Guatemala: Market for Beauty, Make-Up And Skin Care Preparations 2024

Market Size for Beauty, Make-Up And Skin Care Preparations in Guatemala

The Guatemalan market for beauty, make-up and skin care preparations contracted slightly to $X in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a modest increase. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports from Guatemala

In 2022, shipments abroad of beauty, make-up and skin care preparations increased by 2.4% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 18% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of beauty, make-up and skin care preparations soared to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons), Nicaragua (X tons) and Honduras (X tons) were the main destinations of exports of beauty, make-up and skin care preparations from Guatemala, with a combined 79% share of total exports. The Dominican Republic, Panama, Costa Rica and Peru lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +7.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for beauty, make-up and skin care preparations exported from Guatemala were Honduras ($X), El Salvador ($X) and Nicaragua ($X), with a combined 80% share of total exports. The Dominican Republic, Panama, Costa Rica and Peru lagged somewhat behind, together accounting for a further 16%.

The Dominican Republic, with a CAGR of +9.5%, saw the highest growth rate of 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 export price for beauty, make-up and skin care preparations stood at $X per ton in 2022, surging by 22% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Honduras ($X per ton), while the average price for exports to Peru ($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 Honduras (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Beauty, Make-Up And Skin Care Preparations

Imports into Guatemala

In 2022, imports of beauty, make-up and skin care preparations into Guatemala contracted modestly to X tons, remaining relatively unchanged against the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 18% against the previous year. Over the period under review, imports of hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of beauty, make-up and skin care preparations skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of beauty, make-up and skin care preparations to Guatemala, accounting for a 54% share of total imports. Moreover, imports of beauty, make-up and skin care preparations from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Colombia (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+50.4% per year) and Colombia (-1.1% per year).

In value terms, Mexico ($X), the United States ($X) and Colombia ($X) appeared to be the largest beauty, make-up and skin care preparations suppliers to Guatemala, with a combined 60% share of total imports. France, Spain, China, Germany, El Salvador, Panama and Chile lagged somewhat behind, together comprising a further 25%.

China, with a CAGR of +63.0%, 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 import price for beauty, make-up and skin care preparations stood at $X per ton in 2022, rising by 19% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform