The UK make-up market has been estimated to increase at a compound annual growth rate (CAGR) of 4.7% over the next five years, rising from a valuation of $2,110.5 million in 2012, to peak at a value of $2,660.2 million by the end of 2017.
Market consumption volumes increased with a CAGR of 2% between 2008-2012, to reach a total of 189.9 million units in 2012.
While consumers have no control over what happens with national economics, they can control their personal appearance and it seems that today, this is exactly what they are doing. Indeed, make-up displays just how recession-proof the sector is.
The make-up market turned in a dynamic performance in comparison to other beauty categories like haircare and bodycare. Furthermore, continued active new product development, an expanding consumer base and fashion trends were additional supporting factors behind the value growth.
Prestige brands outperformed mass market brands, with many women favouring premium-positioned products at the expense of the mid-priced segment.
Confidence is becoming something of a luxury in the current economic climate yet, eight out of ten British women feel more confident when wearing make-up. More than just a lipstick or a cover-up, make-up has become the recession's war paint. In effect women are using make-up to put on a brave face.
Sales in the market have continued to grow and will continue to do so for as long as the market delivers the feel-good factor even if the economy cannot.
In terms of colour, nails have stolen the limelight from eyes and lips, and have become an arena for self-expression in the form of nail art. While the prim, ladylike look of French manicured nails is unlikely to ever go out of style, recent trends have covered lesssubtle, even outrageous looks ranging from two-tone manicures and classic red polish to ombre and metallic shades.
Nail make-up has also witnessed one of the biggest increases of all core beauty sectors in its consumer base in recent years.
For more information on the UK make-up market, see the latest research: UK Make-Up Market
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