What products do Mexicans spend the most on?

Despite Mexico's economic slowdown, sales of personal care items, sun protection, and cosmetics are growing at a faster pace. , especially the fragrance category, said the executive president of the National Chamber of the Cosmetic Products Industry (Canipec), Carlos Berzunza Sánchez.

The Mexican market reached sales of 425 billion pesos in 2024, "which places us as the second-largest market in Latin America, behind only Brazil."

Fragrances saw 10% growth last year compared to the previous year, and this category "has surpassed pre-pandemic levels by 2023 and is back on the road to recovery," he said.

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Other major categories that are posting positive growth are personal care (8.7%) and hair and skin care (7%).

Additionally, the sunscreen category also grew by 7%, which is a significant increase because "in that category, we have low per capita consumption; Mexico consumed less than half of that amount in milliliters per capita," he explained.

One of the categories that saw the least growth was home care, at 1.3%, with "dishwashing liquids growing 4.1% faster than the category," he said.

The difference between personal care and home care has to do with several reasons, including the fact that "we have habits that limit the growth of the sector. Many products are taught to us by our mothers."

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He added that "personal care is also growing because it's harder to foster innovation in home care; suddenly, the industry is offering innovative products." but they are not bought as much due to the habits of Mexicans.

Berzunza Sánchez said that in general, "this industry pulls GDP upwards. We're growing more than the economy. Forecasts for the Mexican economy have been cut. Growth, or overall growth expectations, are becoming increasingly limited. However, in the industry, we expect the more limited trends to continue. We don't see any growth stopping until around 2024."

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MV

• products
• Mexican Economy
• National Chamber of the Cosmetic Products Industry