Sales of the cosmetics and personal hygiene sector in Peru will reach S/ 9,309 million during 2024, a figure that would represent a growth of 6% compared to last year, according to estimates by the Cosmetics and Personal Hygiene Guild (COPECOH) of the Chamber of Commerce of Lima (CCL).
This information was provided by Ángel Acevedo, president of COPECOH, during the presentation of the Commercial Intelligence Study – Annual Result 2023 and Projections to 2025.
“This year the cosmetics industry in a standard scenario would be driven, mainly by the facial treatment category, followed by makeup, fragrances, hair care, body treatment and personal hygiene. However, in an optimistic scenario we could grow by up to 11%.”
It should be noted that the cosmetics and personal hygiene sector is experiencing notable growth, with figures that reflect a renewed and dynamic industry. Thus, in 2023, a total of 92 new foreign companies of different categories entered the Peruvian market, marking a clear consumer trend for the industry’s products.
The incorporation of new companies has considerably boosted the sector. According to the Copecoh study, in 2023 the cosmetics and personal hygiene sector had a turnover of S/ 8,800 million, registering a growth of 9% compared to the previous year, also driven by the facial treatment category, which shows a strong and constant demand for these products. This industry even surpassed the pharmaceutical market, which had a turnover of around S/ 7 billion.
According to this research, of the total number of companies that joined the country, a high number are observed that focus on facial treatment, adding a total of 29 new companies.
On the other hand, the fragrance category has also experienced considerable growth in the last year, especially through the direct sales channel. Among the best-selling brands on the market are Nitro (Cyzone), Homem (Natura) and Boss (Hugo Boss) for men, while Ccori (Yanbal), Expression (Esika) and La Vie Est Belle (Lancome) are the preferred by women.
For Ángel Acevedo, president of the Copecoh Guild, there is an additional indicator of the positive impact of the industry on the economy, which is the relevance of the sector in the consumer price index and the basket of mass consumption products. Regarding this figure, personal care products and services have registered an index of 4.8, highlighting the importance of these items in the daily lives of consumers.
The trends that emerge on social networks about makeup, grooming and lifestyle have marked a notable change in the cosmetics and personal hygiene industry. Today’s consumer not only trusts the promise of a beauty image when using the product, but seeks to discover new principles by purchasing innovative products.
Ángel Acevedo emphasized that this new behavior has caused them to be more aware of the ingredients of the treatments they use, check the labels and do more research before making a purchase. For this reason, dermocosmetics have grown by up to 100% compared to previous years.
These products have greater medical and scientific evidence, so their economic value is higher than the rest. As a consequence, the money that consumers allocate to their ‘SkinCare’ routine is greater, therefore, the average consumption per capita has risen to S/ 828 (US$ 218) per year.
“Before, talking about personal care referred to soaps or personal care products, now this money is invested in creams that are part of the facial treatment routine known as ‘SkinCare’, which has a much higher price than traditional soaps. And consumers consider it essential to include these products in their grooming routine,” added the specialist.
Finally, today’s consumer seeks to be more efficient and intelligent when purchasing products from the sector without skimping on the price, but always considering maximizing their benefits.
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– 2024-05-03 01:32:09
