Cosmetics in Chile Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Market Size (2023) | USD 300.66 Million |
| Market Size (2028) | USD 517.91 Million |
| CAGR (2023 - 2028) | 11.49 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cosmetics in Chile Market Analysis
The Chile Cosmetics Products Market size is expected to grow from USD 300.66 million in 2023 to USD 517.91 million by 2028, at a CAGR of 11.49% during the forecast period (2023-2028).
The COVID-19 pandemic has had a neutral impact on the Chile Cosmetics Market, which witnessed a decline throughout the pandemic period and is currently still in the growth phase. The cosmetics market, including functional cosmetics and skincare ingredients in the region, witnessed a notable decline in sales due to disruption caused by the outbreak of the covid19 pandemic. The first quarter sales of 2020 for cosmetics products manufacturers were weak, as there was widespread closure of stores in chile. For instance, in 2020, cosmetics and personal care direct sales accounted for 76.4 percent of the total direct retail sales in Chile, registering a slight decrease compared to the previous years. In 2019, the highest value of 82.4 was reached, according to World Federation Statistical Database.
Increasing demand for multifunctional products is driving Chile's beauty and cosmetics market. This, in turn, remains lucrative as price-conscious consumers prefer products that provide multi-benefits in a single product. Social media's influence has ignited consumers' interest in cosmetics products, especially among the younger generation. This, coupled with constant product innovations and variations, has broadened the market's growth prospects.
Cosmetics in Chile Market Trends
This section covers the major market trends shaping the Chile Cosmetics Products Market according to our research experts:
Surge in the Demand for Organic Cosmetics Products
Consumers are seeking cosmetics products with oils, including blended formulations and pure organics, to provide healthy fixes for dry and damaged skin. This factor has resulted in the robust growth of the market studied. The shift in consumer behavior while purchasing natural and organic-based cosmetics products rather than conventional products have evolved in the entire retailing segment offering. Products with more natural claims and packaging and labeling that claim the benefits are expected to grow across retail outlets.
The market players have continued to dominate the changing landscape of the natural and organic cosmetics products market with their expertise in a diverse range of products. Strategic partnerships and mergers and acquisitions will be the key factors in enhancing the product offerings and customer base. Consumers perceive using natural and organic ingredients in their cosmetics products as a high standard of living as organic cosmetic products are relatively expensive. Consumers are estimated to be highly willing to pay more for natural and organic products. It is evaluated that premium natural and organic cosmetic products are gaining popularity.
Hair Styling and Coloring Products Hold a Significant Share with Potential Growth
Due to shifting fashion trends and an aging population, which is increasingly mindful of looking great and seeming young, hair styling products are in high demand. Hair styling items such as hair creams, wax, hair gels, hair oils, and related products are growing popular among target clients. Increased incidence of grey hair among the young working population due to stress and improper diet is primarily driving the hair coloring market. Permanent hair colorants offer long-lasting hair color, which is why the demand for the category has inflated.
Hair styling product companies are concentrating on providing the best hair styling products for everyday usage to acquire market dominance. The hair styling industry's product offerings are projected to expand in the coming years. Physical appearance has become increasingly essential in the fashion business and all of the marketplaces involved with these items. Hair styling products have become increasingly popular as people have become more mindful of their appearance.
Cosmetics in Chile Industry Overview
The major emerging market players targeting leading brands are making strategic acquisitions of the market leaders in more mature and sophisticated markets. Acquiring these brands enables diversification and gives these players access to stable cash flows and further growth opportunities — the cosmetic products market witnesses high competition with the dominance of major global players. Various players are entering the market to tap the untapped potential of the cosmetic products market. Some major players in the Chilean cosmetics products market are L’Oréal Group, Beiersdorf AG, The Estée Lauder Companies Inc, and Oriflame Cosmetics S.A, among others.
Cosmetics in Chile Market Leaders
The Estée Lauder Companies Inc.
L’Oréal Group
Beiersdorf AG
Avon Products, Inc.
Oriflame
*Disclaimer: Major Players sorted in no particular order
Cosmetics in Chile Market News
- In 2022, L'Oréal unveiled the latest beauty tech innovations ahead of CES 2022, reinventing hair coloration with two user-design breakthrough innovations dedicated to transforming the experience for consumers and in hair salons for professionals. Coloright and Colorsonic, a 2022 CES innovation awards honoree, reinvented the consumer hair coloring experience through user-design breakthroughs at home and in the salon across many countries like the US, China, India, Chile, and Japan.
- In 2020, with stores closed, M·A·C Cosmetics expanded AR (Augmented Reality) try-on for its e-commerce website worldwide. Its AR try-on tool comes when shopping habits and the retail environment continue to change post-COVID-19 shutdowns. The company hopes its AR-play will be used as an omnichannel tool. The tool is available for lip and eye products, and the company is expanding the feature to its other range of products.
- In 2020, Olay launched a new line of products to address tired skin and arrest premature skin aging in South America. The new Regenerist Retinol24 line uses retinol as its main active ingredient. Retinol is Vitamin A, and it is said to reduce fine lines and wrinkles, fade dark spots, and tighten pores.
Cosmetics in Chile Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Face Cosmetics
5.1.2 Eye Cosmetics
5.1.3 Lip Cosmetics
5.1.4 Hair styling and coloring products
5.2 By Category
5.2.1 Premium
5.2.2 Mass Merchandiser
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Beauty Salons
5.3.3 Specialist Retailers
5.3.4 Online Retail
5.3.5 Other Distribution Channel
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 L'Oreal Group
6.3.2 Beiersdorf AG
6.3.3 The Estee Lauder Companies Inc.
6.3.4 Belcorp
6.3.5 Avon Products, Inc.
6.3.6 Oriflame Cosmetics S.A
6.3.7 Mary Kay
6.3.8 Nutra & Co.
6.3.9 Granasur S.A
6.3.10 Kosmetik Chile Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cosmetics in Chile Industry Segmentation
Cosmetics consist of mixtures of chemical compounds derived from either natural or synthetically created ones. Cosmetics have various purposes. Those designed for personal and skin care can be used to cleanse or protect the body or skin. Chile's Cosmetics Product Market is segmented by product type and distribution channel. On the basis of product type, the market is segmented into Face Cosmetics, Eye Cosmetics, Lip Cosmetics, Hairstyling, and coloring products. Based on the distribution channels, the market is segmented into Supermarkets/Hypermarkets, Beauty Salons, Specialist Retailers, Online Retail, and Other Distribution Channels.
| By Product Type | |
| Face Cosmetics | |
| Eye Cosmetics | |
| Lip Cosmetics | |
| Hair styling and coloring products |
| By Category | |
| Premium | |
| Mass Merchandiser |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Beauty Salons | |
| Specialist Retailers | |
| Online Retail | |
| Other Distribution Channel |
Cosmetics in Chile Market Research FAQs
How big is the Chile Cosmetics Products Market?
The Chile Cosmetics Products Market size is expected to reach USD 300.66 million in 2023 and grow at a CAGR of 11.49% to reach USD 517.91 million by 2028.
What is the current Chile Cosmetics Products Market size?
In 2023, the Chile Cosmetics Products Market size is expected to reach USD 300.66 million.
Who are the key players in Chile Cosmetics Products Market?
The Estée Lauder Companies Inc., L’Oréal Group, Beiersdorf AG, Avon Products, Inc. and Oriflame are the major companies operating in the Chile Cosmetics Products Market.
Cosmetics in Chile Industry Report
Statistics for the 2023 Cosmetics in Chile market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cosmetics in Chile analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
