Mexico's Beauty Market to Hit US$13 Billion by 2033

In 2024, the Mexican beauty products market was valued at around US$7.7 billion (MX$155 billion). By 2033, projections suggest this figure will grow to US$13.0 billion, representing a compound annual growth rate (CAGR) of 5.6% from 2025 to 2033. Key drivers include growing consumer interest in skincare and beauty trends on social media, increasing demand for natural and organic products, and the rapid expansion of e-commerce platforms.

“This growth is creating new opportunities for Mexican companies to access global markets, particularly in North America, Europe, and Asia,” said Kenia Page, Sales Director, UPS, in an interview with MBN.

The COVID-19 pandemic significantly accelerated e-commerce adoption in the beauty sector. In 2023, online sales of beauty and personal care products in Mexico increased by 32.7%. Notably, half of Mexican consumers preferred to buy beauty products online, with 18% turning to international websites for access to unavailable products or better prices.

Key players in Mexico's beauty e-commerce market have emerged in recent years. In 2023, sephora.com.mx led with US$14.6 million in net e-commerce sales, followed by lancome.com.mx with US$9 million and kiehls.com.mx with US$6.9 million, according to Statista. 

Social media platforms, particularly Instagram and TikTok, are reshaping beauty product marketing through influencer partnerships and live shopping events. A PwC study found that 57% of internet users in Mexico acknowledge social media’s influence on their purchasing decisions. Brands are leveraging these platforms to connect with consumers through influencer campaigns and user-generated content.

“Social media has evolved into a powerful business tool, helping companies strengthen their online presence, enhance brand awareness, and boost revenue,” said Rubén Imán, Founder and CEO, Onest, to MBN.

TikTok's e-commerce platform, TikTok Shop, launched in Mexico, has attracted local brands such as Sarelly and Sinless Beauty. Meanwhile, American brands like KimChi Chic Beauty are expanding into the Mexican market to mitigate risks associated with a potential TikTok ban in the United States and tap into new growth opportunities.

Despite the market’s potential, beauty e-commerce in Mexico faces challenges, including ensuring timely and secure delivery. “E-commerce is more than a sales channel; it is a critical customer touchpoint, and every stage, from warehousing to delivery, directly impacts the consumer experience,” noted Page.