Business Opportunities for Malaysian Exporters in Brazilian Beauty Market
THURSDAY, OCTOBER 2, 2014, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) is encouraging Malaysian exporters to look into the Brazilian beauty market for business opportunities as the Brazilian Cosmetic, Toiletry and Fragrance Association (ABIHPEC) recently has announced that by 2020, Brazil will become the second largest market in the world.
Brazil is now the world's third largest cosmetic and beauty care products market in the world after the USA and Japan, which also includes green cosmetics, with total demand growing more than 10 per cent since 2012. Among the high demand products include hair care, men’s and children’s products, cosmetics and skin care products.
According to Trade Commissioner of MATRADE Sao Paulo, Mr. Yusram Yusup, “There is also a growing demand for green cosmetic products as people become more aware of their surroundings and usage of chemicals in everyday products. Besides supplying finished cosmetics and toiletry products, other opportunities for Malaysian exporters to tap into this market are by distributing the green and eco-friendly raw materials to the local cosmetic and toiletries manufacturers.â€
“Malaysian companies should also consider appointing a representative or distributor in Brazil due to language barriers and different business culture. It is advisable for Malaysian exporters to conduct a market research before securing an agent, representative or distributor in the market,†he added.
In 2013, the total market size for cosmetics in Brazil was valued at RM45 billion with imported cosmetics & toiletries accounting for 8.1% of the domestic consumption, according the Brazilian Association of Personal Hygiene, Perfumery and Cosmetics (ABIHPEC). Among the high demand products include perfumes, cosmetics, skin care and bath products. Malaysian companies can contact MATRADE Sao Paulo to obtain further information on doing business in Brazil.
