COSMETICS AND PERSONAL CARE SECTOR
Colombia has a long history producing and exporting cosmetics and personal care products in the region. The country offers a consolidated market with high levels of consumption and is considered a regional distribution platform, thus making Colombia an ideal foreign investment destination for the cosmetics and personal care sector. Besides, Colombia’s varied business network and wide range of natural ingredients meet the international market’s needs.
WHY INVEST IN THE COSMETICS AND PERSONAL CARE SECTOR?
Colombia’s large domestic market continues to grow
- A large and growing market for cosmetics and personal care products.
- The sector in Colombia has shown a growing trend. Euromonitor International
- Per capita consumption is high compared to other countries in the region.
- Great diversity of ethnicities, ages and hair genotypes in its population. DANE
- The Colombian industry is formed by major companies.
High potential for natural ingredients industry
- Abundant supply of natural ingredients. Cluster Development
- Dynamic natural ingredients production industry.
Colombia is an export platform for the Americas
- Already exporting cosmetics and personal care products regionally.
- Regulatory regime that helps standardization processes in export markets.
- Colombia has many preferential tariffs for exports. Ministry of Trade, Industry and Tourism
Favorable production conditions for ingredients and cosmetics and personal care products
- High quality and cost-efficient human capital.
- Favorable prices for public utilities.
- Colombia’s Free Trade Zones reduce production costs.
- Multiple distribution channels.
- Strategic location and excellent logistical connectivity.
- Private business associations support sector growth. ANDI – Chambers of Commerce
Sector offers multiple business opportunities
- Installation of manufacturing facilities to satisfy local and regional markets.
- Production of white label products to take advantage of available local manufacturing capacity.
- Establishment of research centers for natural ingredients industry.
- Take advantage of regulatory changes to supply cannabis-based products.
- Multinational leading companies have chosen Colombia as an investment destination.
These are the main reasons that make the Colombian cosmetics and personal care sector an excellent investment decision.