Face makeup is a subset of cosmetics which is generally applied on the facial skin. It helps to enhance facial features by providing a uniform skin tone, and concealing wrinkles, freckles, blemishes, pores, dark spots, etc. Face makeup can be applied using a brush, beauty-blender or fingertips. Over the years, the global face makeup market has undergone several changes. Nowadays, some of the face makeup products are endowed with properties like anti-oxidant, antiseptic, anti-bacterial, anti-inflammatory, soothing, toning and hydrating. A new research report by IMARC Group, titled “Face Makeup Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 27.45 Billion in 2017. The report further anticipates the market to cross US$ 35.14 Billion by 2023, at a projected CAGR of 4.5% over the forecast period.
Global Face Makeup Market Drivers/Constraints:
- Various factors that have led to a rise in the demand for face makeup products are improvement in GDP, changing lifestyles as well as an increase in the disposal incomes. Moreover, a growing trend of selfies across the globe has proliferated the demand for base makeup products.
- Lately, consumers have become conscious about their physical appearances, due to which they prefer products which help to enhance their inherent beauty and highlight special features. This has highly contributed towards the growth of the global face makeup market.
- The influence of social media has ignited the interest of consumers in face makeup products, especially among the younger generation. This coupled with constant product innovations and variations have broadened the growth prospects of the market.
- However, there are several factors that hamper the market growth. As face makeup products are composed of various chemical compounds, it may lead to irritation, acne, allergies, etc. when used in excess.
Product Type Insights:
On the basis of type, the face makeup market is segmented as foundation, face powder, blush, concealer and bronzer. Amongst these, foundation exhibits a clear dominance as it helps in rectifying any discolouration and hiding freckles, wrinkles and blemishes. Foundation is followed by face powder, blush, concealer and bronzer.
Distribution Channel Insights:
On the basis of distribution channel, retail sales represent the largest segment. In order to select the right shade, colour and texture, consumers generally prefer retail sales. Retail sales is followed by online sales.
On a geographical front, Europe enjoys a leading position in the global face makeup market on account of the high demand for face makeup products in the region. Europe is followed by North America, Asia-Pacific, Latin America, and Middle East and Africa.
The market is highly fragmented with the presence of both large as well as small manufacturers who compete in terms of prices and quality. There is a rigid competition in the market which makes it difficult for small players to enter. Some of the leading players operating in the market are:
- LVMH Moët Hennessy Louis Vuitton SE
- Coty Inc.
- Kao Corporation
- Oriflame Holding AG
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