Makeup Market to Grow with a CAGR of 6.28% through 2030
The
global Makeup market is growing due to rising demand for multipurpose
cosmetics, clean beauty trends, and influencer marketing as well as
long-lasting, and hydrating formulations drive consumer preferences
According to
TechSci Research report, “Makeup Market - Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2030F”, the Global Makeup Market was valued at
USD 42.97 billion in 2024 and is expected to reach USD 61.72 billion by 2030
with a CAGR of 6.28% during the forecast period. The global makeup market is a dynamic and rapidly evolving
industry, driven by changing consumer preferences, technological advancements,
and the influence of social media. Makeup has become an integral part of
personal grooming and self-expression, with products catering to diverse skin
tones, gender identities, and beauty preferences. As consumers continue to seek
high-performance and skin-friendly products, brands are innovating
formulations, expanding shade ranges, and adopting sustainable practices to
meet growing demands.
One
of the primary factors is the increasing beauty consciousness among consumers
worldwide. Social media platforms such as Instagram, TikTok, and YouTube play a
significant role in shaping beauty trends, with influencers and beauty bloggers
showcasing makeup techniques, product reviews, and tutorials. This exposure has
led to a surge in consumer interest, particularly among younger demographics
who are eager to experiment with new products and looks.
Another
major driver is the rising demand for clean and sustainable beauty products.
Consumers are becoming more conscious of the ingredients in their makeup and
are opting for non-toxic, vegan, cruelty-free, and eco-friendly formulations.
Brands are responding by reformulating products to exclude harmful chemicals
like parabens, sulfates, and synthetic fragrances, while also focusing on
sustainable packaging solutions such as biodegradable and refillable
containers. This shift aligns with the broader movement towards environmental
responsibility and ethical consumerism.
Despite
its rapid growth, the global makeup market faces several challenges. One of the
most pressing issues is the intense competition among brands. With numerous
established and emerging players in the industry, brands must continuously
innovate to differentiate themselves. Product saturation in categories like
foundation, lipstick, and eyeshadow makes it difficult for new launches to gain
traction without strong marketing strategies or unique value propositions.
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market data Figures spread through xx Pages and an in-depth TOC on
"Global Makeup Market.”
The Makeup Market
is segmented into product, application area, sales channel and region.
Based on the
sales channel, the online segment is the fastest-growing channel in the global
makeup market, driven by increasing e-commerce adoption, digital innovation,
and social media influence. Consumers prefer online platforms for their
convenience, extensive product variety, and personalized recommendations.
Virtual try-on tools, AI-driven shade matching, and influencer marketing
further enhance the online shopping experience. Subscription boxes and
direct-to-consumer (DTC) strategies are also fueling growth. Additionally, the
rise of mobile shopping and seamless payment options have made purchasing makeup
online more accessible. As brands continue to invest in digital strategies, the
online segment is expected to maintain its rapid expansion globally.
Based
on region, the Asia Pacific region is the fastest-growing segment in the global
makeup market, driven by rising disposable incomes, urbanization, and
increasing beauty consciousness. Countries like China, India, South Korea, and
Japan are experiencing a surge in demand for high-quality and innovative makeup
products. Social media, K-beauty trends, and influencer marketing are further
propelling market growth. The region’s expanding e-commerce sector and
digital-first beauty brands enhance accessibility and affordability.
Additionally, the growing preference for skincare-infused makeup, clean beauty,
and inclusive shade ranges contribute to its rapid expansion. Asia Pacific is
expected to dominate future growth in the global makeup industry.
Major companies
operating in the global Makeup Market are:
- L'Oréal S.A.
- Unilever plc
- Avon Products, Inc.
- Revlon Consumer Products LLC
- Coty Inc.
- The Procter & Gamble Company
- Kao Corporation
- Shiseido Co., Ltd.
- Benefit Cosmetics LLC
- The Estée Lauder Companies Inc.
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“Technological advancements are also
transforming the makeup industry. The integration of artificial intelligence
(AI), augmented reality (AR), and digital beauty tools has revolutionized how
consumers shop for makeup. Virtual try-on tools allow customers to test
products digitally before making a purchase, reducing the need for in-store
sampling. AI-powered beauty apps analyze skin tone and type to recommend
personalized makeup products, enhancing customer satisfaction and boosting
brand loyalty. Another critical trend is inclusive and personalized beauty. The
demand for diverse shade ranges and customized makeup solutions has pushed
brands to expand their offerings. Many companies now provide foundations and
concealers in extensive shade options, catering to various undertones and skin
concerns. Personalization is also gaining traction, with AI-driven beauty tools
offering bespoke shade recommendations and custom-blended products. This shift
towards inclusivity reflects changing societal norms and consumer expectations
for representation in the beauty industry, “Said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based management
consulting firm.
“Makeup Market – Global
Industry Size, Share, Trends, Opportunity and Forecast, By Product (Powders,
Gels, Lotions, Others), By Application Area (Lips, Eyes, Face, Nails), By Sales
Channel (Hypermarket/Supermarket, Specialty Store, Online, Others), By Region
& Competition, 2020-2030F”, has evaluated the future growth
potential of global 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 the global Makeup
Market.
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