Latin America rising: first Make Up in Sao Paulo event approaches
The Brazil-based show will offer global industry players from across the supply chain the opportunity get an insight into the dominant emerging region, with everyone from formulators to full service providers set to attend.
The show is gearing up to open its doors to visitors in the meeting rooms of the Renaissance Hotel in Sao Paulo, 3rd – 4th December 2014.
Booming region
Brazil currently ranks 3rd in the world in the field of cosmetics, according to the show’s organisers, with a turnover of USD 17.6 billion and with an average annual growth rate peaking at over 10% during the past 17 years.
With the market set to reach a value of $5.1 billion by the end of 2018, latest Canadean research notes that despite the country’s general recession in the last four quarters, cosmetics sales are still booming, confirming the country as a prime location for a new trade show.
"This proves that the make-up market in Brazil is booming – even in times of low consumer confidence and in the poorest areas of the country," observed analysts with the firm.
But it’s not just Brazil enjoying growth in beauty: indeed, the region as a whole is faring very well, with Chile’s market growing at a healthy annual rate of 8%, Colombia’s skin care segment up 8.5% a year, and Peru’s beauty market now exceeding $1.26 billion.
Plenty of potential
Despite its blossoming pool of end consumers, Brazil’s beauty industry is still limited to a narrow industrial sector, represented by just a few subcontractors and leading brands – which means there’s plenty of room for segment diversification up ahead.
Pierre Miasnik, CEO of French nail care Fiabila, suggests that the best way to get into Brazil is to start production from within the country itself.
"The market is indeed huge in Brazil, but the problem is that because it’s difficult to set foot in it, there is a chronic shortage of suppliers who precisely offer a range of diversified products,” he states.
“In short, you need to start an activity locally to create the market!"
