Small and medium-sized companies in the cosmetics industry are advancing in the international market, increasing profitability and helping to dodge the competition of major brands and the decrease in sales.
The Brazilian market for personal hygiene, perfumery and cosmetics has been booming and has grown more than the country's economy in recent years. In 2017, the segment earned 102 million reais, up 3.2% and the expectation for 2018 is up 3.8%.
Even during crises people continue to invest in cosmetics, since the cost is relatively low for a lipstick, in addition to raising self-esteem. When life is harder, people want to increase self-esteem, they want products that require little investment but impact their well-being.
According to an IBGE study, the Brazilian spends more with beauty than food. The beauty sector grows on average 11% per year.
The Brazilian Association of the Personal Hygiene, Perfumery and Cosmetics Industry says that the sector is also doing well in foreign trade. In the last 16 years, revenues from this sector increased from R $ 4.9 billion to R $ 29.4 billion.
In 2019, the outlook is of growth, supported by a more positive economic scenario. According to Euromonitor International, by 2022 Latin America will present great opportunities for premium beauty, with growth expected at an average rate of 4% per year.