Rising disposable income and increasing awareness about personal appearance are driving growth of the Brazilian cosmetic and personal care market that will surge at a CAGR* of around 13% during 2011-2014, said market research firm RNCOS in new report “Cosmetic and Personal Care Market in Brazil”.
“Due to changing lifestyle and rising consumer awareness, people have become more beauty conscious. Moreover, with the increasing disposable income and product availability, the cosmetic and personal care sales in Brazil is expected to surge,” said RNCOS.
The rise in variety of products offered by the industry players is also playing a key role in boosting the cosmetics and personal care market in Brazil. The companies have started opting for online retailing and are offering specialized products to generate revenue from all the corners. Further, growing usage of Cosmeceuticals and Nutricosmetics by the Brazilian consumers will also pave way for the Brazil cosmetics and personal care market during the forecast period.
The report also provides information about consumer behavior, particularly men, with regard to cosmetic and personal care products. Although most of this growth is accredited to female consumers, the mind-set of male consumers is also changing due to the increasing influence of media. The fast emerging men’s grooming products market is contributing to boost the cosmetic sector, according to RNCOS.