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Markets & trends

The Brazilian cosmetics market reached R$ 38 billion in 2013

Cosmetics, toiletries and fragrances (CT&F) products form one of Brazil’s most dynamic sectors. Last year, it grew by 4.9 per cent to reach R$ 38 billion according to the annual figures recently released by ABIHPEC, the Brazilian Association of the Cosmetic, Toiletry and Perfumery Industry, in its latest report.

Over the past 18 years, the CT&F market has recorded an average deflated compound growth rate of roughly 10 per cent. Net ex-factory sales have grown from R$ 4.9 billion (US$ 2.2 billion or EUR 1.6 billion) in 1996 to R$ 38 billion (US$ 17 billion or EUR 12.2) in 2013

Source: ABIHPEC

Source: ABIHPEC

According to ABHIPEC, such an impressive growth can be explained by:

- The greater affordability of CT&F products by the lower middle and lower classes, due to higher income.
- Newly arrived members of the middle class have started to consume higher value added products.
- Growing participation of Brazilian women in the job market.
- Use of cutting-edge technology, leading to enhanced productivity and benefiting CT&F pricing, which has increased less than the price indexes of the overall economy.
- Ongoing releases of new products to meet growing market needs.
- Greater life expectancy, prompting the need to preserve a youthful impression.

Brazil ranks third in the world

Brazil’s CT&F market is now ranked at the third position in the world, after the USA and China, according Euromonitor data for 2013. Specifically, it ranks 1st in fragrances and deodorants, 2nd in hair care, men’s and kids’ products, bath care, depilatories and sun care, 3rd in colour cosmetics (makeup and nail care), 4th in oral care, and 5th in skin care.

Imports increase

Over the last ten years (2003-2013), imports grew faster than exports. While the average accumulated growth of exports was of 10.2% per annum over the period, the average accumulated growth of imports was 21.4% per annum.

In 2013, Brazil exported to 143 countries, mainly LATAM destination countries …

… and imported from 68 countries in 2013.

The CT&F Industry’s trade deficit, which totaled US$ 163.1 million in 1997, trended downward in the following years, sinking to US$ 8 million in 2001, but then bounced above the line in 2002 and onwards. In 2009, the surplus climbed to US$ 131 million, representing a 27.8% drop in relation to 2008, reflecting an appreciation in the real, which widened the deficit to US$ 412 million in 2013.

© 2014 - Brazil Beauty News - www.brazilbeautynews.com

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