South America Skincare Market Size, Share & Industry Analysis, By Product (Creams, Lotions, Powders, Sprays, and Others), Packaging Type (Tube, Bottle, Jar, and Others), Gender (Men and Women), Distribution Channel (Cosmetic Stores, Supermarkets/ Hypermarkets, Online Channels, and Others), and Country Level Forecasts, 2023 - 2030

South America is the fourth largest region in the global skincare market. The South America skincare market size is projected to grow at a market growth of 5.80% during the forecast period. The global market share for skin care products is projected to grow from USD 104.24 billion in 2022 to USD 167.22 billion by 2030.

Skin treatment products are highly beneficial in treating skin rashes, scars, and other skin problems. Growing awareness of the health benefits of personal care products is mainly driving South America skincare market growth. In addition, increasing Brazilian and Chilean women's populace demand for sun-protection & anti-ageing creams and lotions is accelerating regional product revenues. According to the Brazilian Association of the Personal Hygiene, Perfumery, and Cosmetics Industry (ABIHPEC), retail sales of skin care products in Brazil were grown by 21.9% in 2021.

Our report on the South America Skincare market covers the following countries/regions – Brazil, Argentina, and the Rest of Latin America.

LATEST TRENDS

Rising Demand for Skincare Products Made of Vegan Ingredients to Favor Market Growth

Evolving ethical shopping trends and the rising adoption of skin care products made of vegan and natural ingredients create newer market growth opportunities. In addition, the growing popularity of vitamin probiotics-enriched beauty products among South Americans to get added self-care benefits favor the region’s market growth. Products with signs of ‘Organic’, ‘Natural’, and ‘Vegan’ are gaining more attention due to their sustainable characteristics. That includes non-toxic, safer products with no added synthetic chemicals and no animal-derived ingredients. Likewise, probiotics and prebiotic ingredients help the skin regain its glow; therefore, players incorporate probiotic ingredients into the formulations. Besides, evolving men’s grooming trends will likely upsurge the North America skincare market growth.

• For instance, Natura & Co., a Brazilian sustainable cosmetics manufacturer, reported an 8.8% increase in net sales and reached USD 7,205.79 million in 2021.

DRIVING FACTORS

Growing Popularity of Functional Beauty Products to Drive Market Growth

Among the various functional skin healthcare products popular among consumers, moisturizers that contain anti-ageing ingredients are growing in popularity in the region. Thus, companies such as The Ordinary, Simple Organic, Garnier, and Avon are launching different and unique product formulations for consumers.

• For instance, in 2021, Neutrogena launched Face Care Intensive, an anti-ageing moisturizer in Brazil.

Brazil, Argentina, and Chile, the demand for skin nourishment products suitable for men and women are increasing rapidly. Products imported from countries such as the U.S. and Europe have increased significantly. Rapid development and urbanization in the region increased the purchasing capacity of consumers. Brazil is one of the largest cosmetics markets globally, and the country’s culture influences several companies to launch products in Brazil. Consumers are strongly eco-conscious, and many consider cosmetic products' ecological impact before purchasing. The rising number of speciality stores and retail outlets supports the region's product consumption rate.

• Natura & Co., a well-known Brazilian beauty company, develops skin nourishment products with sustainably sourced ingredients.

RESTRAINING FACTORS

Economic Inflation to Weaken Latin American Skincare Industry Growth

Latin American beauty and personal care market include price-sensitive consumers. Brazilians and Argentinians prefer purchasing a bulk quantity of consumer products at discounted rates. Increasing inflation rates in the Argentine and Brazilian economies are expected to lower the consumption rate of skin care products among middle-income population groups in these countries.  

KEY INDUSTRY PLAYERS

Regarding the competitive landscape, L’Oréal S.A., Natura & Co., Shiseido Co. Ltd., and Oriflame Cosmetics Global SA. are the leading players operating in the South American skincare market share? Key players offer innovative self-caring products to expand their regional reach. For instance, in April 2019, Shiseido Co. Ltd. launched a collection of four new beauty products at São Paulo’s Guarulhos International Airport, Brazil. One of the most common strategies adopted by companies in the region is acquiring beauty-related companies to expand their market presence. Natural cosmetics are becoming increasingly popular among consumers; hence, manufacturers are adopting various methods to gain a foothold in the natural cosmetics segment in the region. For instance, Puig group, a Barcelona-based company, acquired Loto del Sur, a Colombian natural cosmetics company, in July 2022.

LIST OF KEY COMPANIES PROFILED:

• L’Oreal S.A. (France)


• Natura & Co. (Brazil)


• Johnson & Johnson Services, Inc. (U.S.)


• Avon Products, Inc. (U.S.)


• Tata Harper (U.S.)


• Costa Brazil (Brazil)


• Oriflame Cosmetics Global SA (Sweden)


• Sol de Janeiro (U.S.)


• O Boticário (Brazil)

KEY INDUSTRY DEVELOPMENTS:

• November 2021: Mustela launched its organic BIO line in Brazil, which draws on the benefits of avocado to restore and hydrate the skin.


• August 2021: Natura & Co partnered with WaterBear, a platform that facilitates environmental awareness, education, and action. Natura & Co deployed storytelling, advocacy and distribution across the WaterBear platform to raise awareness of the company’s ‘Commitment to Life’ sustainability drive.


• March 2021: Artistry brand launched its clean, traceable, and vegan cosmetic products line with Artistry Skin Nutrition products that work like supplements for the skin. The products are formulated and powered by innovative skin science and plant-based phytonutrients with clean ingredients and processes for healthy beauty.

REPORT COVERAGE

The South America Skincare market report provides quantitative and qualitative insights into the market and a detailed analysis of the South America Skincare market size & growth rate for various segments covered in the market. The research report elaborates on the market dynamics, competitive landscape, and the South America Skincare market forecast. Various insights presented in the report are a market overview of price analysis, an overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships, analysis of the market by product type, and the impact of COVID-19 on the market.

Report Scope & Segmentation