Brazil Beauty and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Brazil Beauty and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Brazil Beauty and Personal Care Products Market is projected to grow at a CAGR of 6.57% during the forecast period.

Key Highlights

• Customers are increasingly looking for value for money products that are natural and beneficial for the skin, provide a range of combined benefits of high priced premium products like anti-aging, whitening, and moisturizing, etc. at a lower than premium cost. This product class has been dubbed “masstige”. Mid income customers in Brazil are trading down from premium to masstige, and from masstige to mass market depending on purchasing power and the multi-benefits offered in products.
• Innovation continued to drive sales of beauty and personal care products from the last few years. Key players are focusing on product innovation as several important brands announced updates of their main brands, focusing on new formulas and especially on the new packaging.

Key Market TrendsGrowing Expenditure on Advertisement and Research & Development by Key Players

Research & development and advertisement are playing key role to drive the overall beauty and personal care products market in Brazil. Key players are investing on R&D and advertisement to influence the consumer purchasing decision. Growing internet users in Brazil has changed the advertisement spending strategy of key players. For instance, key players like L’Oreal is shifting its strategy to focus on creating an emotional content for digital advertisement for its consumers instead of highlighting its products on conventional advertisement platforms such as magazine, news papers etc.

Improvement in Distribution Network in Brazil to Drive Market Growth

Distribution is pervasive through exclusive stores of luxury products in malls or standalone, while ecommerce is emerging as a competitor to direct sales for all mass and premium brands. According to the Brazilian retail and consumer society SBVC, (Sociedade Brasileira de Varejo e Consumo), retail and consumer is a USD 600 billion market that accounts for around 20% of the country’s gross domestic product. Moreover, as per the Brazil shopping centre association, ABRASCE (Associação Brasileira de Shopping Centers), the GDP contribution from supermarkets alone reached close to USD 70 billion (BRL 258.7 billion) in 2014. Hence, the improvement in distribution network is playing key role to drive the sales of beauty and personal care products in the country.

Competitive Landscape

International key players in beauty and personal care market are focusing on acquisition and expansion in the country which helping them to divesify thier offerings and gives these players access to stable cash flows and further growth opportunities in Brazil. The beauty products market witnesses high competition, with the dominance of major international players. Various players are entering the market, to tap the untapped potential of the beauty and personal care products market. An advanced and diversified distribution network gives an upper edge to the manufacturers to expand their range of products, across the Brazil.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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