According to market researcher Euromonitor, Latin America is one of the fastest growing and more exciting markets in the personal care industry, and between 2013 and 2017 the region will increase its market share to 31% and will comprise 18% of the global personal care industry.
After a successful first ever show last year, in-cosmetics Brasil, will take place on September 30 – October 1, 2015, in Sao Paolo, aiming to help companies looking to tap into the huge opportunities that exist in the market.
Importance
“Latin America is going to be one of the most important markets in the personal care sector during the next five years. The recent and ongoing growth is testimony to that, with analysts seeing no let-up in this trend,” says Exhibition Manager Daniel Zanetti.
“in-cosmetics Brasil opens up the region to those who recognise this opportunity. We have designed the show to give international players an insight into a buoyant and yet relatively untapped market, whilst providing local companies access to the latest global developments.”
Zanetti explains that 2014 proved what an important role the exhibition could play in this exciting period of growth for the sector in Latin America, and is confident that 2015 will cement this position and provide the industry with an invaluable tool for the coming years.
Last year’s in-cosmetics Brasil saw 2,185 unique visitors looking to source the latest personal care ingredients and formulations from 192 exhibitors representing more than 20 countries.
Region growth
Brazil itself is the third biggest cosmetics and toiletries market in the world after the USA and China, according to Eurmonitor figures, with its beauty and personal care market forecasted to reach $55.6bn by 2017.
Mexico is the second biggest market in the region and was last year worth just over $11bn; and is expected to reach $12bn by 2017.
Other smaller markets are also experiencing exciting growth, are Colombia, Chile, and Peru; all expected to make considerable strides over the next two years.
One of the reasons for the growth has been an increase in disposable income in the region as many countries experience economic growth, which has resulted in an expanding middle class who have more aspirational desires than ever before, with more women entering the workplace, and an increasing interest from the male population who are more concerned about their appearance.