Colombia

Overview

• The FocusEconomic panelists report that GDP should grow by 2.6% in 2018 and by 3.0% in 2019
• Colombia’s population is concentrated within the 25-54 year age group, which represents approximately 42% of the total population
• Colombia’s three main cities account for approximately 25% of the total population
• Colombia ranks 59^th out of 190 countries in the 2018 doing business report¹

Source: Doing Business Report (2018)

Colombia – Cosmetics Market

Overview

• Euromonitor analysts indicate that beauty and personal care sales will increase from 3.1 bn in 2016 to 3.3 bn in 2021

• The $60.98bn color cosmetics market is one of the world’s brightest beauty categories, rising by 7% value growth in 2016. 

• The current market only has a few completely natural products with some minimalistic branding, which makes it a great base for international brands penetration to satisfy this gap

Source: Euromonitor International 2016