What's Happening?
The beauty market in Latin America has posted a 13% growth in the first half of 2025, surpassing global growth rates. Fragrance remains the dominant category, accounting for 65% of total beauty sales and
growing by 15%. Middle Eastern fragrance brands are gaining traction, showing double- and triple-digit growth. The skincare market, influenced by Asian brands, particularly Japanese ones, is thriving despite a downgrading trend towards less expensive products. Multifunctional beauty products are prioritized by consumers, with makeup driven by fashion houses expanding their portfolios.
Why It's Important?
Latin America's beauty market growth reflects broader trends in consumer preferences and cultural influences. The dominance of fragrance and the rise of Asian skincare brands highlight the region's diverse consumer base and its openness to international influences. The prioritization of multifunctional products indicates a shift towards convenience and value, which could influence global beauty trends. The market's performance suggests potential opportunities for international brands to expand their presence in Latin America, leveraging the region's growth to boost their global market share.
