USD 40.37 billion
Makeup Market Size, Share, Growth Analysis, By Product(Powders, Gels, Lotions, Others), By Application Area(Lips, Eyes, Face, Others), By Distribution Channel(Supermarkets/hypermarkets, Exclusive Br, Stores, Online/e-commerce Channels), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2197 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
94
|Figures:
76
Makeup Market Insights
Makeup Market size was valued at USD 40.37 billion in 2019 and is poised to grow from USD 41.85 billion in 2023 to USD 61.34 billion by 2031, growing at a CAGR of 5.61% in the forecast period (2024-2031).
Makeup has become an essential element of many people's everyday routines since it allows them to emphasize face features such as eyes and lips while also providing an expedient technique of grooming. These products come in a variety of forms, such as powders, creams, or gels, and include color cosmetics for the face, eyes, lips, nails, and other body parts. Wearing makeup can hide or cover up unneeded facial flaws, but color cosmetics can also contribute to or draw attention to the person's best features, improving their entire look and personality. This has led to an upsurge in these items' appeal on a global scale.
US Makeup Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lips
Fastest Growth
Lips
Growth Rate
5.61% CAGR
Global Makeup Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Makeup Market Segmental Analysis
The Global Makeup Market is segmented based on the Product, Application Area, Distribution Channel, and Region. Based on the Product, the Global Makeup Market is segmented as Powders, Gels, Lotions, and Others. Based on the Application Area, the Global Makeup Market is segmented as Lips, Eyes, Face, and Others. Based on the Distribution Channel, the Global Makeup Market is segmented as supermarkets/hypermarkets, Exclusive Brand Stores, Online/e-commerce Channels, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Makeup Market Analysis by Distribution Channel
Supermarkets/hypermarkets, exclusive brand stores, and other offline retailers are anticipated to have a larger market share than internet retailers. Customers may physically examine products in offline businesses, such as lipstick, eyeliner, and eye shadow, utilizing testers, making it simpler for them to select the appropriate item. Additionally, supermarkets and hypermarkets provide generous discounts and gift cards, drawing in a sizable customer base. Additionally, it is anticipated that a growing number of beauty studios and salons would encourage the expansion of the exclusive brand retail market. However, it is anticipated that expanding social media usage and internet usage will fuel the expansion of online channels that offer simple ways to buy products.
Global Makeup Market Share By Applicatione, 2021 (%)
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Makeup Market Regional Insights
According to estimates, North America will experience considerable growth because of the region's improved infrastructural facilities for product development, the region's high per capita spending power, and the rising number of beauty salons. For instance, the United States ranked second in the world's cosmetics industry in 2018, accounting for around USD 73.93 billion, according to the report "Socio-Economic Contribution of the European Cosmetics Industry," released in 2019 by Cosmetics Europe- the Personal Care Association.
In Europe, the makeup market is defined by the presence of well-known firms and a higher level of public awareness of style, glitz, and personal grooming. Players in Europe are using a variety of tactics, such as product launches, marketing campaigns, and promotions, to establish a strong presence in the market.
Global Makeup Market By Geography, 2021 - 2028
- Largest
- Fastest
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Makeup Market Dynamics
Makeup Market Driver
Key Players Launching Innovative Products
- Probiotics and cosmetics based on the microbiome are just two examples of how many businesses across the world are using new technology in their goods to boost their use and value. The makeup market's participants place a strong emphasis on offering items with appealing packaging that are also simple to use and handle. These are raising the demand for the goods. Compact packaging is becoming more and more popular since it takes up less room, is simple to store, and can be kept in a kit or backpack. Additionally, growing R&D spending is anticipated to accelerate makeup market expansion.
Makeup Market Restraint
Rising Awareness Regarding Adverse Effects
- The skin is adversely affected by prolonged contact with the chemicals employed in the product, such as preservatives and pigments. This may cause allergic responses, including redness, euphoria, and other negative consequences. Such harmful substances can accumulate over time and cause dermatitis and cancer, both of which can be fatal if not promptly addressed. Therefore, it is anticipated that the product's negative impacts on skin care would restrain market expansion.
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Makeup Market Competitive Landscape
The Global Makeup market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase makeup market share and profitability.
Makeup Market Top Player's Company Profiles
- L'Oreal
- Estée Lauder Companies
- Coty Inc.
- Shiseido Company Limited
- LVMH Moët Hennessy Louis Vuitton SE
- Revlon Inc.
- Avon Products Inc.
- Johnson & Johnson Services Inc.
- Kao Corporation
- Procter & Gamble Co.
- Unilever PLC
- Beiersdorf AG
- The Body Shop International Limited
- Chanel International B.V.
- Oriflame Holding AG
- Natura &Co Holding S.A.
- Amorepacific Corporation
- Mary Kay Inc.
- Yves Rocher International B.V.
- Clarins Group
Makeup Market Recent Developments
- In 2021, Kyle Cosmetics will be reintroduced by Coty Inc. with new, enhanced formulations that are vegan and clean-label, as well as appealing packaging. The increased demand for vegan and clean-label products led to this innovation, which was made in response to customer desires. The brand is currently available to customers worldwide through a few brick-and-mortar stores.
- In 2021, Coty Inc. added a new face, lip, and eye makeup items to the Gucci beauty range. The expanded Gucci Poudre De Beauté Mat Naturel face powder collection was introduced in travel retail outlets in the Asia-Pacific and Europe. Given that customers in Asia-Pacific and Europe favor utilizing organic and natural goods, Coty Inc. prioritized expanding its commercial operations in those regions.
Makeup Key Market Trends
- Customers now choose safer and natural products as awareness of the toxicity of synthetic chemicals and their damaging effects on the skin has grown. For instance, in the 2019 Journal of Resources study titled "Green Consumer Behavior in Cosmetics Market," 70% of the respondents said that they preferred to purchase natural cosmetics. To boost the product's value and consequently draw in a larger customer base, several producers are concentrating on incorporating herbal and botanical extracts, such as essential oils and antioxidants.
Makeup Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Makeup Market Analysis, key growth factors for the makeup industry are the rising number of working women and millennial women's increased awareness of their physical appearance globally. Global sales of face makeup products are rising as a result of the rising desire for natural and organic cosmetics, which is driving up demand for cosmetics with natural plant-based components and clean-label packaging.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 40.37 billion |
| Market size value in 2031 | USD 61.34 billion |
| Growth Rate | 5.61% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Makeup Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Makeup Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Makeup Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Makeup Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Makeup Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Makeup Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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