Facial Makeup Market to Grow with a CAGR of 5.8% Globally through to 2028
Increasing disposable income of consumers, the growing
popularity of social media and beauty influencers are factors driving the
global facial makeup market in the forecast period 2024-2028.
According to TechSci Research report, “Global Facial
Makeup Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Facial Makeup Market stood at USD 9.1
billion in 2022 and is anticipated to grow with a CAGR of 5.8% in the forecast
period, 2024-2028. The facial makeup products market is a vibrant and dynamic
sector characterized by continuous evolution, driven by shifting consumer
preferences, technological innovations, and societal trends.
The facial makeup products market is a dynamic and
multifaceted industry influenced by an array of factors. The convergence of
evolving beauty standards, technological innovations, social influences, and
sustainability considerations is shaping a market that caters to the diverse
and dynamic needs of consumers worldwide. While facing challenges, the market
is marked by resilience and adaptability, with trends reflecting the industry's
commitment to inclusivity, sustainability, and meeting the evolving
expectations of beauty enthusiasts. As the market continues to evolve,
stakeholders must remain agile, innovative, and attuned to the ever-changing
landscape of facial makeup products.
Browse over 26 market data Figures spread
through 181 Pages and an in-depth TOC on "Global Facial Makeup Market”
Several key drivers fuel the growth of the facial
makeup products market. The first is the ever-evolving beauty standards and
cultural influences, with an increasing emphasis on diversity, individualism,
and self-expression. This dynamic landscape is further influenced by
technological advancements, particularly in formulations and application
techniques, providing consumers with high-performance products and innovative
ways to explore and experience makeup.
Social media and influencer marketing play a crucial
role, turning platforms like Instagram, YouTube, and TikTok into virtual beauty
hubs where trends are born, shared, and adopted. Increased consumer awareness
of ingredients, coupled with a desire for clean and sustainable beauty, drives
the market to offer products aligned with ethical and environmental values.
Additionally, the integration of e-commerce and omnichannel retailing has
expanded market reach, providing consumers with convenient access to a wide
array of facial makeup products.
Amidst the challenges, the facial makeup market is
marked by exciting trends that reflect the evolving preferences of consumers.
Clean beauty and ingredient transparency are at the forefront, with consumers
seeking formulations free from harmful ingredients and brands embracing
transparency in their labeling. Inclusivity is another prevailing trend, with
brands expanding shade ranges and promoting diverse representation to celebrate
beauty in all its forms.
Hybrid makeup and skincare products are gaining
popularity, responding to consumers' desire for multifunctional products that
enhance both appearance and skincare. Technological advancements, such as
virtual try-on experiences and augmented reality, are reshaping the consumer
shopping experience, offering interactive and personalized ways to explore and
try new makeup looks. Sustainability is a central theme, with brands adopting
eco-friendly packaging and responsible sourcing to align with the growing
environmental consciousness of consumers.
DIY and at-home beauty trends are on the rise,
empowering consumers to experiment with makeup independently. This trend is
reflected in the popularity of makeup tutorials and the demand for
user-friendly products that support at-home beauty experiences.
The Global Facial Makeup Market is segmented into
type, price, source, distribution channel, regional distribution, and company.
Based on type, the market is bifurcated into face
powder, concealer, foundation, blush, contouring & highlighting, bronzer,
primer, others. The largest share of the global market was accounted for by
facial creams. Face Cream demand has been driven by celebrity endorsements as
well as a diverse range of product marketing in recent years.
Based on region, North America is predicted to be the
region with the quickest growth. Consumer demand is driving manufacturers in
the United States to extend their global operations. Furthermore, the region’s
growth is aided by the great spending power of the region’s working
professionals.
Major companies operating in Global Facial Makeup Market
are:
- Procter & Gamble
- Shiseido Company, Limited
- L'Oréal
- Coty Inc.
- Estée Lauder Companies
- New Avon Company
- Revlon
- Giorgio Armani S.p.A.
- Amway Corp.
- Johnson & Johnson Services, Inc.
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“The market for facial makeup products is experiencing
robust growth driven by dynamic factors. Evolving beauty standards, inclusive
marketing, and the integration of technology have propelled the industry
forward. Consumers' increasing demand for clean and sustainable beauty options
has led to innovations in formulations and packaging. Social media influencers
play a pivotal role in shaping trends and driving product awareness. The
market's expansion is further fueled by the global rise of e-commerce and the
integration of skincare benefits into makeup products. As a result, the facial
makeup market continues to thrive, showcasing adaptability and responsiveness
to the ever-changing landscape of consumer preferences.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Facial
Makeup Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Face Powder, Concealer, Foundation, Blush, Contouring &
Highlighting, Bronzer, Primer, Others), By Price (Economic, Premium), By Source
(Natural, Organic, Chemical), By Distribution Channel
(Hypermarkets/Supermarkets, Specialty Stores, Online, Others), By Region, By
Competition, 2018-2028”, has evaluated the future growth potential of
Global Facial Makeup Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Facial
Makeup Market.
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