Market By Gender (Male, Female) Product Type (Skincare, Body care, Makeup) Distribution Channel (Specialty/Single-brand stores, Supermarkets/ Hypermarkets, E-commerce) and Country Outlook | Forecast 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.
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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 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 for 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’ section on its FAQ page to assist global travelers in finding its products in physical stores.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the K-Beauty products market revenue growth in Latin America and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the Latin America K-Beauty products market’s growth during the upcoming years
Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. 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
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)
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)