Guatemala: Market for Beauty, Make-Up And Skin Care Preparations 2024

Market Size for Beauty, Make-Up And Skin Care Preparations in Guatemala

For the third consecutive year, the Guatemalan market for beauty, make-up and skin care preparations recorded growth in sales value, which increased by X% to $X in 2023. In general, consumption showed a resilient expansion. Consumption of peaked in 2023 and is expected to retain growth in the immediate term.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports from Guatemala

In 2023, overseas shipments of beauty, make-up and skin care preparations increased by X% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports of reached the peak figure at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of beauty, make-up and skin care preparations rose markedly to $X in 2023. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

El Salvador (X tons), Nicaragua (X tons) and Honduras (X tons) were the main destinations of exports of beauty, make-up and skin care preparations from Guatemala, together accounting for X% of total exports. The Dominican Republic, Panama, Costa Rica and Peru lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for beauty, make-up and skin care preparations exported from Guatemala were Honduras ($X), Nicaragua ($X) and El Salvador ($X), with a combined X% share of total exports. The Dominican Republic, Panama, Costa Rica and Peru lagged somewhat behind, together comprising a further X%.

The Dominican Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for beauty, make-up and skin care preparations stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Beauty, Make-Up And Skin Care Preparations

Imports into Guatemala

In 2023, supplies from abroad of beauty, make-up and skin care preparations increased by X% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in the immediate term.

In value terms, imports of beauty, make-up and skin care preparations soared to $X in 2023. Overall, total imports indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Mexico (X tons) constituted the largest supplier of beauty, make-up and skin care preparations to Guatemala, with a X% share of total imports. Moreover, imports of beauty, make-up and skin care preparations from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Colombia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Colombia (X% per year).

In value terms, the largest beauty, make-up and skin care preparations suppliers to Guatemala were Mexico ($X), the United States ($X) and Colombia ($X), together comprising X% of total imports. Spain, China, Poland, Germany and El Salvador lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average import price for beauty, make-up and skin care preparations amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, import price for beauty, make-up and skin care preparations increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, average import prices attained the peak figure in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform