Sri Lanka and India are some of the markets that in 2019 began to demand natural cosmetics manufactured in Guatemala.
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.
In the first six months of the year, Central American companies imported $239 million in beauty and personal care items, and imports from Colombia increased 5% over the same period in 2017.
Figures from the information system on the Beauty and Personal Care Articles Market in Central America compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In the first three months of the year, Central American countries imported $116 million worth of beauty and personal care items, and $52 million were purchased by companies in Guatemala and Costa Rica.
Figures from the information system on the Beauty and Personal Hygiene Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData : [GRAFICA caption = "Click to interact with graph"]
Between January and March of this year, companies in Guatemala imported $27 million worth of beauty and personal hygiene items, 3% more than in the same period in 2017, and 56% came from Mexico and the United States.
Figures from the information system on the Beauty and Personal Hygiene Market in Guatemala, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Last year imports of beauty and personal care products in Central America amounted to $489 million, representing a 2% increase with respect to 2016.
Figures from the information system on the Beauty and Personal Hygiene Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Between January and September 2017, Central American companies imported $362 million worth of beauty and personal care products, and Costa Rica and Guatemala accounted for 44% of purchases.
Figures from the Information System on the Beauty and Personal Care Market in CentralAmerica compiled by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with graph"]
Eye makeup and hair products led exports of cosmetic products in the first ten months of 2017, which amounted to about $33 million.
Eye makeup, hair products, creams, lotions, powders, lipsticks and manicure and pedicure products are the main products that Dominican companies manufacture and export, mainly to the US market.
In 2016, imports of beauty and personal hygiene products totaled $104 million, and the value imported from the United States increased 13%.
Figures from the Information System on the Beauty and Personal Care Market in Guatemala complied by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Clic to interact with the chart"]
In 2016, Central American countries imported $477 million worth of beauty and personal hygiene articles, and 60% came from Mexico, the United States and Colombia.
Figures from the Information System on the Beauty and Personal Care Market in Central America prepared by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with the graphic"]
In 2016 imports of makeup and skin care products grew by 7% compared to 2015, while imports of shampoo and hair preparations grew by 10% in the same period.
Hand in hand with the growth in Nicaraguan's purchasing power comes an increase in demand for luxury products and services such as haircuts and other specialized treatments in beauty salons or purchase of skin care products.
The year's end balance for the cosmetics industry reveals a noteworthy total amount of exports, with overseas sales up to October projected to be above $200 million.
From a statement issued by Agexport:
Guatemalan cosmetics and hygiene products have been in the hands of Dominicans and Central Americans since the 2016, they form a major part of the customers who demand these world-class items.The cosmetics sector highlights the total amount of its exports, projecting overseas sales above US $200 million up to October, and this year one of the most challenging and important aspects for the sector is to overcome challenges such as smuggling and counterfeiting.
When the concepts "natural, organic and integral" were not as established as they are today, the Costa Rican brand Bioland set a firm course in that direction, and thirty years later, remains a leader in this market.
An article in Elfinancierocr.com makes clear from the first paragraph what is the essence of Bioland: the nonnegotiable philosophy of its founders for "... all-natural, healthy and environmentally friendly products."
Projections are that the nutraceutical and nutricosmetics industry will grow at rates of between 10% and 12% in the next five years.
From a statement issued by the Foreign Trade Promotion Office of Costa Rica (Procomer):
The global market for nutraceuticals continues to grow and forecasts also indicate that one of the key elements which will drive the market, according to sources such as Datamonitor, Mintel, TechNavio, Transparency, Global Industry Analysts and Research & Markets, is the increase in the population advanced in age, which results in increased demand for anti-aging and types of nutricosmetics which combat hair loss.
Of the $3,300 million worth of in skin creams, lotions and bleaching products for men sold worldwide in 2013, 64% was purchased by Asians.
Adding up to a total expense of $2.1 billion, Asian men outpace those in the U.S., who spent $286.4 million and Western European men who spent $682.9 million on personal care products in 2013. China, including Hong Kong, is the largest Asian market for men's skin care products with the equivalent of $974.8 million, an amount that could increase to $1.2 billion in 2014.