. Increased use and unregulated production have resulted to a dramatic rise in side effects. The most common chemical found in products is paraben. Because it is a preservative in body washes, deodorants, moisturisers, shampoos, and makeup, it increases the risk of breast cancer. Males who use paraben-containing cosmetics may also have lower testosterone and sperm counts, which could affect the endocrine system’s functionality.
Impact of COVID-19 on South America Beauty Care Market
The COVID-19 pandemic has had a major effect on the market’s growth as well. The epidemic hindered the production and supply of cosmetics and personal hygiene goods. The problem was exacerbated by stay-at-home laws, social distancing, and stringent movement limitations. Due to a shutdown on major markets and the sharp decline in commodities sales across both online and offline channels, retailers saw little demand for new purchases.
South America Beauty and Personal Care Products Market Key Players:
Argentina is an expanding market for cosmetic products. The growing number of working women in Argentina, as well as millennials’ growing awareness of their physical appearance, are the primary drivers of industry expansion. Oriflame Cosmetics Global SA, L’Oreal S.A, Christian Dior SE, Shiseido Company, Limited, and others are among the market’s leading players.
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.
For More Information, refer to below link: –
South America Personal Care Market Outlook
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