|By Marketwired .||
|March 5, 2014 07:00 AM EST||
CHICAGO, ILLINOIS -- (Marketwired) -- 03/05/14 -- Market Research Company Euromonitor International released today a new e-book identifying the top five beauty and personal care trends in 15 countries throughout North and South America.
Overall, South America will see growth in most categories across beauty and personal care thanks to innovative new products and a strong beauty culture driving sales even in struggling economies. Mature North American countries will see expanding opportunities in colour cosmetics as fashion designers continue to enter the market with their own beauty lines and anti-ageing products.
"The US market will benefit from a growing range of multifunctional products from BB and CC creams to whitening mouthwash, sought out by today's busy consumers," says Senior Analyst, Kay Tamillow, "Meanwhile, new products launches in Latin America will keep pushing emerging categories like men's grooming and intimate hygiene."
Trends Highlighted in the E-Book:
BB Creams have seen increased popularity in countries such as Brazil and Mexico as multifunctional face cream debuted in the market. In Brazil, these creams can be more expensive but are still performing well because consumers perceive them as multi-functional and find it cheaper to buy one slightly expensive product versus multiple items separately. In 2012, L'Oreal's Garnier brand launched the first BB cream in Mexico and since then several premium and mass brands have also launched BB creams, contributing to a wider product offering within the country.
Nail Products are still very popular in markets such as Argentina and the Dominican Republic. In Argentina, nail colour has taken over lipstick as the guilty indulgence for women and nail products are the best performing category for beauty and personal care in the country. Despite a decline in beauty and personal care sales in the Dominican Republic, nail products are the big winner with growth in both volume and value with innovation and colour ranges strengthening the trend.
Skin Care in Chile is seeing new innovation through product development and technological advances. New anti-ageing products are continually appearing on the market, targeted at both female and male consumers. Meanwhile, Canada's growing immigrant population has a strong preference for products with skin-whitening properties and therefore is not satisfied with what Canadian retail has to offer. This is creating opportunities for imported brands and ethnic retailers to drive category growth. Within premium skin care, Costa Rican consumers use cleansers, toners and creams as part of their regular facial care process, which ranks them among the top three countries in terms of per capita consumption of these products in Latin America.
Direct Selling in Bolivia is relying on traditional advertising strategies such as TV commercials, print media and billboards to promote their products to consumers. This new shift proved successful though, as many large companies continue to grow in the market. In Ecuador, direct selling is growing the fastest in actual terms of all channels in 2013 and it is the largest distribution channel among beauty and personal care products. Direct selling will bring products to a wider range of socioeconomic classes over the next five years and will push consumers to try specialized products.
Please learn more see: http://go.euromonitor.com/top-five-beauty-and-personal-care-trends-by-country-in-north-and-south-america.html and download the E-book.
About Euromonitor International
Euromonitor International is the world's leading provider for global business intelligence and strategic market analysis. We have over 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
We deliver market research solutions to support strategic planning for today's increasingly international business environment. Our research offers in-depth market analysis on consumer goods and services industries worldwide, as well as economic, demographic and socio-economic data and insight on countries and consumers.
Euromonitor International is headquartered in London, with regional offices in Chicago, Brazil Singapore, Shanghai, Vilnius, Santiago, Dubai, Cape Town, Tokyo, Sydney and Bangalore, and has a network of over 800 analysts worldwide.
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