This market research report presents a detailed segmentation of the color cosmetics market in the US by product type (eye makeup, face makeup, lip makeup, and nail makeup). The report also presents a market share analysis of the leading companies in this market, including Coty, Estée Lauder, L’Oréal, LVMH, and Procter & Gamble (P&G).
Technavio’s market research analysts estimate the color cosmetics market in the US to grow at a CAGR of over 3% between 2016 and 2020. The increased penetration of luxury products is the primary driver for the growth of the market. Also contributing to the growth of the color cosmetics market in the US are factors such as product innovation, seasonal trends and improvised marketing initiatives by vendors and retailers. The introduction of natural and organic products is also expected to boost sales in the color cosmetics market during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the color cosmetics segments by product type.
“The demand for natural and organic products is a trend that is becoming increasingly popular in the US. Consumers today are more conscious about their health and are also increasingly aware of the synthetic chemicals used in regular products. To meet these demand, manufacturers are investing in the innovation and development of new products. For example, Nudus offers certified organic lipsticks that are free of gluten, genetically modified organisms, or nanoparticles, thereby making it safe for regular use,” Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
The face makeup segment accounts for almost 45% of the overall market revenue and is expected to witness a steady growth over the next four years. In 2015, bronzers and blushers were the top-selling beauty products, with sales increasing due to the contouring and face mapping trend made famous by celebrities and TV personalities. The launch of new products and innovative additions is expected to aid in the growth of this segment by 2020.
The key vendors in the color cosmetics market in the US are Coty, Estée Lauder, L’Oréal, LVMH, and Procter & Gamble (P&G). The market in the US is characterized by the presence of multiple vendors that have a considerable brand presence. The consumers in this region have the option to choose from a wide variety of products that range from mass market brands to premium brands. To survive and succeed in this market, the vendors have to focus on product packaging to differentiate themselves from other providers.
A more detailed analysis is available on the Technavio report, Color Cosmetics Market in the US 2016-2020.
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