Colombia: Cosmetics Market 2024

Cosmetics Market Size in Colombia

In 2022, the Colombian cosmetics market increased by X% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption, however, saw a mild descent. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Cosmetics Production in Colombia

In value terms, cosmetics production fell modestly to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable curtailment. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Cosmetics production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Cosmetics Exports

Exports from Colombia

Cosmetics exports from Colombia contracted to X tons in 2022, declining by X% compared with 2021. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, cosmetics exports expanded rapidly to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for cosmetics exports from Colombia, with a X% share of total exports. Moreover, cosmetics exports to Mexico exceeded the volume sent to the second major destination, Ecuador (X tons), threefold. Peru (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Peru (X% per year).

In value terms, the largest markets for cosmetics exported from Colombia were Mexico ($X), Peru ($X) and Ecuador ($X), together comprising X% of total exports. The United States, Chile, Panama, the Dominican Republic, Guatemala, Costa Rica, Bolivia, El Salvador, Venezuela and Brazil lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average cosmetics export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, showed a noticeable shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Mexico ($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 Panama (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cosmetics Imports

Imports into Colombia

In 2022, approx. X tons of cosmetics were imported into Colombia; growing by X% compared with 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, cosmetics imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Mexico (X tons) and Spain (X tons) were the main suppliers of cosmetics imports to Colombia, with a combined X% share of total imports. Poland, Brazil, the United States, France, Peru and Chile lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cosmetics suppliers to Colombia were the United States ($X), Spain ($X) and France ($X), with a combined X% share of total imports.

Spain, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 cosmetics import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :