Market Insights Consumer Beauty & Personal Care

Cosmetics - Colombia

Colombia

In 2024, the Cosmetics market in Colombia is projected to generate revenue of US$453.70m.
It is anticipated that the market will experience an annual growth rate of 6.91% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, with an estimated figure of US$20,130m in 2024.
Taking into account the total population, per person revenues in Colombia are expected to reach US$8.67 in 2024.
Additionally, it is forecasted that 84% of sales in the Cosmetics market will be attributed to Non-Luxury by 2024.
Colombia's cosmetics market is experiencing a surge in demand for organic and natural products, reflecting a growing consumer preference for sustainable and eco-friendly options.

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.