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Global Face Makeup Market to Reach US$ 47.4 Billion by 2028, Bolstered by Rising Consciousness Regarding Physical Appearance

Published on Nov 16, 2022

According to the latest report by IMARC Group, titled “Face Makeup Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global face makeup market reached a value of US$ 37.1 Billion in 2022. Face makeup refers to cosmetics that are applied to enhance facial features and look younger by concealing wrinkles, aging spots, and other blemishes. It includes primer, foundation, concealers, blush, highlighter, powder, mascara, eyeshadow, and lipstick. Face makeup is widely used for various occasions, such as weddings, parties, date nights, anniversaries, and festivals. It is also widely used for daily activities, such as office, traveling, meetings, and casual outings. Face makeup enhances confidence, provides a glamorous look, offers a healthier complexion, and improves photographs. It also has a therapeutic effect that aids in relaxing, relieves anxiety, boosts self-esteem, enhances overall morale, and provides a sense of empowerment.

Global Face Makeup Market Trends:

The rising consciousness among consumers regarding physical appearance and good looks is one of the primary factors supporting market growth. Face makeup is widely used to improve the appearance and enhance natural features, such as the nose, cheekbones, cupid’s bow, lips, eyebrows, and eyelashes, by enabling fresh-looking skin, smoothing out uneven textures, and concealing acne, dark circles, discolorations, wrinkles, and aging spots. In addition, increasing consumer awareness regarding various product health benefits, such as improving skin health, providing deep cleansing to remove oil and impurities, and protecting skin from pollution and smog, is acting as another growth-inducing factor. Furthermore, widespread product adoption due to the rising female workforce participation to maintain aesthetic appeal, look presentable, and show a more authoritative and stronger character that enables confidence is positively influencing the market growth. Apart from this, manufacturers are leveraging artificial intelligence (AI) and augmented reality (AR) for mapping facial features and identifying various skin concerns, such as spots, texture, redness, visible pores, and oiliness, to provide personalized product recommendations, which, in turn, is supporting market growth. Moreover, the introduction of natural and organic products manufactured using plants, botanicals, and food-grade materials that offer antioxidant properties, vitamins, and essential oils for maximum skin benefits is providing a considerable boost to market growth. Other factors, including the introduction of sustainable and zero-waste makeup brands, increasing expenditure capacities of consumers, and easy product availability across various e-commerce platforms, are anticipated to drive market growth. On account of the aforementioned factors, the market value is expected to reach US$ 47.4 Billion by 2028, exhibiting a CAGR of 4.12% during 2023-2028.

Market Summary:

  • On the basis of the product type, the market has been divided into foundation, face powder, blush, concealer, bronzer, and others. At present, foundation represent the most popular product type in the market.
  • Based on the distribution channel, the market has been classified into supermarkets/hypermarkets, specialty stores, pharmacies, online stores, and others. Among these, supermarkets/hypermarkets dominate the market.
  • On a regional basis, the market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some of the key players being L’Oréal S.A., LVMH Moet Hennessy Louis Vuitton, Coty Inc., Kao Corporation, and Oriflame Cosmetics SA.
     

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