Beauty isn’t just big business in Brazil — it’s HUGE! With a value of $28 billion by sales volume, Brazil’s beauty market is now the third largest on the planet (behind the U.S. and Japan), and despite a sluggish global economy it’s also one of the world’s fastest growing, at a 14% compounded rate from 2004-2009.
When Rio beat out a long list of famous cities to host the 2016 Olympic Games, it came as a shock to many, but Brazil, a country of 192 million, has been making strides for decades, capitalizing on vast natural resources and one of the world’s most favorable climates for agribusiness.
Brazil’s beauty industry isn’t just big because of the country’s size, either. It’s a multi-faceted industry, both internally with sales to Brazilians (their deodorants sector is the largest in the world; also top 5 in hair care products, toiletries and oral care) and externally through beauty industry exports, which now exceed $600 million per year. Demand for natural products and exotic plants (Brazil is home to 250,000 native botanical species) have led most of the world’s largest cosmetics companies to Brazil for ingredients like maracujá (passion fruit), açaÃ, acerola, mango and castanha do pará (Brazil Nut).
[Continue reading…]
