Natural Cosmetics Aim for New Markets

Sri Lanka and India are some of the markets that in 2019 began to demand natural cosmetics manufactured in Guatemala.

Tuesday, January 7, 2020

Sri Lanka and India are two of the new markets, which have reached cosmetic products such as: essential oils, soaps and detergents, fragrances, personal care items, reported the Guatemalan Association of Exporters (AGEXPORT).

More than 22 businessmen dedicated to production and export and who are organized into 5 sub-sectors which are: essential oils, fragrances, cosmetics, personal care and detergent soaps and cleaning products. All of them gathered in the Cosmetics Commission of AGEXPORT, have been adapting to new trends which are aimed at natural raw materials, flexible packaging, among others, details the statement of the guild.

You may be interested in "Beauty and Personal Care: Market Figures Up to 2018"

Melissa Corzo, Coordinator of the Cosmetics Commission of AGEXPORT, explains that "... Worldwide, there is a trend in natural cosmetics, and the national cosmetics industry has not let it go, which has impacted its exports of essential oils with citrus aromas, lemon, orange, peppermint, among others. In total it estimated to generate foreign exchange in 2019 for US$ 7 million with a 30.6% growth, satisfaction that was added to the demand of new markets such as Sri Lanka and India, followed by Ecuador, Venezuela, Peru, Colombia, Brazil, Europe: Germany, Netherlands, Switzerland."

One of the sub-sectors that attracts attention is that of fragrances, given that it is estimated that in 2019 it reached $35 million in exports, to markets such as Singapore, Canada, the Netherlands, Puerto Rico, Colombia, among others. While the cosmetics sub-sector exported about $23 million, to the markets of Ecuador, United States, Peru, Dominican Republic.

Corzo added that "... In fact, all the sub-sectors had an interesting growth in 2019. For example, we estimate an 8.2% (US$ 50 million) growth in hygiene items exported to Colombia, Belize, Costa Rica, Nicaragua. Likewise, the subsector of soaps and detergents registered in foreign currency US$ 160 million (6.1%) to markets such as Venezuela, Haiti, Germany, Cuba."

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The Guatemalan cleaning and personal care products industry plans to close 2017 with $312 million worth of exports.

From a statement issued by Agexport:

Guatemala, December 19, 2017A foreign currency income of US $312.4 million from exports of cleaning and personal care products is estimated by the sector at the close of this year, 2017. This is due to the fact that subsectors as essential oils (20%) cleaning products, detergents and soaps (9%) and perfumes, toiletry and cosmetics with (1%) are the subsectors in the cosmetic sector that have registered increases in their exports.

Potential Markets for Guatemalans Cosmetics

January 2013

In 2013 the Commission of Guatemala Cosmetics is counting on growth in markets such as Panama, Mexico and the Dominican Republic.

From an article published by the Guatemalan Association of Exporters (Agexport):

A year after the creation of the Commission of Cosmetics Exporters associated with AGEXPORT, the group has presented an overview of its achievements in 2012, and has an aggressive plan for 2013, in order to surpass the U.S. $300 million made at the close the year just ended.

Guatemala Exports More Cosmetics

January 2013

In 2012 the Guatemalan cosmetic industry exported $290 million worth of products, mainly to Central American countries, 6% more than in 2011.

An article in reports that "Central America is the leading destination for beauty products, however, the industry's growth is also due to the search for new markets in the Caribbean, such as the Dominican Republic."

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