Latin America K-beauty Products Market: Growth Prospects 2024-2032

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $1,500	114 Pages	Triton Market Research	June, 2024	TRTN18869347

Best Price Guarantee
Price	from $1,500
Length	114 Pages
Publisher	Triton Market Research
Published Date	June, 2024
SKU	TRTN18869347

Latin America K-beauty Products Market: Growth Prospects 2024-2032

Triton’s research report predicts that the Latin America K-Beauty products market is set to garner revenue at a CAGR of 8.64% during the forecast years 2024-2032.

The cosmetics industry in Latin America is growing, generating approximately $80 billion annually. Countries like Mexico, Brazil, Colombia, and Chile are the top markets in the region, where consumers are highly drawn to K-Beauty products due to natural and organic ingredients, attractive packaging, and innovative skincare routines. As per industry sources, cosmetics and personal care products account for around 56.8% of the total direct retail sales, with skincare and haircare emerging as dominating segments. Due to rising awareness of beauty standards, the demand for K-beauty products is expected to increase in the coming years.

The countries studied in this region include Brazil and Mexico.

Brazil captures the highest share in the K-Beauty products market, obtaining about $118.6 million in 2023.

Brazil accounts for nearly half of the revenue produced by the cosmetics sector in Latin America, wherein Brazilian women spend on average, almost $1000 annually on cosmetics.

Similarly, a survey also stated that more than half of Brazilians prefer to buy natural beauty products due to their effectiveness compared to synthetic products. Strikingly, vegan and cruelty-free products recorded 15% of the country’s revenue within the hygiene and beauty sector.

As per OEC World, with an import of $244 million worth of beauty and hygiene products, consumers are highly influenced by Korean skincare routines, which creates an increasing demand in the K-beauty industry.

K-Beauty Products Market Forecast for Mexico

As per the ITA, Mexico ranks among the top 10 global markets for cosmetics and personal care products and remains the second-largest market for beauty products in its region. Accordingly, the country imported $1.4 billion worth of cosmetics and personal care products in 2022. Korean brands such as Tonymoly, Sulwhasoo, and Mediheal have achieved significant success in tapping the potential of this regional market, targeting the young population. The demand for the best K-beauty products reflects a promising scope for market expansion over the forecasted period.

The K-Beauty products market is segmented based on gender, product type, and distribution channel. The gender segment is further branched into male and female. Recent years have witnessed a rise in genderless cosmetics and inclusivity of men’s beauty, which has created a demand for men’s products. As men are increasingly using cosmetic products, K-beauty brands offer a diverse range of skincare products, including BB creams, serums, facial sheet masks, moisturizers, etc.

The key entities in the reviewed market are COSRX Inc, Banila Co, Cala Products, Able C&C Co Ltd, Peach & Lily, Clio Cosmetics, LG H&H Co Ltd, Amore Pacific Corporation, BNH Cosmetics Co Ltd, and Adwin Korea Corporation.

COSRX is a Korean multinational corporation specializing in the production and distribution of specialty K-Beauty items. Its renowned cosmetic lineup comprises cleansers/makeup removers, patches/spot treatments, moisturizers, toners, exfoliators, and masks/packs. Moreover, it crafts natural skincare products, including the aloe vera oil-free moisture cream and Natural BHA Skin Returning A-sol.

Latest from the Company:

In May 2024, Cosrx expanded its presence by introducing its products in duty-free outlets and Olive Young stores across Korea. Additionally, the brand included a new ‘Locating Cosrx in Korea’ segment on its FAQ page to assist global travelers in finding its products in physical stores.

1. Latin America K-beauty Products Market - Summary
2. Industry Outlook: 2.1. Impact Analysis On The K-beauty Products Market; 2.1.1. Covid-19 Impact On The K-beauty Products Market; 2.2. Porter’s Five Forces Analysis; 2.2.1. Threat Of New Entrants; 2.2.2. Threat Of Substitutes; 2.2.3. Bargaining Power Of Buyers; 2.2.4. Bargaining Power Of Suppliers; 2.2.5. Threat Of Competitive Rivalry; 2.3. Supply Chain Analysis; 2.3.1. Raw Materials Assembly; 2.3.2. Product Manufacturing; 2.3.3. Quality Assurance & Labelling; 2.3.4. Distribution; 2.3.5. End-consumers; 2.4. Key Buying Impact Analysis; 2.4.1. Price; 2.4.2. Ingredients Used; 2.4.3. Labelling & Packaging; 2.4.4. Skin Type; 2.5. Key Market Strategies; 2.5.1. Collaborations; 2.5.2. Product Launches; 2.5.3. Acquisitions; 2.5.4. Business Expansions; 2.6. Market Drivers; 2.6.1. Increasing Interest In Natural And Organic Personal Care Products; 2.6.2. Product Innovation And Extensive Investments In R&D; 2.6.3. Expansion Of The Male Skincare Segment; 2.7. Market Challenges; 2.7.1. Rise Of Counterfeit K-beauty Products; 2.7.2. Competition From Well-established International Brands; 2.8. Market Opportunities; 2.8.1. Influence Of Social Media And Millennials On K-beauty Products; 2.8.2. Peel-on Sun Patches Are Gaining Popularity; 2.8.3. Integration Of Ai, Big Data And Augmented Reality (Ar) In The Beauty Sector; 2.9. Analyst Perspective
3. Latin America K-beauty Products Market – By Gender: 3.1. Male; 3.2. Female
4. Latin America K-beauty Products Market – By Product Type: 4.1. Skincare; 4.1.1. Cleanser; 4.1.2. Toner; 4.1.3. Moisturizer; 4.1.4. Sheet Mask & Spot Patch; 4.1.5. Lip Care; 4.1.6. Eye Care; 4.1.7. Sun Protection; 4.2. Body Care; 4.2.1. Hand Care; 4.2.2. Foot Care; 4.2.3. Hair Care; 4.3. Makeup; 4.3.1. Eye Makeup; 4.3.2. Lip Makeup; 4.3.3. Face Makeup
5. Latin America K-beauty Products Market – By Distribution Channel: 5.1. Specialty/Single-brand Stores; 5.2. Supermarkets/Hypermarkets; 5.3. E-commerce
6. Latin America K-beauty Products Market – By Country Outlook: 6.1. Latin America; 6.1.1. Country Analysis; 6.1.1.1. Brazil; 6.1.1.1.1. Brazil K-beauty Products Market Forecast & Prospects; 6.1.1.2. Mexico; 6.1.1.2.1. Mexico K-beauty Products Market Forecast & Prospects; 6.1.1.3. Rest Of Latin America; 6.1.1.3.1. Rest Of Latin America K-beauty Products Market Forecast & Prospects
7. Competitive Landscape: 7.1. Able C&C Co Ltd; 7.1.1. Overview; 7.1.2. Product Portfolio; 7.1.3. Key Strengths; 7.1.4. Key Challenges; 7.2. Adwin Korea Corporation; 7.2.1. Overview; 7.2.2. Product Portfolio; 7.2.3. Key Strengths; 7.2.4. Key Challenges; 7.3. Amore Pacific Corporation; 7.3.1. Overview; 7.3.2. Product Portfolio; 7.3.3. Key Strengths; 7.3.4. Key Challenges; 7.4. Banila Co; 7.4.1. Overview; 7.4.2. Product Portfolio; 7.4.3. Key Strengths; 7.4.4. Key Challenges; 7.5. Bnh Cosmetics Co Ltd; 7.5.1. Overview; 7.5.2. Product Portfolio; 7.5.3. Key Strengths; 7.5.4. Key Challenges; 7.6. Cala Products; 7.6.1. Overview; 7.6.2. Product Portfolio; 7.6.3. Key Strengths; 7.6.4. Key Challenges; 7.7. Clio Cosmetics; 7.7.1. Overview; 7.7.2. Product Portfolio; 7.7.3. Key Strengths; 7.7.4. Key Challenges; 7.8. Cosrx Inc; 7.8.1. Overview; 7.8.2. Product Portfolio; 7.8.3. Key Strengths; 7.8.4. Key Challenges; 7.9. Lg H&H Co Ltd; 7.9.1. Overview; 7.9.2. Product Portfolio; 7.9.3. Key Strengths; 7.9.4. Key Challenges; 7.10. Peach & Lily; 7.10.1. Overview; 7.10.2. Product Portfolio; 7.10.3. Key Strengths; 7.10.4. Key Challenges
8. Research Methodology & Scope: 8.1. Research Scope & Deliverables; 8.2. Sources Of Data; 8.3. Research Methodology
Tables List: Table 1: Latin America K-beauty Products Market, By Country Outlook, 2024-2032 (In $ Million); Table 2: List Of Collaborations; Table 3: List Of Product Launches; Table 4: List Of Acquisitions; Table 5: List Of Business Expansions; Table 6: Latin America K-beauty Products Market, By Gender, 2024-2032 (In $ Million); Table 7: Latin America K-beauty Products Market, By Product Type, 2024-2032 (In $ Million); Table 8: Latin America K-beauty Products Market, By Distribution Channel, 2024-2032 (In $ Million); Table 9: Latin America K-beauty Products Market, By Country Outlook, 2024-2032 (In $ Million)
Figures List: Figure 1: Supply Chain Analysis; Figure 2: Key Buying Impact Analysis; Figure 3: Latin America K-beauty Products Market, By Gender, 2023 & 2032 (In %); Figure 4: Latin America K-beauty Products Market, By Male, 2024-2032 (In $ Million); Figure 5: Latin America K-beauty Products Market, By Female, 2024-2032 (In $ Million); Figure 6: Latin America K-beauty Products Market, By Product Type, 2023 & 2032 (In %); Figure 7: Latin America K-beauty Products Market, By Skincare, 2024-2032 (In $ Million); Figure 8: Latin America K-beauty Products Market, By Skincare, 2023 & 2032 (In %); Figure 9: Latin America K-beauty Products Market, By Cleanser, 2024-2032 (In $ Million); Figure 10: Latin America K-beauty Products Market, By Toner, 2024-2032 (In $ Million); Figure 11: Latin America K-beauty Products Market, By Moisturizer, 2024-2032 (In $ Million); Figure 12: Latin America K-beauty Products Market, By Sheet Mask & Spot Patch, 2024-2032 (In $ Million); Figure 13: Latin America K-beauty Products Market, By Lip Care, 2024-2032 (In $ Million); Figure 14: Latin America K-beauty Products Market, By Eye Care, 2024-2032 (In $ Million); Figure 15: Latin America K-beauty Products Market, By Sun Protection, 2024-2032 (In $ Million); Figure 16: Latin America K-beauty Products Market, By Body Care, 2024-2032 (In $ Million); Figure 17: Latin America K-beauty Products Market, By Body Care, 2023 & 2032 (In %); Figure 18: Latin America K-beauty Products Market, By Hand Care, 2024-2032 (In $ Million); Figure 19: Latin America K-beauty Products Market, By Foot Care, 2024-2032 (In $ Million); Figure 20: Latin America K-beauty Products Market, By Hair Care, 2024-2032 (In $ Million); Figure 21: Latin America K-beauty Products Market, By Makeup, 2024-2032 (In $ Million); Figure 22: Latin America K-beauty Products Market, By Makeup, 2023 & 2032 (In %); Figure 23: Latin America K-beauty Products Market, By Eye Makeup, 2024-2032 (In $ Million); Figure 24: Latin America K-beauty Products Market, By Lip Makeup 2024-2032 (In $ Million); Figure 25: Latin America K-beauty Products Market, By Face Makeup, 2024-2032 (In $ Million); Figure 26: Latin America K-beauty Products Market, By Distribution Channel, 2023 & 2032 (In %); Figure 27: Latin America K-beauty Products Market, By Specialty/Single-brand Stores, 2024-2032 (In $ Million); Figure 28: Latin America K-beauty Products Market, By Supermarkets/Hypermarkets, 2024-2032 (In $ Million); Figure 29: Latin America K-beauty Products Market, By E-commerce, 2024-2032 (In $ Million); Figure 30: Latin America K-beauty Products Market, By Country Outlook, 2023 & 2032 (In %); Figure 31: Brazil K-beauty Products Market 2024-2032 (In $ Million); Figure 32: Mexico K-beauty Products Market 2024-2032 (In $ Million); Figure 33: Rest Of Latin America K-beauty Products Market 2024-2032 (In $ Million)