Market Insights Consumer Beauty & Personal Care

Cosmetics - Colombia

Colombia

In 2024, the Cosmetics market in Colombia is projected to generate revenue of €416.40m.
It is anticipated that the market will experience an annual growth rate of 6.75% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, with an estimated figure of €18,470m in 2024.
Taking into account the total population, per person revenues in Colombia are expected to reach €7.96 in 2024.
Additionally, it is forecasted that 84% of sales in the Cosmetics market will be attributed to Non-Luxury by 2024.
Colombia's cosmetics market is experiencing a surge in demand for organic and natural products, reflecting a growing consumer preference for sustainable and eco-friendly options.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Moneda

Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.