Brazil Cosmetics Market is Forecast to Grow at a CAGR of 5% during Forecast Period 2022-2028

Published | 12 April 2022

The Brazil cosmetics market is growing at a high CAGR because of the changing beauty standards due to globalization and increasing working population along with increasing launches of a wide range of products that cater to the needs of different skin types, age groups, and gender demographic…

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Brazil cosmetics market is estimated to grow at a CAGR of 5.0% during the forecast period of 2022-2028. The growth of the Brazil cosmetics market is attributed to the changing beauty standards due to globalization and the increasing working population which is directly influencing the purchasing power of the consumers. Furthermore, increasing launches of a wide range of products that cater to the needs of different skin types, age groups, and gender demographics is also emerging as one of the major driving factors for the Brazil cosmetics market.

Influence of Social Media and Globalization is Presenting Growth Opportunities to the Market

The rising popularity of social media platforms in Brazil is emerging as an effective tool for cosmetic brands to expand their market in this region. Consumers, especially the younger demographic are exploring the global beauty trends through social media, they are demanding cosmetic products that are able to provide them with the desired look. Social media is also proving to be an effective medium for advertising and marketing to create brand awareness and boost sales. These factors are significantly contributing to the growth of the Brazil cosmetic market.

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Rising Demand from Mass-Market is Driving the Brazil Cosmetics Market Growth

The Brazil cosmetics market is segmented into premium customers, mass-market, and professional, based on the end-user. The mass-market segment accounts for the largest market share in 2021 owing to the increasing disposable income of the consumers and the rising working population in Brazil. The working population in Brazil has been surging over the decade and reached 81.67 million in August 2020, according to the data by Trading Economics. The need to maintain a professional and presentable attire at the workplace acts as a major driving factor for the demand for cosmetics in the market.

Brazil Cosmetics Market - By Distribution Channel

Based on distribution channels, the Brazilian cosmetics market is segmented into online channels and offline channels (supermarkets, departmental stores, drugstores, brand outlets, and others). The offline channel accounts for the largest market share in 2021. The convenience stores and specialty stores for cosmetics offer a wide range of products. Consumers have higher trust in specialty stores and brand showrooms for offering genuine products. Furthermore, offline stores allow their customers to check products on their skin and buy them based on their needs. However, the online channel segment is witnessing the highest growth due to the COVID-19 pandemic.

Impact of COVID-19 on Brazil Cosmetics Market

The Brazil cosmetics market was negatively impacted by the unprecedented COVID-19 pandemic outbreak. As the Brazilian government was refusing to impose a lockdown, the risk of community transmission was increasing, due to which people voluntarily started quarantining themselves. As the workplaces and other public places were closed, the demand for cosmetics registered a gradual decline during this period. Furthermore, people’s inclination towards natural ingredients and products also rose during the quarantine period, which also hindered the growth of the cosmetics market in the country.

Competitive Landscape

The leading market players of the Brazil cosmetics market are Coach, LVMH, Puig, Shiseido, The Estée Lauder Companies Inc., Ralph Lauren Corporation, L’Oréal, Coty, Revlon, Avon Products Inc., and other prominent players.

The Brazil cosmetics market is highly competitive and mainly dominated by global cosmetic brands. The companies constantly launch new products to cater to the needs of a wide range of customers and their skin requirements. They are significantly focusing on improving their distribution channels by establishing specialty stores as well as resorting to online sales channels. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Don’t miss the business opportunity of the Brazil cosmetics market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Brazil cosmetics market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the Brazil cosmetics market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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