Makeup Market Size, 2019 Industry Share and Global Demand | 2026 Forecast by Fortune Business Insights™
The global makeup
industry share is likely to gain impetus from the increasing
awareness programs regarding the usage of synthetic and toxic chemicals in
cosmetics and their hazardous effects on skin. Thus, consumers are rapidly
inclining towards natural products that are safer to use. Numerous
manufacturers are investing huge sums in research and development activities to
create products infused with botanical or herbal extracts. Fortune
Business Insights™ provided this information in a recently published
report, titled, “Makeup Market Size, Share & Industry Analysis, By
Products (Powder, Gels, Lotions, and Others), By Application 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 mentions that the makeup
market size stood at USD 43.82 billion in 2018. It is
projected to reach USD 63.73 billion by 2026, thereby
exhibiting a CAGR of 4.9% during the forecast period.
An Overview of the Impact of COVID-19 on this Market:
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We understand that this health crisis has brought an unprecedented impact on
businesses across industries. However, this too shall pass. Rising support from
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Overall, almost every sector is anticipated to be impacted by the pandemic.
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Fortune Business Insights™ presents a list of all the companies
operating in the makeup products market. They are as follows:
- Estée Lauder
Inc.
- Unilever
- L’Oréal
Professional
- Revlon, Inc.
- Coty Inc.
- The Procter
& Gamble Company
- Avon Products
Inc.
- Shiseido Co.,
Ltd.
- Kao Corporation
- Other key market
players
Drivers & Restraints-
Increasing Demand from Collegians & Working Women to Drive
Growth
In today’s technology-driven world where almost every person is
glued to a number of social media platforms, the adoption of makeup products is
increasing at a fast pace. This growth is attributable to their capability to
change the appearance of a person’s face, skin, and body. According to one of
our lead analysts, “Working women and collegians are the main consumers of
these products as they utilize cosmetics extensively in their everyday lives to
look presentable and elegant.” Also, the availability of a wide range of
products as per a consumer’s skin tone is set to propel the makeup market
growth in the coming years. They possess the ability of hiding scars, dark
circle, discoloration on neck or face, as well as covering up acne. However,
too much usage of makeup products can result in adverse effects, such as
intoxication, redness, and allergies. It may hinder market growth.
Regional Analysis-
North America to Dominate Backed by Rising Number of Beauty Salons
Geographically, the market is fragmented into Asia Pacific, North
America, the Middle East and Africa, Europe, and Latin America. Amongst these,
in 2018, North America procured USD 9.76 billion makeup market revenue. It
would exhibit significant growth in the coming years on account of the
availability of better infrastructure to develop innovative products, rising
number of beauty salons, and high purchasing power of the masses.
Asia Pacific, on the other hand, is expected to generate
considerable revenue in the coming years because of the rising demand for
makeup products from the emerging nations, such as India, Japan, Korea, and
China. Additionally, increasing number of working-class population, rising
disposable income, and rapid globalization would contribute to market growth.
Competitive Landscape-
Key Players Adopt the Strategy of Acquisition to Strengthen their
Position
The market consists of several companies that are striving
persistently to launch new products in order to cater to the rising needs of
the consumers. They are also engaging in the strategy of acquisitions to expand
their geographical presence.
Segment-
Property of Being User-friendly to Favor Growth of Powder Segment
In terms of products, the market is segregated into lotions, gels,
powders, and others. Out of these, the powders segment is anticipated to lead
by holding the maximum makeup products market share during the forthcoming
years. It would occur because of the rising usage of cosmetics, such as
eyeshadow palette, blush, and foundation. These are available only in powdered
form. The demand for powder is also upsurging as they provide natural,
lightweight, and clear look. They are suitable for all skin types and are
hence, user-friendly.
Which Questions Do This Report Answer?
- How many
segments does this market possess?
- What are the
makeup market trends, growth drivers, and hindrances?
- Which region is
expected to remain dominant in the near future?
- How many
companies would remain on top in terms of revenue?
- Which are some
of the challenges and opportunities that the market is likely to come
across during the forecast period?
Below are a couple of the key industry developments:
- August 2018: L’Oréal, a
personal care company headquartered in France, successfully acquired
Logocos Naturkosmetik AG, a provider of natural cosmetics based in
Germany. This acquisition would enable the former in surging the sales of
Logocos in the international market.
- September 2018: Shiseido
Company, Limited, a multinational personal care company based in Japan,
introduced its latest range of makeup products globally. This new
collection consists of 21 products and 124 shades. It will be available
under the SHISEIDO brand. The packaging of the products is based on modern
Japanese culture. These include powders, inks, shimmering dews, and gels.
Browse Summary of This Research:
https://www.fortunebusinessinsights.com/makeup-market-102587
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