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

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

After three years of decline, the Mexican market for beauty, make-up and skin care preparations increased by 10% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Beauty, Make-Up And Skin Care Preparations in Mexico

In value terms, production of beauty, make-up and skin care preparations declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% 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 2016 with an increase of 20% against the previous year. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports from Mexico

In 2022, overseas shipments of beauty, make-up and skin care preparations increased by 0.7% to X tons, rising for the fourth year in a row after three years of decline. Overall, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 231%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, exports of beauty, make-up and skin care preparations skyrocketed to $X in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +40.2% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 40% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for exports of beauty, make-up and skin care preparations from Mexico, with a 61% share of total exports. Moreover, exports of beauty, make-up and skin care preparations to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), sixfold. Colombia (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+0.1% per year) and Colombia (+2.7% per year).

In value terms, the United States ($X) remains the key foreign market for beauty, make-up and skin care preparations exports from Mexico, comprising 69% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 5.2% share of total exports. It was followed by Colombia, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-4.2% per year) and Colombia (+3.5% per year).

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 20% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 145%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Guatemala ($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 Brazil (+7.5%), 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 Mexico

In 2022, imports of beauty, make-up and skin care preparations into Mexico skyrocketed to X tons, increasing by 72% on the year before. Overall, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of beauty, make-up and skin care preparations rose remarkably to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +60.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

China (X tons), Spain (X tons) and France (X tons) were the main suppliers of imports of beauty, make-up and skin care preparations to Mexico, with a combined 51% share of total imports. The United States, Colombia, Brazil, Canada, South Korea, Poland and Germany lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +33.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest beauty, make-up and skin care preparations suppliers to Mexico were the United States ($X), France ($X) and Spain ($X), together comprising 61% of total imports. Colombia, Brazil, Canada, Poland, China, South Korea and Germany lagged somewhat behind, together comprising a further 31%.

In terms of the main suppliers, South Korea, with a CAGR of +34.0%, saw the highest growth rate of the value of imports, 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 import price for beauty, make-up and skin care preparations amounted to $X per ton, with a decrease of -33% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 59% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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