Face make-up: Key market research findings
- Americas dominate the market geographically
- Increase in demand for contouring products
- Key vendors – Coty, Estée Lauder, L’Oréal, LVMH, and Shiseido
Technavio’s market research analysts predict the global face make-up market to grow at a CAGR of almost 6% between 2016 and 2020. The increasing demand for blemish balm (BB) and complexion care (CC) creams is the primary driving force behind growth in this market. Multifunctional products are in high demand among consumers, especially those who cannot afford to buy multiple products for different skin requirements. These products enhance the convenience of use and reduce the time required for skin care routines. BB, CC, and daily defense (DD) creams provide both cosmetic and functional benefits, and have gained significant traction in the market. During 2015, the Americas dominated the global face make-up market by accounting for around 35% of the overall market share. The growth of the market in the Americas is stimulated by the demand for concealers and other face make-up products such as contouring products, sculpting kits, highlighters, and primers. Product innovation and technological advances are some of the factors that will influence growth in the face make-up market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of global face make-up segments based on the product.
“A rise in the demand for contouring face make-up products is the latest trend in the market. Contouring is a style that uses more than one shade of base make-up to highlight specific features of the face. Manufacturers are launching products that specifically address such trends to meet this upsurge in the demand for face contouring products and gain market shares. For instance, NARS launched the Contour Blush duo in three pairs of shades,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
The foundation segment occupied more than 31% of the market space in the global face make-up market in 2015 to become the dominant shareholder. Foundation, available in cream, liquid, mousse, and powder forms, aids in covering under-eye circles, dark spots, pores, and blemishes, and gives the skin a uniform finish. Its application smoothens the texture of skin, making the layering of products like blushes and eyeshadows easier. For instance, Shiseido launched its first serum foundation, bareSkin in 2014.
The key vendors in the market include Coty, Estée Lauder, L’Oréal, LVMH, and Shiseido. The market for face make-up is highly fragmented due to the presence of international and private vendors. The competition is expected to rise as vendors are focusing more on innovative products to meet the changing consumer demands and fashion trends. Celebrity endorsements and fashion shows are also being used as means to showcase different products. The market is likely to grow during the forecast period with product launches, price wars, and M&A. For instance, during 2015, P&G announced a merger deal worth USD 13 billion of 43 of its brands with Coty.
A more detailed analysis is available in the Technavio report, Global Face Make-up Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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