Market Insights Consumer Beauty & Personal Care

Skin Care - Ecuador

Ecuador

In Ecuador, the Skin Care market is projected to generate a revenue of €346.20m in 2024.
It is expected to exhibit an annual growth rate of 1.98% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, with a projected amount of €22,830m in 2024.
In relation to the country's population, the per person revenue in 2024 is estimated to be €18.84.
Additionally, by 2024, luxury goods will account for [max[maxNon-LuxuryRevenueShare]RevenueShareValue] of the total sales in the Skin Care market.
Ecuadorian consumers are increasingly drawn to natural and organic skincare products due to the country's rich biodiversity and focus on sustainability.

Key regions: United Arab Emirates, Malaysia, United Kingdom, South Korea, 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.