Latin America Makeup Market Report and Forecast 2025-2034

Latin America Makeup Market Outlook

The Latin America makeup market size was valued at USD 3.41 billion in 2024. The market is further projected to grow at a CAGR of 5.5% between 2025 and 2034, reaching a value of USD 5.53 billion by 2034.

Key Takeaways

• Latin shoppers make up approximately 14.1% of select beauty consumers. Interestingly, they account for 18.5% of select beauty spending. 

• According to Mintel, Latinx women alone spent more than USD 2 billion on makeup products in 2019, accounting for 18 percent of total spend.

• As per industry reports, key players in the market are L’Oréal S.A., Shiseido Co. Ltd., Estee Lauder Companies Inc., HB USA Holdings, Inc., Chanel Limited, and Natura & Co.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

The market is growing due to the rising demand for multifunctional cosmetic products and increasing consumer awareness of the benefits of vegan and naturally sourced ingredients. Additionally, the focus of market players in the market is on various factors such as the region's historically young population profile, which is beginning to transition to mid-age, the increased purchasing power, and high need for makeup by this target. The continued shift of women into the workforce and the growing popularity of using makeup products of vivid tones and inclusive shade ranges among Brazilians are also driving the Latin America makeup market growth.

Latin Americans' growing popularity of vitamin-enriched nail care products and facial foundations to get added self-care is also contributing to the market growth. The market is also witnessing a growing number of men consumers using cosmetics made of naturally sourced ingredients and the growing popularity of beauty fashion shows.

Furthermore, social media influencers are playing a significant role in raising brand credibility and generating trial for new products, and digital tools where consumers can try makeup products safely and try out different looks are increasing the Latin America makeup market share. Moreover, the increasing adoption of e-commerce has led to a surge in online sales of cosmetics and personal care products.

The demand for powder, gel, and lotion-based products is driven by the need for a matte finish, lightweight, natural finish, and ease of application. In-Cosmetics Latin America, a leading trade show for the personal care industry, showcased several new powder products in 2018, including a neck and décolleté lotion featuring Megassane, a skin tone highlighter and Neurophroline, an overall skin stress control. In addition, Beraca presented Tucumã butter, a natural, efficient alternative to silicones in skin care formulations, demonstrating the growing demand for organic ingredients in lotion-based products.

Market Segmentation

Latin America Makeup Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Powders 

• Gels 

• Lotions 

• Others

Market Breakup by Application Area

• Face

• Lips

• Eyes

• Nails

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Specialty Stores

• Online

• Others

Market Breakup by Country

• Brazil

• Mexico

• Argentina

• Others

Competitive Landscape

Market players are focused on providing premium quality of makeup for all age and demographics to stay ahead in the competition.

• L’Oréal S.A. 

• Shiseido Co. Ltd. 

• Estee Lauder Companies Inc. 

• HB USA Holdings, Inc.  

• Chanel Limited 

• Natura &Co. 

• Mary Kay Inc. 

• Oriflame Cosmetics SA  

• Revlon, Inc. 

• Groupe Clarins

• Others

Key Highlights of the Report