Guatemala: Cosmetics Market 2024

Cosmetics Market Size in Guatemala

In 2022, the Guatemalan cosmetics market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, the total consumption indicated a temperate 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. Cosmetics consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cosmetics Production in Guatemala

In value terms, cosmetics production rose modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Cosmetics Exports

Exports from Guatemala

In 2022, shipments abroad of cosmetics increased by X% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, continue to indicate a slight descent. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cosmetics exports surged to $X in 2022. Overall, exports, however, saw a mild contraction. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

El Salvador (X tons), Nicaragua (X tons) and Honduras (X tons) were the main destinations of cosmetics exports from Guatemala, with a combined X% share of total exports. Panama, the Dominican Republic, Costa Rica and Peru lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X), El Salvador ($X) and Nicaragua ($X) appeared to be the largest markets for cosmetics exported from Guatemala worldwide, with a combined X% share of total exports. Panama, the Dominican Republic, Costa Rica and Peru lagged somewhat behind, together comprising a further X%.

Peru, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

In 2022, the average cosmetics export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cosmetics Imports

Imports into Guatemala

In 2022, approx. X tons of cosmetics were imported into Guatemala; with a decrease of X% compared with the year before. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cosmetics imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Mexico (X tons) constituted the largest cosmetics supplier to Guatemala, with a X% share of total imports. Moreover, cosmetics imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with an X% share.

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

In value terms, the largest cosmetics suppliers to Guatemala were Mexico ($X), Colombia ($X) and the United States ($X), with a combined X% share of total imports. China, Spain, Germany, El Salvador and Panama lagged somewhat behind, together accounting for a further X%.

China, 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

In 2022, the average cosmetics import price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Panama ($X per ton), while the price for El Salvador ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform