Mexico Beauty And Personal Care Market Size By Product Type, By Distribution, By Promotion And Forecast

Mexico Beauty And Personal Care Market Size And Forecast

Mexico Beauty And Personal Care Market size was valued at USD 9.46 Billion in 2020 and is projected to reach USD 19.48 Billion by 2028, growing at a CAGR of 7.5% from 2021 to 2028.

Care for the beauty of both Men and Women, rising Income level coupled with the changing consumer taste are the key drivers for this market. The Mexico Beauty And Personal Care Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Mexico Beauty And Personal Care Market Definition

After Brazil, Mexico is the next biggest country in Latin America! In 2019, the World Bank Data estimated that Mexico had a whopping 127.6 million people. That same year, its GDP, according to the World Bank, was a cool 1.27 trillion dollars. You know, Mexico is considered a developing nation. What's interesting is that around 85% of Mexicans are under 54! Back in 2010, UNICEF figured the average age was just 26 years old. This means there are way more working-age folks than kids and senior citizens. Plus, if you're into beauty and personal care, Mexico is a fantastic place. You can break down the Mexican market into two categoriespremium and mass market.

Mexico Beauty And Personal Care Market Overview

Okay, so most people in Mexico are pretty young—under 54! And get thisMarket Research says that Mexican men and women spend more time on their looks than people anywhere else. Guys are putting in about 30 minutes on grooming, while women are clocking in around 45! This focus on appearance? Probably has something to do with the young population. Plus, having siblings seems to make you even more beauty-conscious. And with all the digital channels out there, it's only gotten more intense. So, yeah, wanting to look good is a big deal and is really driving the market.

People are earning more these days! For example, the World Bank says Mexico's Gross National Income (GNI) jumped from $9180 in 2018 to $9480 in 2019 – that's a 3.27% increase. So, folks have more cash to splash, which naturally boosts their buying power. And guess what they're craving? Beauty products! Plus, we have a huge, young workforce hitting the offices. More money and youth? That's a recipe for wanting to spend on looking good!

Even though the Mexican Beauty Products market is quite strong and it is the 11 largest market in the world. Still, the market is quite small as compared to the total population in the country. Only 20% of the households hold few beauty products. Besides this, Men are equally beauty conscious in Mexico but 70% of the beauty products are for women. However, the lack of huge competitors in the market poses a brilliant opportunity for the international players to enter into the market for the beauty-conscious population.

Mexico Beauty And Personal Care MarketSegmentation Analysis

The Mexico Beauty And Personal Care Market can be segmented based on Product Type, Distribution, and Promotion.

Mexico Beauty And Personal Care Market, By Product Type

• Premium Product• Standard Product

So, when we look at Product Type, the market breaks down into two main categoriesPremium and Standard products. The Wisconsin Economic Development Corporation notes that Premium Products are really taking off! They saw a whopping 15% growth back in 2017. Even within the premium category, skincare stood out with a 6% jump. What's driving this growth? Well, lots of cool new brands are jumping into the mix. Think about itSephora showed up in 2011 and has been super successful ever since. Plus, it's easier than ever to find these products in your local department stores, which is definitely helping the whole segment grow.

Mexico Beauty And Personal Care Market, By Distribution

• Direct Selling• Supermarkets• Departmental Stores• Wholesalers• Spas and Beauty clinic

Based on Distribution, the market is segmented into Direct Selling, Supermarkets, Departmental Stores,  Wholesalers and Spas and Beauty clinic. Among the segments, Direct Selling has the highest market share. Approximately it has 40% of the market share. This is followed by Supermarkets which has around 30% of the market. The market for Wholesalers is around 15% whereas that of the Departmental Stores is less than 6%. Spas and Beauty clinic has the least share because of their different business model.

Mexico Beauty And Personal Care Market, By Promotion

• Advertisement• Show sponsorship• Radio• Others

Based on Promotion, the market is segmented into Advertisement, Show sponsorship, Radio and Others. Among all three segments, Advertisements specifically aggressive Advertisements forms the man market share as compared to other parts. Show Sponsorships are the next big segment. In Mexico, huge investment in Promotion strategy is the key strategies behind selling any product. Unless there is a huge investment product don’t sell much.

Key Players

The “Mexico Beauty And Personal Care Market” study report will provide valuable insight with an emphasis on the Mexican market. The major players are Avon Cosmetics, Colgate-Palmolive Company, Unilever, P&G and L’Oreal Paris.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players.

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Reasons to Purchase this Report

We dig into the market using both numbers and deeper insights, looking at different customer groups from every angle – not just their wallets! We'll give you the market size in billions of USD for each and every segment. Plus, we'll pinpoint the region and customer group set to explode with growth and take the lead. Our geography analysis shows where the product is really being used, explaining what's driving the market in each area. We'll also give you the competitive landscape, ranking the big players and tracking their new products, partnerships, expansions, and acquisitions from the last five years. Get detailed company profiles with overviews, insights, product comparisons, and SWOT analysis of the key players. You'll get the full picture of where the market is now and where it's heading, with growth opportunities, drivers, and potential roadblocks in both new and established markets. We also use Porter's five forces analysis to give you a comprehensive view, offer insights into the value chain, and explore the market's dynamics and future growth opportunities. And, to top it off, you get 6 months of analyst support after the sale to answer any questions you may have.

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