Colombia: Perfume Market 2024

Perfume Market Size in Colombia

The Colombian perfume market surged to $X in 2022, with an increase of 21% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Perfume Production in Colombia

In value terms, perfume production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 16%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Perfume Exports

Exports from Colombia

In 2022, approx. X tons of perfumes and toilet waters were exported from Colombia; falling by -4.7% compared with the previous year's figure. Over the period under review, exports saw a slight downturn. The pace of growth was the most pronounced in 2017 when exports increased by 26% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, perfume exports dropped to $X in 2022. In general, exports continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 23% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons), Mexico (X tons) and Bolivia (X tons) were the main destinations of perfume exports from Colombia, with a combined 58% share of total exports. Chile, the Dominican Republic, Costa Rica, El Salvador, Guatemala, Ecuador and Venezuela lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +14.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Chile ($X) and Mexico ($X) constituted the largest markets for perfume exported from Colombia worldwide, together comprising 57% of total exports.

Chile, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average perfume export price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price saw a mild decrease. The pace of growth was the most pronounced in 2020 an increase of 3.3%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Perfume Imports

Imports into Colombia

In 2022, overseas purchases of perfumes and toilet waters were finally on the rise to reach X tons after two years of decline. In general, imports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of 44% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, perfume imports stood at $X in 2022. Overall, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 28%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest perfume supplier to Colombia, with a 37% share of total imports. Moreover, perfume imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Spain (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +51.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.0% per year) and Spain (+8.7% per year).

In value terms, the United States ($X), Spain ($X) and France ($X) were the largest perfume suppliers to Colombia, together comprising 63% of total imports. Brazil, China, Peru, Poland, Ecuador, India, Argentina, Sweden and Panama lagged somewhat behind, together comprising a further 24%.

Poland, with a CAGR of +56.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average perfume import price stood at $X per ton in 2022, with a decrease of -15.4% against the previous year. Over the period under review, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 12%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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