The global makeupmarket is likely to gain impetus from the increasing awareness programsregarding the usage of synthetic and toxic chemicals in cosmetics and theirhazardous effects on skin. Thus, consumers are rapidly inclining towards naturalproducts that are safer to use. Numerous manufacturers are investing huge sumsin research and development activities to create products infused withbotanical or herbal extracts. FortuneBusiness Insights™provided this information in a recently published report,titled, “Makeup Market Size, Share &Industry Analysis, By Products (Powder, Gels, Lotions, and Others), ByApplication Area (Lips, Eyes, Face, and Others), By Distribution Channel(Supermarkets/Hypermarkets, Exclusive Brand Stores, Online/e-commerce Channels,and Others) and Regional Forecast, 2019-2026.” The report further mentionsthat the makeup market size stood at USD43.82 billion in 2018.It is projected to reach USD 63.73 billion by 2026, thereby exhibiting a CAGR of 4.9% duringthe forecast period.
Which Questions Do This Report Answer?
· How manysegments does this market possess?
· What arethe makeup market trends, growth drivers, and hindrances?
· Whichregion is expected to remain dominant in the near future?
· How manycompanies would remain on top in terms of revenue?
· Which aresome of the challenges and opportunities that the market is likely to comeacross during the forecast period?
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https://www.fortunebusinessinsights.com/makeup-market-102587
Drivers & Restraints-
Increasing Demand from Collegians & Working Women to Drive Growth
In today’s technology-driven worldwhere almost every person is glued to a number of social media platforms, theadoption of makeup products is increasing at a fast pace. This growth isattributable to their capability to change the appearance of a person’s face,skin, and body. According to one of our lead analysts, “Working women andcollegians are the main consumers of these products as they utilize cosmeticsextensively in their everyday lives to look presentable and elegant.”Also, theavailability of a wide range of products as per a consumer’s skin tone is setto propel the makeup market growth in the coming years. They possess theability of hiding scars, dark circle, discoloration on neck or face, as well ascovering up acne. However, too much usage of makeup products can result inadverse effects, such as intoxication, redness, and allergies. It may hindermarket growth.
Segment-
Property of Being User-friendly to Favor Growth of Powder Segment
In terms of products, the market issegregatedinto lotions, gels, powders, and others. Out of these, the powderssegment is anticipated to lead by holding the maximum makeup products marketshare during the forthcoming years. It would occur because of the rising usageof cosmetics, such as eyeshadow palette, blush, and foundation. These areavailable only in powdered form. The demand for powder is also upsurging asthey provide natural, lightweight, and clear look. They are suitable for allskin types and are hence, user-friendly.
Regional Analysis-
North America to Dominate Backed by Rising Number of Beauty Salons
Geographically, the market isfragmented into Asia Pacific, North America, the Middle East and Africa,Europe, and Latin America. Amongst these, in 2018, North America procured USD 9.76billion makeup market revenue. It would exhibit significant growth in thecoming years on account of the availability of better infrastructure to developinnovative products, rising number of beauty salons, and high purchasing powerof the masses.
Asia Pacific, on the other hand, isexpected to generate considerable revenue in the coming years because of the risingdemand for makeup products from the emerging nations, such as India, Japan,Korea, and China. Additionally, increasing number of working-class population, risingdisposable income, and rapid globalization would contribute to market growth.
Competitive Landscape-
Key Players Adopt the Strategy of Acquisition to Strengthen theirPosition
The market consists of several companiesthat are striving persistently to launch new products in order to cater to therising needs of the consumers. They are alsoengaging in the strategy of acquisitionsto expand their geographical presence. Below are a couple of the key industrydevelopments:
· August 2018: L’Oréal, a personal care companyheadquartered in France, successfully acquired Logocos Naturkosmetik AG, aprovider of natural cosmetics based in Germany. This acquisition would enablethe former in surging the sales of Logocosin the international market.
· September 2018: Shiseido Company, Limited, amultinational personal care company based in Japan, introduced its latest rangeof makeup products globally. This new collection consists of 21 products and124 shades. It will be available under the SHISEIDO brand. The packaging of theproducts is based on modern Japanese culture. These include powders, inks,shimmering dews, and gels.
Fortune Business Insights™ presentsa list of all the companies operating in the makeup products market. They areas follows:
· EstéeLauder Inc.
· Unilever
· L’OréalProfessional
· Revlon,Inc.
· Coty Inc.
· The Procter& Gamble Company
· AvonProducts Inc.
· ShiseidoCo., Ltd.
· KaoCorporation
· Other keymarket players
