Growth of Nail Product Market Segment Predicted to Drive the Cosmetics Market in Brazil Through 2019, Says Technavio

Guía de Regalos

LONDON–(BUSINESS WIRE)–According to the latest research report released by Technavio,
the cosmetics market in Brazil is expected to reach over to USD 6.4
billion by 2019.

This report titled ‘Cosmetics
Market in Brazil 2015-2019
‘, provides an in-depth analysis of
the market in terms of revenue and emerging trends. This market study
also presents up to date analysis and forecasts for its various market
segments, including eye make-up, facial make-up, lip products, and nail
products.

Request sample report: http://bit.ly/1oOs2PS

“The nail products segment dominates the cosmetics market in Brazil and
is growing at a faster pace compared to the other segments. The nail
products segment includes, nail polish, nail treatment or strengtheners,
polish remover, and other nail products such as nail cream, nail gel,
and nail oil. The market is driven by the introduction of new products
such as special effect polishes and the rise of new entrants such as
Studio 35 and Koloss,” said Arushi Thakur, one of Technavio’s lead
industry analysts for cosmetics
and toiletry
research.

Some of the other driving forces behind the growth of the cosmetic
market in Brazil are as follows:

  • Increase in number of working women
  • High demand for natural and organic products
  • Increase in marketing and promotions

Increase in number of working women

Participation of women in Brazil’s workforce has increased substantially
in the past decade, and as a result, they have grown financially
independent with regards to spending and decision-making on household
product consumption. Therefore, Brazilian women are spending more on
cosmetics, and as a result, demanding high-quality and premium products
thanks to their high purchasing power.

The need to look fresh and presentable in the workplace is one of the
key reasons for the increase in expenditure on cosmetics by working
women. The per capita consumption of cosmetics by women has therefore
risen, resulting in increased revenue for vendors in the cosmetics
market in Brazil.

High demand for natural and organic products

The demand for natural ingredients in cosmetics is gaining rapid
popularity in Brazil. It is estimated that eight out of ten users of
skin care products in Brazil prefer products comprised of natural
ingredients. Consumers are now aware of problems caused by synthetic
products and are more vocal about their desire to use natural and
organic products that are free from harmful toxins or parabens.

To look after the environment and their wellbeing, consumers are thus
refraining from the use of cosmetics that contain traces of pesticides,
growth hormones, preservatives, additives, and artificial colors. To
capitalize on this trend, brands such as Avon Naturals, Oriflame,
Natura, and Ecobeauty are offering products with natural and organic
ingredients. Companies are also undertaking marketing strategies for
popularizing the use of aloe vera and other natural ingredients in
cosmetics. Local vendors such as OCA Brazil are offering natural
cosmetics such as natural cosmetic butter, natural fragrance oil, and
natural and pure oils, and the market is anticipating the launch of many
more novel products over the forecast period.

Increase in marketing and promotions

The cosmetics market in Brazil is intensely competitive with most
manufacturers investing significantly on marketing and promotion of
their products. To that end, vendors are constantly poaching on the
consumer base of their rival brand. To achieve their goals, most
companies are therefore roping in famous models, artists, sportspersons,
and actors as brand ambassadors for influencing consumers. For instance,
O Boticário Make B. Barroco tropical eye shadow trio is endorsed and
designed by stylist Ronado Fraga and make-up artist Fernando Torquatto.
Models, such as Thairine Garcia, Lais Ribeiro, and Flavia Lucini endorse
O Boticário’s Make B. collection.

Manufacturers are also offering innovative products in terms of
attractive packaging and eye-catching campaigns. For instance, a
campaign initiated by the OPI’s Brazil color collection and ADIDAS get
ready body collection, celebrated the FIFA world cup in 2014 in Brazil
through innovative packaging that drew enormous attention. Similarly,
Natura relaunched its Aquarela range of products with attractive new
packaging and changes in the product mix to attract more customers.
These trends will continue to expand the market while attracting many
new entrants into the market during the forecast period.

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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