Expert comments on the projection for 2023 after three years of growth and the reasons for Brazil to be able to expand the sector.
Brazil grows for the third year and has become a reference in aesthetic procedures in the world. According to the Personal Hygiene, Perfumery and Cosmetics sector (HPPC), the international trade of Brazilian products has been expanding and showing that there is quality in national production and its importance for the economy. This increase reinforces the Brazilian presence in the international market, which opens up opportunities for companies focused on beauty and well-being.
According to ABIHPEC (Brazilian Association of the Personal Hygiene, Perfumery and Cosmetics Industry), between January and September of last year, the category grew about 13.5%, compared to the same period of the previous year. Still according to the entity, in this period, revenues earned US$ 128 million, destined for 117 countries. In the Americas, the main destinations were Argentina (US$ 47.39 million), United States (US$ 16.84 million) and Colombia (US$ 9 million).
According to the ABF (Brazilian Franchise Association), beauty chains lead the ranking of the fastest growing market in Brazil for the third consecutive year, and have been successful in other countries. In the franchising business, in the area of Health, Beauty and Wellness, approximately R$ 34.2 billion was earned, placing Brazil as the largest market for aesthetics and beauty in Latin America, and the fourth in the world, behind only of the United States, China and Japan.
The effects of the pandemic on the sector and international success
According to ApexBrasil (Brazilian Trade and Investment Promotion Agency), Brazilian products from the HPPC sector stand out in the international market due to several factors, especially sustainable production and the association of branding with the country’s fauna and flora, mainly the Amazon .
For Dr. Patrícia Leite Nogueira, plastic surgeon, the Brazilian market is anti-crisis. “It is a market that had a very negligible decrease during the pandemic period, in which all sectors decreased and people stopped spending on products and services typical of a normal social movement”.
According to the plastic surgeon, people with greater purchasing power saved their expenses during the pandemic period, and this made a series of dreams possible, such as buying a luxury watch, having a medical procedure, deciding to buy a property or not. “It is a market that continues to rise regardless of the various economic, social and political crises we are going through. So it’s a pulsating market”, he adds.
Growth perspective for 2023
According to the Ministry of Tourism, aesthetic tourism is gaining more and more strength in recent years. The practice could become law in Brazil to attract foreign investment, with the possibility of injecting up to R$ 15 billion into the economy. Market growth, the massive entry of new products and inputs into the Brazilian market, mainly from Asia, are highlights. Brazil is standing out in Latin America, which is being considered the world center for aesthetics, beauty and procedures.
According to an estimate by the SBCP (Brazilian Society of Plastic Surgery), Brazil performs about 1.5 million plastic surgeries per year. 57% of these procedures are aesthetic, while 43% are repairing. Of this total, around 7% are held in foreign countries. The expectation is for growth of 35% over the next five years.
Globally, according to a publication by Patients Beyond Borders, the current market is between US$65 and US$87.5 billion. In Brazil, there are approximately 24 million patients, who spend an average of US$ 3,400 per visit to the country, including medical costs, local services, transport, hospitalization, accommodation and aesthetic treatments. Prices can be between 20% and 30% lower than in countries like the United States.
