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Cosmetics Design has now launched a dedicated tab for its Latin American coverage that includes newsletter and alert subscriptions, highlighting the fact that we are now focusing on news and analysis for this vast and increasingly important market.
Moving forward, we aim to grow the coverage into the go-to for cosmetics and personal care professionals in the region.
Our team is currently co-ordinating a series of e-shots to promote the new coverage to our subscriber base and the image above highlights the simple procedure to subscribe to all the dedicated Latin coverage, ensuring that it lands in your inbox the minute it is published.
All you have to do is click on this link and following the instructions.
And if you are an existing subscriber to the Cosmetics Design newsletters and alerts, you now have the option to add the Latin American content to your subscription. The easiest way to do this is to click on the link at the bottom of your most recent alert or newsletter email.
Bringing you all the latest LATAM industry news and analysis
Our team of dedicated journalists will be bringing you all the latest news about suppliers in both the packaging and formulation arenas, leading market trends and brand innovation, regulations and safety, together with business and financial matters.
Growth in the Latin American industry has been significant in recent years, with markets such as Mexico, Brazil, Chile and Colombia leading the way in developing packaging, formulation and products that are designed around the specific needs of Latin American consumers.
Our newly extended coverage of the region will be focusing on all the big moves from the industry, with a particular focus on what the big players are doing there, while explaining how regulations, consumer trends and the economy are all impacting those moves.
LATAM businesses seizing the opportunities
Brazil is by far the biggest market in the region, and by design Sao Paulo has evolved as the manufacturing nerve center for both domestic, regional and international players.
On the brand side, names Brazilian players such as Natura and O Boticário have expanded their footprint into the global cosmetics and personal care markets, while sizeable formulation and ingredients players such as Beraca and Chemyunion have evolved into serious regional and international businesses.
Likewise, in Colombia, significant efforts are being made by government and private industry bodies to grow the cosmetics and personal care sector, both domestically and internationally, while in Mexico, the growth of the industry continues apace, feeding into the huge and still expanding domestic market, as well as supply opportunities in the North American market.
International players eye a slice of the pie
On the other side of the coin, international brands and suppliers are also continuing to eye opportunities to expand in the region, hoping to tap into increased consumer spend in many of the countries where the retail landscape has fast evolved to offer a hugely expanded range or cosmetics and personal care products.
Some of the biggest international players, including L'Oréal, Unilever, P&G, Beiersdorf and Avon Products, have come to dominate much of the retail landscapes all over Latin America, while O Boticário and Natura fly the flag for Brazil throughout the region.
International players have had to adapt their strategies according to the specific consumer needs in the region, which are dictated by ethnicity, culture and climate, but the fragrance, body care and hair care segments continue to shine, regardless.
Challenges and opportunities
Over the years Cosmetics Design has also focused on the challenges in the region, which are often the same set of obstacles international businesses come up against all over the world.
Regulation can be particularly difficult for international businesses wanting to enter different markets in the region, with rules varying greatly from country to country, and often put in place to protect the existing domestic industry.
Add to this the fact that political and socio-economic volatility throughout the region can also hamper business development, with economic cycles often characterized by sharp ups and down.
This was highlighted by the recent economic downturn in Brazil during 2015 – 2017, when economic growth plummeted and consumer spend bottomed out, affecting many business sectors, including cosmetics and personal care players.
But ultimately the picture looks strong. Leading market research analysts are forecasting annual growth in the region of CAR 5 – 7 % over the next five years, so clearly there is plenty of opportunity for players acting on the right strategy.