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A review of the Latin American markets

SpecialChem / Imogen Matthews – Oct 13, 2010

Brazil leads the Latin American economy and is the third largest beauty and personal care market globally. Fragrance is one of the fastest growing sectors in Brazil, according to Euromonitor. ABIHPEC have recorded strong exports of beauty products, with three quarters destined for other South American markets.Mexico is suffered more from the economic downturn than Brazil. The largest sectors are haircare and fragrances. Skincare is a strong performer with growth in anti-ageing, whitening, firming and anti-cellulite products.Venezuela is an emerging market, according to Euromonitor, with strong value growth recorded across every category of beauty and personal care in 2009. Haircare and skincare are the largest sectors in the Venezuelan beauty market. Direct selling brands and multinational brands do well in Venezuela. Euromonitor predicts strong growth for the Venezuelan beauty and personal care market by 2014. Latin America is an important emerging region, which has been far less affected by the economic downturn than the rest of the world. In fact, according to the International Monetary Fund {IMF}, recent growth in the region is driving global recovery...

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