The Cosmetics and Personal Care Market in Peru: Perspectives and Trends towards 2025
By SCR Consulting
Fiorella De la Cruz Huamán, Consultant & Comercial and Marketing Head of SCR Consulting
At the end of August, SCR Consulting had the privilege of attending, as an associate,
the presentation of the Commercial Intelligence Study conducted by the “Gremio de
Cosmética e Higiene Personal” (COPECOH) of the Lima Chamber of Commerce (CCL).
This presentation, led by the president of COPECOH, Mr. Ángel Acevedo, provided a
detailed perspective of the current behavior and future expectations in the cosmetics
and personal care sector.
Performance and Expectations
It was shared that sales in the sector are projected to exceed S/. 4,512 million in the
second half of 2023, marking a 7% growth compared to the same period of the
previous year. These positive figures are mainly attributed to segments such as facial
care, fragrances, makeup, hair care, personal hygiene and body treatments.
However, a potential slowdown was noted, from 8.4% in the first half to a projected
7% for the second half of 2023, attributed to factors such as the El Niño phenomenon
and certain macroeconomic challenges.
Trends and Relevant Data
Fragrances have shown a remarkable recovery this year, with sales reaching pre-
pandemic figures. On the other hand, makeup still struggles to reach its 2019 levels,
although there is hope for recovery in the coming months.
A trend highlighted by the President of COPECOH is the growing demand in the facial
treatment segment, largely driven by innovation in skincare products. Imports from
South Korea in this category have increased by 77% in 2022, reflecting global
influence on local preferences.
For the full year 2023, three potential growth scenarios compared to 2022 were
considered: an optimistic 12%, a realistic 7%, and a conservative 3%.
Rosa Bueno de Lercari, President of the CCL, emphasized the sector’s contribution to
the Peruvian economy. More than 700,000 people are linked, either directly or
indirectly, to this industry, a significant figure in times of economic challenges.
Sales Channels and Semiannual Performance
Data for the first half of 2023 show that the sector grew by 8.4%, with sales
amounting to S/ 4,131 million. According to Ángel Acevedo, this growth is more due
to price adjustments than an increase in units sold.
Regarding sales channels, retail led with 54%, followed by direct sales at 45%.
Compared to the first half of 2022, both channels recorded increases of 7.5% and
9.8%, respectively. E-commerce, although with a lower participation rate of 7%,
shows a diversified origin of sales.To conclude, a surprising statistic: the sector distributes more than 450 million units
annually, which is equivalent to 1.2 million units daily. This figure not only highlights
the magnitude of the market but also underscores the vital role that the cosmetics
and personal care sector plays in the daily lives of Peruvians.
The panorama presented by COPECOH reflects a resilient sector, with areas of rapid
growth and clear opportunities for innovation and adaptation. It is a sector that
undoubtedly has a promising future in Peru.