According to the latest report by IMARC Group, the global face makeup market size is expected to reach US$ 38.7 Billion by 2026, exhibiting moderate growth during the forecast period (2021-2026). The demand for face makeup is escalating on account of the rising beauty-consciousness among consumers and the easy availability of these products on e-commerce platforms.
Face makeup products are a subset of cosmetics which are applied on the facial skin for enhancing and highlighting certain features. In addition to this, they help in concealing imperfections such as pores, dark spots, wrinkles, freckles and blemishes. Some of these products also provide moisturizing, antiseptic, anti-bacterial and anti-inflammatory properties. With the increasing awareness among consumers of the harmful effects of synthetic ingredients, there has been a rise in the demand for halal, natural and organic face makeup products in recent years.
Some of the key players being:
- L’Oreal S.A. (OR.PA)
- Louis Vuitton, Societe Europeenne (LVMUY),
- Coty Inc. (COTY)
- KAO CORP (KAOCF)
- ORIFLAME HOLDING AG ORIFLAME HO (0R8V.IL)
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Global Face Makeup Market Trends:
Consumers nowadays have become more conscious about their physical appearance and personal wellbeing. In line with the changing consumer requirements, manufacturers are introducing new and innovative face makeup products that are sweat- and water-proof. They are also focusing on developing cruelty-free cosmetic products and on promoting the usage of compostable and agri-based inks for their packaging. Besides this, the leading companies are launching organic and halal face makeup products which are produced using natural ingredients. These strategies are aimed to widen their operational boundaries across different countries and attract new consumers. Apart from this, the rising number of beauty influencers and increasing social media penetration have also resulted in an increased demand for face makeup products. Moreover, the availability of these products on e-commerce websites has further facilitated their sales.
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Insights on Market Segmentation:
Breakup by Product Type:
1. Foundation
2. Face Powder
3. Blush
4. Concealer
5. Bronzer
6. Others
Based on the product type, foundation is the most popular type of face makeup, accounting for the majority of the total market share. Some of the other product types include face powder, blush, concealer and bronzer.
Breakup by Distribution Channel:
1. Supermarkets/Hypermarkets
2. Speciality Stores
3. Pharmacies
4. Online
5. Others
On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, pharmacies, online and others. Supermarkets and hypermarkets represent the most preferred distribution channel, holding the largest market share.
Breakup by Region:
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa
Region-wise, Europe exhibits a clear dominance in the global face makeup market. Other major markets are North America, Asia Pacific, Latin America, and Middle East and Africa.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
