Mexico Makeup Market Report and Forecast 2025-2034

Mexico Makeup Market Outlook

The Mexico makeup market size reached USD 1.60 billion in 2023. The market is projected to grow at a CAGR of 6.1% between 2024 and 2032, reaching almost USD 2.73 billion by 2032.

Key Takeaways

• Face powders are expected to become increasingly popular in the Mexico makeup market.

• Increasing investments in formulating skin-friendly makeup are expected to accelerate the market growth.

• Baja California is expected to dominate the demand for makeup over the forecast period.

Online retail stores are expected to constitute a major portion of the Mexico makeup market share in the forecast period. This is because they provide consumers with a wide variety of makeup products and brands with verified customer reviews and product information. Moreover, they provide discount options to frequent buyers and provide flexible terms for product/exchange or return.

Online channels also offer guaranteed refunds if the product is of poor quality and save consumers from the hassle of shopping for makeup in physical stores. Hence, increasing internet accessibility and smartphone penetration rates are expected to accelerate the Mexico makeup market expansion over the forecast period.

Face makeup is becoming increasingly popular in Mexico due to its ability to highlight natural facial features and enhance their beauty. By improving the skin complexion and imparting an even skin tone, face makeup helps individuals enhance their appearance for important occasions such as parties and other social events. This is expected to drive the Mexico makeup market growth.

Moreover, the increasing demand for eye and nail makeup is being driven by rising fashion consciousness among women and the incorporation of natural ingredients in cosmetic products, which reduces the risk of allergies and harmful reactions to the skin. As the market expands, increasing research and development into the makeup composition is expected to attract more consumers and propel the market growth.

Market Segmentation

Mexico Makeup Market Report and Forecast 2024-2032 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

• Lips

• Eyes

• Face

• Nails

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• Speciality Stores

• Online Retail Stores

• Others

Market Breakup by Region

• Baja California

• Northern Mexico

• The Bajío

• Central Mexico

• Pacific Coast

• Yucatan Peninsula

The key Mexico makeup market players are L’Oréal S.A., Shiseido Co. Ltd., Estee Lauder Companies Inc., Procter & Gamble Company, Unilever Plc, Natura &Co., Mary Kay Inc., Oriflame Cosmetics SA, Revlon, Inc., and elf Beauty Inc., among others.

Key Highlights of the Report