Hispanic Consumers To Play Bigger Role In Beauty And Personal Care Markets, Report Says

The Hispanic market for beauty care products grew 7.4 percent in 2014, compared with 2013, according to market research firm Nielsen. Data from the company's “Beauty Care and Hispanics” report revealed Hispanic beauty buyers spend more than the general population in half of the top 20 product categories. Beauty marketers cannot ignore Hispanic consumers, according to Nielsen SVP and GM for multicultural growth and strategy, Monica Gil. Hispanics are forecast to grow from 17 percent of the total population in 2013 to 29 percent in 2060. By 2020, Hispanics will account for more than half of population growth in the country, and almost 85 percent by 2050.