Global Facial Makeup Market: Snapshot
The global market for facial makeup is significantly influenced by the enhancement in the lifestyles of the individuals across the world. Nowadays, consumers have become more conscious about their physical appearance, which is leading to the increasing craze for a well-maintained personality and polished look. Since facial makeup plays a significant role in enhancing one’s beauty and facial features, it is witnessing a tremendous rise in demand, globally. The rise in the disposable income of consumers is also adding to the growth of this market by enabling them to afford highly expensive makeup products.
The opportunity in the global facial makeup market is expected to reach US$8.60 bn by 2017. Researchers estimates the market to rise further at a CAGR of 6.10% between 2017 and 2022 and gain a value worth US$11.54 bn by the end of 2022.
Demand for Face Powder to Remain Robust
The global market for facial makeup is analyzed on the basis of the type of the product, sales channel, price, source, and the regional reach of the market. Based on the type of the product, the market is classified into face powder, concealer, foundation, blush, contouring and highlighting, bronzer, primer, and palette. Face powder, among these, witnesses the most prominent demand among consumers across the world. Owing to the easy availability of cheap face powders in the global market, this product segment is expected to report a substantial rise in the overall market, maintaining its dominance, in the years to come.
In terms of the sales channel, the market is categorized into hypermarket, supermarket, pharmacies, E-commerce, and health and beauty retailer. Supermarkets and hypermarkets are the most prominent sales channels for facial makeup products across the world and are expected to remain so over the next few years. However, E-commercial sales channels, such as online retail sites are also projected to gain momentum in the near future. Based on the price, facial makeup are segmented into two categories, economic and premium and on the basis of source, it is bifurcated into natural, chemical, organic, and halal.
APEJ to Dominate Global Facial Makeup Market
On the geographical front, the worldwide market for facial makeup is segmented into the Middle East and Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), Japan, North America, and Latin America. Expanding at a CAGR of 7.10% between 2017 and 2022, Asia Pacific excluding Japan is anticipated to surface as the leading regional market for facial makeup in the near future. The significant rise in the purchasing power of consumers in this region is the main factor behind this tremendous increase in the APEJ market for facial makeup, which is expected to continue to push this regional market upwards in the years to come.
Europe and North America is also projected to witness healthy growth in their respective markets for facial makeup. The European market is expected to gain from the presence of well-established vendors of facial makeup products and the North American market is anticipated to be highly driven by the influence of social media and the escalating trend of selfies over the next few years. Other regional markets will experience a moderate rise in their valuation.
At the forefront of the global market for facial makeup is P&G, Shiseido, LVMH, L’Oreal, Coty, Lakmé, Estee Lauder, Avon, Revlon, and Chanel.