The global color cosmetics market size
is expected to reach USD 86.9 billion by 2025, according to a new report by
Grand View Research, Inc., expanding at a CAGR of 6.2% over the forecast
period. Growing consciousness about physical appearance, along with rising
purchasing power in the developing countries such as India, China, and Brazil,
is driving the market for the products.
Furthermore, rapid adoption of the western
lifestyle has increased the consumer spending on personal care products.
Furthermore, rising women participation in the global workforce has boosted the
demand across the world. This women workforce is expected to raise the demand
for beauty products in the near future as it represents the main consumer
category of the industry.
Facial products dominated the market,
accounting for over 25.0% share of the total revenue in 2018. Popular facial
products include facial foundation, powder, concealer, and bronzer. Growing
penetration of social medial and online makeup tutorials has been propelling
the demand of the facial products over the world. Over the past few years,
waterproof and sweat proof makeups have gained significant popularity among the
women, especially during summer.
Asia Pacific is expected to be the fastest
growing regional market. Increasing per capita income in countries such as
China, India, Indonesia, and Brazil has provided consumers the space to spend
more on premium personal care products. Rapid urbanization in these nations has
helped in expanding the consumer base of the industry. China makes a considerable
contribution to the growth as Chinese travelers has fueled the sales of the
color cosmetics significantly. They accounted for 45% of sales of the travel
retails in the world. L'Oréal has partnered with the local start-ups of Japan,
China, and India to strengthen its presence in these lucrative markets.
Some of the key players are L'Oréal S.A.;
Estée Lauder Companies Inc.; Unilever; Shiseido Company, Limited; Avon
Products, Inc.; Revlon Inc.; Coty Inc.; Ciaté London; CHANTECAILLE BEAUTÉ; and
Kryolan. Major companies are also considering the digital medium as an
important tool for marketing. On an average, L’Oréal annually spends around 30%
of marketing budget on the digital advertising. The company has started a
digital campaign – Beauty Squad, through which it sells articles and videos
with the help of the social influencers.
Further key findings from the report suggest:
· Facial products held the largest share of
over 25.0% in 2018. Lip products are expected register the fastest CAGR of 7.0%
from 2019 to 2025
· Online distribution channel is anticipated
to expand at a CAGR of 9.3% from 2019 to 2025
· Europe accounted for a revenue share of
29.5% in 2018
Grand View Research has segmented the
global color cosmetics market on the basis of product, distribution channel,
and region:
Color Cosmetics Product Outlook (Revenue,
USD Million, 2015 - 2025)
·
Nail Products
·
Lip Products
·
Eye Products
·
Facial Products
·
Hair Products
·
Others
Color Cosmetics Distribution Channel
Outlook (Revenue, USD Million, 2015 - 2025)
·
Offline
·
Online
Color Cosmetics Regional Outlook (Revenue,
USD Million, 2015 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
France
·
Asia Pacific
o
China
o
India
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
