Market Insights Consumer Beauty & Personal Care Cosmetics

Lip Cosmetics - Colombia

Colombia

In Colombia, the revenue in the Lips market for the year 2024 amounts to €74.20m.
It is projected to experience an annual growth rate of 5.96% (CAGR 2024-2029).
When compared globally, in the United States takes the lead in generating the highest revenue, which is €3,671m in 2024.
In terms of per person revenues, the figure stands at €1.42 for the year 2024.
Colombia's demand for lip fillers has surged in recent years, reflecting the country's growing beauty industry.

Key regions: United Kingdom, United States, India, United Arab Emirates, Indonesia

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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.