Published
Jan 11, 2016
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Increases in employed women to spur growth in cosmetics market in Brazil

Published
Jan 11, 2016

According to a recent report by Technavio, as numbers of Brazilian women in the workforce increase, the cosmetics market in Brazil will grow at a Compound Annual Growth Rate (CAGR) of 11% from 2015-2019. This growth is attributed to the need for employed women to buy cosmetics to help them look professional. Per the report, women in Brazil have also become increasingly savvy about cosmetics and designer beauty products, which are perceived as an affordable luxury.
 

Technavio - © Technavio


Technavio analyzed spending on nail products, eye makeup, facial makeup, lip products. In 2014, nail products dominated sales with a market share of 29%. The report also distinguishes between retail formats: traditional distribution, franchise or direct sales. Traditional distribution channels, which include supermarkets, specialty stores, beauty shops, pharmacies and department stores, eclipsed the other formats and accounted for 64% of the market share in 2014.

Technavio, founded in 2003 and headquartered in London, is an international market research company. They report on emerging market trends to keep businesses informed about potential opportunities and help them develop strategies for market positioning.

 

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