Global Face Makeup Market Size to Expand at a CAGR of 2.3% during 2019-2024 – IMARC Group

Global Face Makeup Market Size to Expand at a CAGR of 2.3% during 2019-2024 - IMARC Group

“Global Face Makeup Market to Reach US$ 36.5 Billion by 2024, Catalyzed by Introduction of Organic and Halal Products – IMARC Group”
The global face makeup market has experienced steady growth over the past several years. The demand for face makeup is escalating on account of the rising beauty-consciousness among consumers and the easy availability of these products on e-commerce platforms.

IMARC Group’s latest report, titled “Face Makeup Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global face makeup market size reached US$ 31.3 Billion in 2018. Face makeup products are a subset of cosmetics which are applied on the facial skin for enhancing and highlighting certain features. In addition to this, they help in concealing imperfections such as pores, dark spots, wrinkles, freckles and blemishes. Some of these products also provide moisturizing, antiseptic, anti-bacterial and anti-inflammatory properties. With the increasing awareness among consumers of the harmful effects of synthetic ingredients, there has been a rise in the demand for halal, natural and organic face makeup products in recent years.

Market Trends:

Consumers nowadays have become more conscious about their physical appearance and personal wellbeing. In line with the changing consumer requirements, manufacturers are introducing new and innovative face makeup products that are sweat- and water-proof. They are also focusing on developing cruelty-free cosmetic products and on promoting the usage of compostable and agri-based inks for their packaging. Besides this, the leading companies are launching organic and halal face makeup products which are produced using natural ingredients. These strategies are aimed to widen their operational boundaries across different countries and attract new consumers. Apart from this, the rising number of beauty influencers and increasing social media penetration have also resulted in an increased demand for face makeup products. Moreover, the availability of these products on e-commerce websites has further facilitated their sales. Looking forward, the market is projected to reach a value of US$ 36.5 Billion by 2024, expanding at a CAGR of 2.3% during 2019-2024.

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Market Segmentation:

Market Breakup by Product Type

1. Foundation
2. Face Powder
3. Blush
4. Concealer
5. Bronzer
6. Others

Based on the product type, foundation is the most popular type of face makeup, accounting for the majority of the total market share. Some of the other product types include face powder, blush, concealer and bronzer.

Market Breakup by Distribution Channel

1. Supermarkets/Hypermarkets
2. Specialty Stores
3. Pharmacies
4. Online
5. Others

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On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, pharmacies, online and others. Supermarkets and hypermarkets represent the most preferred distribution channel, holding the largest market share.

Market Breakup by Region

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa

Region-wise, Europe exhibits a clear dominance in the global face makeup market. Other major markets are North America, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape

The competitive landscape of the market has also been analyzed with some of the key players being L’Oréal S.A., LVMH Moet Hennessy Louis Vuitton SE, Coty Inc., Kao Corporation and Oriflame Holding AG.

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