Market Insights Consumer Beauty & Personal Care

Cosmetics - Mexico

Mexico

In 2024, the revenue in the Cosmetics market in Mexico is projected to reach US$1.68bn.
According to forecasts, the market is expected to grow at an annual rate of 4.06% (CAGR 2024-2029).
It is worth noting that in a global comparison, in the United States generates the highest revenue in the Cosmetics market, with an estimated figure of US$20,130m in 2024.
To put the revenue into perspective, in 2024, per person revenues in Mexico's Cosmetics market amount to US$13.00.
This indicates the average amount of revenue generated per individual in relation to the total population figures.
Furthermore, by 2024, approximately 75% of the sales in the Cosmetics market can be attributed to Non-Luxury.
This signifies the proportion of sales that are generated by products that are not considered luxury items.
Mexico's cosmetics market is witnessing a surge in demand for natural and organic products, driven by increasing consumer awareness of sustainability and environmental concerns.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.