Key regions: Germany, Europe, South Korea, France, China
The Skin Treatment (Pharmacies) market in South America is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Customers in South America are increasingly prioritizing skincare and are willing to invest in high-quality skin treatment products. This shift in preference can be attributed to a growing awareness of the importance of skincare and the desire to maintain a youthful appearance. Additionally, the influence of social media and beauty influencers has played a significant role in shaping customer preferences, as consumers are constantly exposed to new skincare trends and products.
Trends in the market: One notable trend in the South American Skin Treatment (Pharmacies) market is the increasing demand for natural and organic skincare products. Customers are becoming more conscious of the ingredients used in skincare products and are seeking out products that are free from harmful chemicals. This trend aligns with the global movement towards clean beauty, where consumers prioritize products that are sustainable, environmentally friendly, and ethically sourced. Another trend in the market is the rise of multi-functional skincare products. Customers are looking for products that offer multiple benefits, such as moisturizing, anti-aging, and sun protection. This trend can be attributed to the busy lifestyles of South American consumers, who seek convenience and efficiency in their skincare routines.
Local special circumstances: South America is a diverse region with varying climates and environmental conditions. This diversity has led to a demand for specialized skincare products that cater to specific skin concerns. For example, customers in tropical regions may require products that offer oil control and sun protection, while those in colder climates may seek products that provide intense hydration and protection against harsh weather conditions. Additionally, the South American market is characterized by a strong preference for locally-produced products. Customers in the region value authenticity and are more likely to trust and purchase products that are made in their own country or region. This preference for local products presents an opportunity for domestic skincare brands to thrive in the market.
Underlying macroeconomic factors: The growing middle class in South America has contributed to the expansion of the Skin Treatment (Pharmacies) market. As disposable incomes increase, customers have more purchasing power to invest in skincare products. Additionally, the rising urbanization and changing lifestyles in the region have led to an increased focus on personal grooming and appearance, further driving the demand for skin treatment products. Furthermore, the COVID-19 pandemic has had a significant impact on the South American skincare market. With the increased emphasis on hygiene and self-care, customers have become more conscious of their skincare routines and are seeking products that offer protection and nourishment for their skin. This has led to a surge in demand for skincare products, including skin treatments, in pharmacies across the region. In conclusion, the Skin Treatment (Pharmacies) market in South America is witnessing growth due to changing customer preferences, emerging trends, and local special circumstances. Customers are prioritizing skincare, seeking natural and multi-functional products, and valuing locally-produced brands. The growing middle class, urbanization, and the impact of the COVID-19 pandemic are also contributing to the expansion of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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