Makeup Market Business Growth Drivers and Restraints Created by COVID-19 Outbreak | Finds Fortune Business Insights™
The global makeup market share is likely to gain
impetus from the increasing awareness programs regarding the usage of synthetic
and toxic chemicals in cosmetics and their hazardous effects on skin. Thus,
consumers are rapidly inclining towards natural products that are safer to use.
Numerous manufacturers are investing huge sums in research and development
activities to create products infused with botanical or herbal extracts. Fortune
Business Insights™ provided this information in a recently published
report, titled, “Makeup Market Size, Share & Industry Analysis, By
Products (Powder, Gels, Lotions, and Others), By Application Area (Lips, Eyes,
Face, and Others), By Distribution Channel (Supermarkets/Hypermarkets,
Exclusive Brand Stores, Online/e-commerce Channels, and Others) and Regional
Forecast, 2019-2026.” The report further mentions that the makeup
market size stood at USD 43.82 billion in 2018. It is
projected to reach USD 63.73 billion by 2026, thereby
exhibiting a CAGR of 4.9% during the forecast period.
An Overview of the Impact
of COVID-19 on this Market:
The emergence of COVID-19 has brought the world
to a standstill. We understand that this health crisis has brought an
unprecedented impact on businesses across industries. However, this too shall
pass. Rising support from governments and several companies can help in the fight
against this highly contagious disease. Some industries are struggling and some
are thriving. Overall, almost every sector is anticipated to be impacted by the
pandemic.
We are taking continuous efforts to help your
business sustain and grow during COVID-19 pandemics. Based on our experience
and expertise, we will offer you an impact analysis of coronavirus outbreak
across industries to help you prepare for the future.
Fortune Business Insights™
presents a list of all the companies operating in the best makeup on the market. They are as follows:
- Estée
Lauder Inc.
- Unilever
- L’Oréal
Professional
- Revlon,
Inc.
- Coty
Inc.
- The
Procter & Gamble Company
- Avon
Products Inc.
- Shiseido
Co., Ltd.
- Kao
Corporation
- Other
key market players
Drivers & Restraints-
Increasing Demand from
Collegians & Working Women to Drive Growth
In today’s technology-driven world where almost
every person is glued to a number of social media platforms, the adoption of
makeup products is increasing at a fast pace. This growth is attributable to
their capability to change the appearance of a person’s face, skin, and body.
According to one of our lead analysts, “Working women and collegians are the
main consumers of these products as they utilize cosmetics extensively in their
everyday lives to look presentable and elegant.” Also, the availability of a
wide range of products as per a consumer’s skin tone is set to propel the
makeup market growth in the coming years. They possess the ability of hiding
scars, dark circle, discoloration on neck or face, as well as covering up acne.
However, too much usage of makeup products can result in adverse effects, such
as intoxication, redness, and allergies. It may hinder market growth.
Regional Analysis-
North America to Dominate
Backed by Rising Number of Beauty Salons
Geographically, the market is fragmented into
Asia Pacific, North America, the Middle East and Africa, Europe, and Latin
America. Amongst these, in 2018, North America procured USD 9.76 billion makeup
market revenue. It would exhibit significant growth in the coming years on
account of the availability of better infrastructure to develop innovative
products, rising number of beauty salons, and high purchasing power of the
masses.
Asia Pacific, on the other hand, is expected to
generate considerable revenue in the coming years because of the rising demand
for makeup products from the emerging nations, such as India, Japan, Korea, and
China. Additionally, increasing number of working-class population, rising
disposable income, and rapid globalization would contribute to market growth.
Competitive Landscape-
Key Players Adopt the
Strategy of Acquisition to Strengthen their Position
The market consists of several companies that
are striving persistently to launch new products in order to cater to the
rising needs of the consumers. They are also engaging in the strategy of
acquisitions to expand their geographical presence.
Segment-
Property of Being
User-friendly to Favor Growth of Powder Segment
In terms of products, the market is segregated
into lotions, gels, powders, and others. Out of these, the powders segment is
anticipated to lead by holding the maximum makeup products market share during
the forthcoming years. It would occur because of the rising usage of cosmetics,
such as eyeshadow palette, blush, and foundation. These are available only in
powdered form. The demand for powder is also upsurging as they provide natural,
lightweight, and clear look. They are suitable for all skin types and are
hence, user-friendly.
Which Questions Do This
Report Answer?
- How
many segments does this market possess?
- What
are the makeup market trends, growth drivers, and hindrances?
- Which
region is expected to remain dominant in the near future?
- How
many companies would remain on top in terms of revenue?
- Which
are some of the challenges and opportunities that the market is likely to
come across during the forecast period?
Below are a couple of the
key industry developments:
- August
2018:
L’Oréal, a personal care company headquartered in France, successfully
acquired Logocos Naturkosmetik AG, a provider of natural cosmetics based
in Germany. This acquisition would enable the former in surging the sales
of Logocos in the international market.
- September
2018:
Shiseido Company, Limited, a multinational personal care company based in
Japan, introduced its latest range of makeup products globally. This new
collection consists of 21 products and 124 shades. It will be available
under the SHISEIDO brand. The packaging of the products is based on modern
Japanese culture. These include powders, inks, shimmering dews, and gels.
Browse Summary of This
Research:
https://www.fortunebusinessinsights.com/makeup-market-102587
About Us:
Fortune Business Insights™ delivers accurate
data and innovative corporate analysis, helping organizations of all sizes make
appropriate decisions. We tailor novel solutions for our clients, assisting
them to address various challenges distinct to their businesses. Our aim is to
empower them with holistic market intelligence, providing a granular overview
of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media
Channels:
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/makeup-market-9741
Comments
Post a Comment