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Makeup Market Size to Reach USD 63.73 Billion by 2026; Rising Demand for Vegan Products to Drive Growth

April 06, 2020 | Consumer Goods

The global makeup market size is projected to reach USD 63.73 billion by 2026. It is set to gain traction from the ever-increasing demand for vegan or plant-based products worldwide. Besides, rising awareness regarding men’s grooming is likely to affect the market positively in the coming years. Menaji Worldwide, LLC, for instance, is a manufacturer of skincare and makeup products only for men. This information is provided by Fortune Business Insights™, 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 states that the market stood at USD 43.82 billion in 2018. However, it is set to exhibit a CAGR of 4.9% during the forecast period between 2019 to 2026.


Coty Inc. Joins Hands with Kylie Jenner to Widen their Brands Internationally


In November 2019, Coty Inc., multinational beauty company headquartered in New York, teamed up with Kylie Jenner, the founder and owner of Kylie Cosmetics and Kylie Skin. The main aim of this partnership is to jointly create and transform the latter’s pre-existing cosmetics business in a powerhouse brand. Both the parties would focus more on entering into new beauty categories internationally. Kylie and her team will lead all the creative efforts in terms of communication and product initiatives through social media platforms.


This collaboration would be considered as one of the important milestones for Coty as it would be developed into a more agile and focused organization. It would gain the responsibility of creating product portfolios. Apart from that, it would also have the opportunity to focus on distribution, manufacturing, and research and development activities. By using its vast knowledge of skincare, cosmetics, and fragrances categories, it is set to build a digitally native and high growth beauty brand.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/makeup-market-102587  


Rising Usage of Probiotics & Microbiome-based Products to Aid Growth


Nowadays, various manufacturers are implementing latest technologies to develop their in-house products. Utilization of microbiome and probiotics-based makeup products is one of the most common makeup market trends that would spur growth. Manufacturers are striving to increase the application and value of their products by infusing them with botanical extracts, such as antioxidants and essential oils.


Moreover, to attract a large consumer base, they are offering eye-catching packaging that are easy-to-use and easy-to-handle. People are looking for cosmetics with compact packaging so that those can be easily stored in a makeup kit or handbag without requiring much space. However, many of these products consist of a number of harmful chemicals. Persistent deposition of those on a person’s skin may lead to cancer or dermatitis. This factor may hinder makeup products market growth in the coming years.


Key Companies Focus on Product Launches & Acquisitions to Compete in Market


Enterprises present in the market are constantly engaging in the strategies of novel product launches, mergers and acquisition, advertising, and geographic expansions. They are doing so gain a competitive edge in the market. They are also conducting many research and development activities to provide the masses with less toxic and safe ingredients.  


Fortune Business Insights™ presents a list of all the organizations operating in the makeup market. They are as follows:



  • Estée Lauder Inc.

  • Shiseido Co., Ltd.

  • Kao Corporation

  • L’Oréal Professional

  • Unilever

  • Avon Products Inc.

  • Coty Inc.

  • The Procter & Gamble Company

  • Revlon, Inc.

  • Other key market players


Significant Industry Development-



  • August 2018: Hindustan Unilever Limited announced the launch of its new range of color cosmetics under the brand Lakmé. The products were exhibited at the Lakmé Fashion Week and were co-created with Kareena Kapoor Khan, a prominent Bollywood actress. The new range of makeup consists of pout definers, face contours, brow definer, mascara, lip colors, face contours, and cheek contours.


Further Report Findings-



  • North America generated USD 9.76 billion market revenue in 2018 owing to the availability of better infrastructure for the production of innovative products.

  • Europe to exhibit good growth because of the presence of several industry giants in this region.

  • Asia Pacific is anticipated to hold significant revenue backed by the increasing demand for cosmetics from India, Korea, China, and Japan.

  • Based on products, the powder segment is likely to lead in terms of makeup products market share in the near future. This growth is attributable to their high demand because of being user-friendly.


This market can be segmented in the following manner:











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



By Products



  • Powders

  • Gels

  • Lotions

  • Others



By Application Area



  • Lips

  • Eyes

  • Face

  • Others



By Distribution Channel



  • Supermarkets/hypermarkets

  • Exclusive Brand Stores

  • Online/e-commerce Channels

  • Others



By Geography



  • North America (U.S. Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe)

  • Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia- Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, Saudi Arabia, and Rest of Middle East & Africa)


Makeup Market
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  • 2015-2017
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