The market of cosmetics and personal hygiene will exceed S/9,300 million this year, which will mean a growth of 6% compared to 2023, revealed the Peruvian Guild of Cosmetics, Personal Hygiene and Domestic Cleaning (Copecoh) of the Lima Chamber of Commerce (CCL).
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By 2025, the figure is expected to reach S/9.8 billion. In this regard, the president of Copecoh, Ángel Acevedo, stated that growth will be driven by the dynamism of the modern channel, which includes pharmacy chains and specialized stores, which represent 15% of the sector’s sales.
Direct sales, driven by multinationals such as Belcorp, Yanbal and Natura, dominate the fragrance segment, while retail, where important companies such as Unilever, L’Oreal, Recamier, Corporación Life and Henkel are located, lead the marketing of hair products.
Similarly, the presenter of the CCL He stressed that over the past 16 years, the industry has maintained a compound year-on-year growth of 5%, which demonstrates its strength.
He also stressed that the sector continues to attract new companies, with an average of 100 businesses per year. So far this year, 40 companies have entered the sector, of which 15 are from China.
On the other hand, according to Copecoh data, despite health regulatory impediments, the industry continues to innovate. In the first half of 2024 alone, the sector introduced 450 new products. The facial treatment category leads in launches with a 30% share, followed by hair and makeup.
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