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The facial makeup market size is projected to increase by USD 25.38 billion at a CAGR of 5.91% between 2022 and 2027. The market is witnessing a significant surge in demand, largely driven by evolving consumer preferences and lifestyle trends. One notable trend fueling market growth is the increasing popularity of BB (beauty balm) and CC (color correcting) creams. These multifunctional products have garnered widespread appeal, particularly among consumers seeking efficient skincare solutions amidst busy lifestyles. With the ability to address various skin concerns such as dark spots, blemishes, and wrinkles in one application, BB and CC creams offer unparalleled convenience, reducing the time and effort required for elaborate skincare routines.
Moreover, the rising demand for BB and CC creams can be attributed to their dual functionality, combining cosmetic benefits with skincare properties. Consumers are increasingly drawn to products that not only enhance their appearance but also provide nourishment and protection for their skin. Formulations containing hydrating ingredients and antioxidants have garnered particular attention as they cater to the growing consumer interest in holistic skincare solutions. As awareness of the benefits of these multifunctional products continues to spread, driven by factors such as social media influence and beauty trends, the Facial Makeup market is poised for sustained growth in the forecast period. Manufacturers and retailers alike are capitalizing on this trend, introducing innovative formulations to meet the evolving needs and preferences of consumers worldwide.
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The market share growth by the foundation segment will be significant during the forecast period. The foundation segment by product dominated the global face makeup market in 2022. In the forecast period, its dominance is expected to be maintained. The foundation is used to cover under-eye circles, dark spots, pores, and blemishes. Foundations come in a variety of forms, including cream, liquid, mousse, and powder, and create a consistent finish.
The foundation segment was valued at USD 43.47 billion in 2017 and continued to grow until 2021. Consumers have become aware of their physical appearance. The increasing trend of highlighting and contouring, particularly in developed countries, has given rise to a favorable outlook for face makeup products such as foundation which have been driving the segment growth. This can be attributed to the fact that contouring helps slim down the chin, nose, forehead, and other parts of the face while highlighting aids in providing a healthy glow to the skin.
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This offline distribution channel comprises specialty stores, hypermarkets, supermarkets, convenience stores, and department stores. In line with the increasing preference for online shopping, revenue from an offline distribution channel has declined steadily in recent years. In order to support the sale of products by means of offline channels, players are extending their stores in local markets and regions. Suppliers of baby bath products carry out their activities in speciality stores and other retail outlets. This scenario also intensifies the facial skincare & makeup market competition. To sustain in such a competitive market and with the declining preference for offline shopping, retailers are introducing new business and retail strategies. These include better pricing strategies and a wider assortment of products. Although offline distribution channels lost market share to the Internet channel, an extensive marketing campaign is estimated to continue driving sales growth in this segment which will also be expected to bring about a strong increase in demand.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America dominated the global market in 2022. It is expected to maintain its dominance during the forecast period. Beauty products have aroused much interest, especially among adolescents, due to the influence of Social Media through promotion and endorsement as well as the trend towards capturing Selfies. Facial skincare & makeup products provide tone correction, slimming, lifting, and radiance to the skin. The demand for concealers and other face makeup products such as Contouring Products, Sculpting Kits, Highlighters, and Primers is driving growth in the North American market. Product innovation and technological advances are the major growth drivers in the regional market in focus during the forecast period.
The market is undergoing significant shifts driven by various factors, including changing consumer preferences, societal trends, and advancements in cosmetic ingredients. One of the key drivers shaping this market is the rise in stay-at-home or work-from-home trends, which has altered consumer behavior toward facial makeup products. With fewer social gatherings and more time spent indoors, consumers are seeking makeup products that offer natural and organic formulations, emphasizing skincare benefits alongside aesthetic appeal.
Another driving force behind the market is the increasing demand for products with clean-label packaging and plant-based ingredients. As consumers become more conscious of their health and environmental impact, there's a growing preference for cosmetics free from synthetic-based ingredients that may have adverse effects on the skin. Natural and organic cosmetics, enriched with plant-based ingredients, are gaining popularity as they align with consumers' desire for healthier alternatives. Moreover, the focus on clean-label packaging reflects consumers' desire for transparency and sustainability in the products they use, driving manufacturers to innovate in packaging materials and design.
Furthermore, the awareness of skincare benefits integrated into makeup products is shaping the market landscape. Consumers are seeking cosmetic formulations that not only enhance appearance but also contribute to healthy skin. Ingredients with hydrating, antibacterial, and anti-inflammatory characteristics are becoming increasingly sought after as they address concerns such as skin conditions, blemishes, and wrinkles while providing aesthetic appeal. With working women comprising a significant demographic in the market, the demand for facial makeup products that offer both skincare benefits and enhanced appearance continues to rise, driving innovation and growth in the Facial Makeup market.
E-commerce offers online shopping portals that allow consumers to compare and collect information about facial makeup and offer valuable feedback. The number of online shopping portals is increasing significantly, and the penetration of smartphones has enabled vendors to sell their make-up products and accessories online. Moreover, online channels include brand-owned online formats, pure-play e-retailers, and other online retailers that sell through the online format. Given the growing popularity of eCommerce, it is projected that the share of online shopping in overall retail sales will increase over the forecast period. Various vendors have started selling their products through their web portals, which allow customers to shop online. These factors are expected to propel the growth of the global market during the forecast period.
There are rising concerns over the use of unpleasant ingredients in the products, as they may result in health hazards. Chemical ingredients in color cosmetics have been linked to health issues like cancer and hormone disruption. A hypersensitivity reaction, for example, inflammation, may occur from certain ingredients of cosmetic products like preservatives and fragrances.Foundations that contain harmful chemicals such as polymethyl methacrylate can disrupt the immune system and cause allergies. Some blushes are made with ethylparaben, methylparaben, and propylparaben, which may cause skin irritation or rash. As more and more consumers become aware of the risks associated with such products, these concerns about the chemical composition of face makeup cosmetics may have an influence on market growth over the forecast period. The growing concern regarding chemical ingredients may hinder the growth of the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is experiencing a surge in demand, driven by evolving consumer preferences and lifestyle trends. With the rise of stay-at-home and work-from-home practices, individuals are increasingly turning to e-commerce shopping websites to procure necessary goods and services, including facial makeup items. There's a growing inclination towards natural and organic cosmetics, with a focus on plant-based ingredients and clean-label packaging. Consumers are prioritizing products that are FDA-approved and free from synthetic-based ingredients due to concerns related to skin health and potential links to tumor development and skin diseases. Organic cosmetic products are gaining traction, especially among working women seeking healthy skin and aesthetic appeal. Halal-certified products are also gaining popularity, catering to diverse consumer preferences. The market is witnessing a shift towards personal care products that emphasize natural sources and chemical-free formulations, targeting various skin concerns such as wrinkles, hydration, antibacterial and anti-inflammatory characteristics. E-commerce platforms are pivotal in driving accessibility and convenience for consumers looking for a wide range of facial makeup items, from blusher to skin-whitening chemicals. Embracing the organic beauty craze, consumers are increasingly drawn to products boasting natural ingredients and shunning synthetic chemicals, prioritizing skin health and the enhancement of facial traits through contouring and highlighting techniques.
Furthermore, the market is experiencing a significant shift due to stay-at-home or work-from-home trends, altering social gatherings dynamics. With a growing emphasis on skincare and organic products, consumers are increasingly focused on cosmetic ingredients approved by regulatory bodies like the Food and Drug Administration (FDA). This market caters to diverse skin conditions, offering products that conceal flaws, accentuate features, and enhance the natural color and texture of the skin. From facial creams targeting specific concerns such as skin whitening, anti-aging, and moisturizing to formulations enriched with natural compounds boasting hydrating and antibacterial characteristics, the e-commerce sector plays a pivotal role in facilitating access to these products.
Facial Makeup Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.91% |
Market growth 2023-2027 |
USD 25.38 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.76 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, Japan, China, South Korea, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amway Corp., Chanel Ltd., Coty Inc., Dr. Babor GmbH and Co. KG, Groupe Clarins, Grupo Boticario, Kao Corp., Kose Corp., LOreal SA, Lotus Herbals Pvt. Ltd., LVMH Moet Hennessy Louis Vuitton SE, Mary Kay Inc., Natura and Co Holding SA, Nature Republic OC, Nutriglow Cosmetics Pvt. Ltd., Oriflame Cosmetics S.A., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., and The Procter and Gamble Co. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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