Cosmetics Market in Brazil to Grow at a CAGR of 11% During 2015-2019
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Albany, NY -- (SBWIRE) -- 05/27/2016 -- Technavios research analyst predicts the cosmetics market in Brazil to grow at a CAGR of 11% during the forecast period. The increase in the number of working women is the primary driver for the growth of this market. The need to look fresh and presentable at the workplace is the key reason for the increase in expenditure on cosmetics by working women. Moreover, women in Brazil are now more informed about cosmetic products in terms of ingredients, quality, and brands leading to a rise in demand for high-quality and premium products.
The growing popularity of blemish balm (BB) creams is also expected to contribute to the market growth. BB creams are multi-purpose creams that act as a serum, moisturizer, primer, foundation, and sunblock to give consumers a youthful, bright, and even skin tone. Oriflame and Avon are the leading vendors for BB creams in Brazil.
Product segmentation and analysis of - nail products, eye makeup, lip products, facial makeup
The nail product segment dominated the cosmetics market in Brazil during 2014, with a market share of 29%. This segment is expected to continue its leadership until the end of 2019, growing at a rate of 17%. Nail products in Brazil are perceived as an affordable luxury to freshen up the overall look and are used for daily grooming purposes.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
- Nail products
- Eye makeup
- Facial makeup
- Lip products
Segmentation by retail formats and analysis of - direct sales, franchise, traditional distribution
Traditional distribution channels accounted for 64% of the market share during 2014. The traditional distribution includes supermarkets, specialty stores, pharmacies, beauty shops, and department stores. Sale through pharmacies is gaining popularity in the region. Unilever, L'Oral, Johnson & Johnson, and P&G are some of the popular vendors who are selling their products through traditional retail channels.
- What will the market size and the growth rate be in 2019
- What are the key factors driving the cosmetics market in Brazil
- What are the key market trends impacting the growth of the cosmetics market in Brazil
- What are the challenges to market growth
- Who are the key vendors in this market space
- What are the market opportunities and threats faced by the vendors in the cosmetics market in Brazil
- What are the key outcomes of the five forces analysis of the cosmetics market in Brazil
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