Uruguay: Cosmetics Market 2024

Cosmetics Market Size in Uruguay

The Uruguayan cosmetics market expanded sharply to $X in 2022, increasing by X% against 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). The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Cosmetics Exports

Exports from Uruguay

In 2022, the amount of cosmetics exported from Uruguay shrank modestly to X tons, waning by X% against 2021 figures. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cosmetics exports totaled $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for cosmetics exports from Uruguay, with a X% share of total exports. Moreover, cosmetics exports to Chile exceeded the volume sent to the second major destination, Argentina (X tons), threefold. The third position in this ranking was held by Free Zones (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Chile amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (X% per year) and Free Zones (X% per year).

In value terms, Argentina ($X), Free Zones ($X) and Chile ($X) were the largest markets for cosmetics exported from Uruguay worldwide, with a combined X% share of total exports. Brazil, Paraguay, Bolivia and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Brazil, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average cosmetics export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 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 Brazil ($X per ton), while the average price for exports to Hong Kong SAR ($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 Bolivia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cosmetics Imports

Imports into Uruguay

Cosmetics imports into Uruguay declined modestly to X tons in 2022, remaining relatively unchanged against the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then fell modestly in the following year.

In value terms, cosmetics imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Argentina (X tons) constituted the largest cosmetics supplier to Uruguay, accounting for a X% share of total imports. Moreover, cosmetics imports from Argentina exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Mexico (X tons), with a X% share.

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

In value terms, the largest cosmetics suppliers to Uruguay were Argentina ($X), France ($X) and the United States ($X), with a combined X% share of total imports. Colombia, China, Brazil, Mexico, Paraguay and Chile lagged somewhat behind, together accounting for a further X%.

China, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average cosmetics import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. 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 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 the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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