Mexico Beauty and Personal Care Market Insights Forecasts to 2033

• The Mexico Beauty and Personal Care Market Size was valued at USD 10.64 Billion in 2023.
• The Market is Growing at a CAGR of 6% from 2023 to 2033
• The Mexico Beauty and Personal Care Market Size is Expected to Reach USD 19.05 Billion by 2033

The Mexico Beauty and Personal Care Market is Anticipated to Reach USD 19.05 Billion by 2033, growing at a CAGR of 6% from 2023 to 2033.

Market Overview

Beauty and personal care products contain a wide range of products intending to amplify a person's appearance and physical well-being. Increasing disposable income between people influencing to invest in beauty and personal care products. A variety of products such as bath and shower care products, hair care products, cosmetic products, skin care products, and others are included in the beauty and personal care products. Rapid urbanization and climate change affect people's skin and consequently drive the beauty and personal care market in Mexico. Demand for organic products is rising due to influencing awareness related to environmental sustainability and inclined toward eco-friendly packaging.

Report Coverage

This research report categorizes the market for the Mexico beauty and personal care market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Mexico beauty and personal care market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Mexico beauty and personal care market.

Driving Factors

Adoption of a modern lifestyle pressurizes people to enhance appearance and wellness and increases disposable income inclining people to invest in the beauty and personal care market hence driving the beauty and personal care market. People are becoming more aware of the benefits of using organic products driving the market. Consumers are investing in personal and beauty care products such as body and foot care products, lips care products. Extension of e-commerce key factor for selling the market.

Restraining Factors

Stiff competition and the presence of large market players restrain the growth of the beauty and personal care market. Increasing phobia about harmful chemical ingredients and skin damage constrain the market of beauty and personal care.

Market Segmentation

The Mexico Beauty and Personal Care Market share is classified into product type and distribution channel.

• The facial care segment is expected to hold the largest market share through the forecast period.

The Mexico beauty and personal care market is segmented by product type into facial care, lip care, body care, foot care, and hand care. Among these, the facial care segment is expected to hold the largest market share through the forecast period. Modern lifestyle adoption and social pressure to look and appear good has increase demand of facial care products. Wide range of accessibility and affordability of products driving the facial cream market.

The retail store segment is expected to dominate the Mexico beauty and personal care market during the forecast period.       

Based on the distribution channel, the Mexico beauty and personal care market is divided into supermarkets/hypermarkets, convenience/grocery stores, pharmacies/drugstores, and online retail stores. Among these, retail stores are expected to dominate the Mexico beauty and personal care market during the forecast period. Accessibility of retail stores in remote areas fuelling the market segment. Retail segment offers tactile engagement others distribution channels lack this, hence enhance the growth of this segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Mexico beauty and personal care market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Avon Cosmetics
• Colgate-Palmolive Company
• Unilever PLC
• Procter & Gamble
• L’Oréal Paris
• Beiersdorf
• Mary kay
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, Amorepacific, 'Korea's largest' beauty conglomerate, launched its skincare brand, Laneige, in the Mexican beauty market. The expansion into Mexico is in partnership with Sephora Mexico.

Market Segment

This study forecasts revenue at Mexico, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Mexico beauty and personal care market based on the below-mentioned segments:

Mexico Beauty and Personal Care Market, By Product Type

• Facial care
• Lip care
• Body care
• Foot care
• Hand care

Mexico Beauty and Personal Care Market, By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience/Grocery Stores
• Pharmacies/Drugstores
• Online retail stores