Revenues within the US make-up market have been forecast to rise at a compound annual growth rate (CAGR) of 4.1% over the next five years, increasing from revenues of $6,749.5 million in 2012, to a value of $8,263.7 million by the end of 2017.
Since the early twentieth century, the production of make-up has been controlled by a handful of multi-national corporations.
Product innovation has lead to a widening range of make-up in new formats and textures. Demand for make-up with organic ingredients continues to rise, with consumers looking to limit the number of potentially harmful substances they use and opting instead for the benefits of natural elements such as vitamin E and plant extracts.
Though the economic recession does not appear to be stopping consumers from picking up make-up products, they do seem to be opting for cheaper items. For this reason, lipstick sales have not suffered much, with shoppers steering away from more expensive products but still buying lipsticks.
Within the lipstick market segment, non-smudge, wet-look formulas, intense colours, and added ingredients such as vitamins E, A, and C are fuelling demand.
Eye make-up is set to remain one of the fastest growing market segments over coming years, with mascaras in particular proving popular. Consumers are now far more aware of the products they use around the house and in their cosmetic care routine, pointing to vast potential for green and natural products in the cosmetics industry.
In the coming years, make-up companies will continue to focus their efforts on product innovation, particularly in the mature facial make-up market, to attract new consumers and keep existing consumers loyal to specific brands.
New age foundations will rise in popularity due to the shift from heavy opaque pigments to newer light-capturing crystals (such as topaz, rose quartz and mother-of-pearl) to give the appearance of flawless skin without the made-up look.
For more information on the US make-up market, see the latest research: US Make-Up Market
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