Market Insights Consumer Beauty & Personal Care

Cosmetics - Mexico

Mexico

In 2024, the revenue in the Cosmetics market in Mexico is projected to reach €1.56bn.
According to forecasts, the market is expected to grow at an annual rate of 4.64% (CAGR 2024-2028).
It is worth noting that in a global comparison, in the United States generates the highest revenue in the Cosmetics market, with an estimated figure of €18,660m in 2024.
To put the revenue into perspective, in 2024, per person revenues in Mexico's Cosmetics market amount to €12.05.
This indicates the average amount of revenue generated per individual in relation to the total population figures.
Furthermore, by 2024, approximately 75% of the sales in the Cosmetics market can be attributed to Non-Luxury.
This signifies the proportion of sales that are generated by products that are not considered luxury items.
Mexico's cosmetics market is witnessing a surge in demand for natural and organic products, driven by increasing consumer awareness of sustainability and environmental concerns.

Key regions: Singapore, Indonesia, Canada, United Kingdom, United Arab Emirates

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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.