Colombia Color Cosmetics Market Overview, 2028

The colour cosmetic market in Colombia is a growing industry, driven by a growing middle class. Colombia’s economy has been growing steadily in recent years, and this has resulted in increased disposable income for many consumers, which they are increasingly spending on personal care products. The colour cosmetic industry in Colombia includes a wide range of products, including makeup, nail polish, hair colour, and skincare products, and is supported by a well-developed retail sector. The use of social media is widespread among Colombian consumers, with many using social media platforms like Instagram and Facebook to discover new beauty products and brands. Celebrity endorsement is a popular marketing strategy in the Colombian colour cosmetic market, as it can help to create awareness and generate interest in a brand or product. Many Colombian celebrities, including actors, singers, and social media influencers, are seen as fashion and beauty icons by their fans, and their endorsement can be a powerful tool for brands looking to build brand recognition and trust. According to the research report "Colombia Colour Cosmetic Market Overview, 2028," published by Bonafide Research, The Colombia Color Cosmetic market was valued at more than USD 748 Million in 2022. Colombia's colour cosmetic market is growing due to increasing demand for organic and natural cosmetic products, effective distribution channels, which provide higher availability to consumers, and technological developments such as customised colour cosmetics. Based on the products, segments include face makeup, eye makeup, lip products, nail products, hair colour, and others. In Colombia, face makeup is leading the colour cosmetic market. Face makeup products include foundation, loose powder, concealer, blushers, and others. In Colombia, foundation is the leading face-makeup product. It has the highest share. Colombian consumers prefer a natural-looking finish for their foundation rather than a heavy or cakey appearance. Many foundation products available in Colombia offer lightweight, buildable coverage that can be customised to achieve the desired look. Due to the country's hot and humid atmosphere, Colombian customers favour foundation products with long-lasting formulas because makeup may easily melt or fade in such conditions. In Colombia, several foundation products come in water- or sweat-resistant varieties that can endure the humid environment. Foundations in Colombia can also be used for contouring and highlighting, which adds value to the product and makes it more versatile for consumers.

Based on the report, the lip products include lip sticks, lip gloss, lip pencil/liner, and others. In Colombia the lip stick hold the highest CAGR rate, Consumers in Colombia are increasingly experimenting with bold and bright lipstick colours, such as vibrant pinks, oranges, and reds. These colours are seen as a way to express individuality and add a pop of colour to a makeup look. In Colombia, people purchase lip sticks frequently. During the holiday season, which runs from late November through early January in Colombia, consumers may purchase lipsticks as part of their makeup routine for festive occasions. Consumers may switch up their makeup routine during seasonal transitions, such as from winter to spring or summer to fall, and purchase new lipsticks to match the changing colours and styles. Based on the nail products, these include nail polish; nail removers, nail treatments and Strengtheners, and others nail products. In Colombia, nail polish has the highest market share. Nail art is becoming increasingly popular among Colombian women, with many opting for creative and intricate designs. This trend has resulted in a growing demand for nail polish. Matte nail polish is gaining popularity in Colombia, with many consumers looking for a more understated and sophisticated look. Based on the hair colour, there are segments for permanent and temporary colour. In the Colombian market, the permanent colour accounts for the highest market share. Many Colombian consumers are opting for natural-looking hair colours, such as shades of brown and blonde, that complement their skin tone and features. In the future, temporary hair colour will grow at the highest CAGR rate. In Colombia, the government association responsible for regulating and overseeing the colour cosmetics industry is the National Institute of Food and Drug Surveillance (INVIMA). INVIMA is a government agency that operates under the Ministry of Health and is responsible for ensuring that all cosmetic products sold in the country meet safety and quality standards. INVIMA regulates the production, importation, and distribution of colour cosmetics in Colombia and is responsible for enforcing laws related to product safety, labelling, and advertising. The agency conducts regular inspections of manufacturing facilities, imports, and retail outlets to ensure that products comply with regulations. In addition to INVIMA, there are also several industry associations in Colombia that support the colour cosmetics industry, such as the Colombian Association of the Cosmetics, Personal Care, and Home Care Industry (ACHE) and the Colombian Association of Perfumes and Cosmetics (ACPEC). These associations work to promote the interests of the industry, provide training and education for professionals, and support research and development efforts in the sector. Based on the price range segments, which include the economic and premium price ranges, in Colombia, the economic price range leads the colour cosmetic market. In Colombia, the economic price range for colour cosmetic products can vary depending on the type of product and the brand. Generally, economic or low-cost brands of colour cosmetics can start at around 5,000 Colombian pesos (roughly equivalent to 1-2 US dollars) for items such as nail polish, lipsticks, eyeliners, and face makeup. In the economic price range, brands that provide colour cosmetics are Esika, Belcorp, Cyzone, and Esbelle. In the future, the premium price range will grow at the highest CAGR rate. In Colombia, there are several premium-priced brands that offer colour cosmetics, including MAC, Lancome, Chanel, and Dior.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: Colombia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report

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• Colombia Color Cosmetics with its value and forecast along with its segments • Country-wise Color Cosmetic market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Facial Color Product • Nails Products • Hair Color Products • Lip Products • Eye Makeup Products By Face Make-up • Foundation • Loose Face Powder • Concealers • Blush • Other Facial Products By Nails Products • Nail Polish • Nail Removers • Nail Treatment/ Strengtheners • Other Nail Products (Base coat, Top coat, Nail art stickers) By Hair Color • Permanent • Temporary By Lip Makeup • Lip gloss • Lip Liners/Pencils • Lip Sticks • Other Lip Products (lip primer, lip plumber) By Eye makeup • Eye Liners/Pencils • Eye Shadow • Mascara • False Eyelashes • Other Eye Makeup Products (False Eyelashes, Eye) By Price Range • Mass • Premium By Gender • Men • Women By Distribution Channel • Specialty Store • Brand Outlets • Online Channel • Convenience Stores • Other Stores (salon) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to color cosmetic industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.