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Markets & trends

Brazil: The cosmetics market boosted by hair care

Although indicators are slowing down, Brazil has confirmed its progress on the world beauty market. Already the world’s largest perfume market, it is now ranked second in hair care product sales, and is thus redefining the global context alongside China. At the In-Cosmetics trade show in Hamburg early this April, Euromonitor and Mintel reviewed the next levers of development in a country that is now playing a leading role on the international stage.

According to Euromonitor, despite the context of an economic slowdown, Brazil is now the third largest market on the global scale, all segments included, behind the United States and China.

© Euromonitor

© Euromonitor

The hair care market as a growth driver

As the world’s largest market in the perfume and deodorant categories, Brazil’s growth is also boosted by hair care and the extremely dynamic conditioner segment in particular. According to Mintel, it represented 9 % of all hair care launches last year in the world, ahead of the United Kingdom (8 %) and the United States (7 %).

According to the same source, this market is expected to achieve a two-digit annual growth over the next four years to reach US$12.45 billion in 2017. In 2013, shampoos and conditioners represented a market estimated at US$2.92 billion. The usage rate of shampoos in Brazil is amongst the highest in the world, as 91 % of Brazilians declare themselves as users: that is as much as in France (91 %), and more than in England (89 %).

© Euromonitor

© Euromonitor

Christopher Lindlsey, the Global Skin Care analyst at Mintel, explains this partly results from a number of new product developments that was hardly ever seen anywhere else in the world, with an offer that is perfectly adapted to local diversities and specific regional claims. “Developing anti-aging claims could add value to the market in the future”, he adds.

Premium is gaining ground

According to Euromonitor, Brazil is still dominated by the mass-market, though it is gradually turning towards the premium segment, particularly with the rise of perfume and skincare product sales.

Lastly, direct sales are starting to lose ground to brands sold in stores, as can be seen with L’Occitane’s success, one of the fastest growths among international brands in Brazil.

© Euromonitor

© Euromonitor

Sources: Euromonitor / Mintel

© 2014 - Premium Beauty News - www.premiumbeautynews.com
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