Global Makeup Market - WishTree Insight

Global Makeup Market by Application (Skin Care, Hair Care, Nail Care, Deodorants), Distribution Channel (Online and Offline), and Regions (Latin America, North America, Europe, Asia Pacific, and The Middle East & Africa) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Global Makeup Market size was valued at USD 50.31 billion in 2021 and is expected to surpass USD 15.32 billion by 2031, expanding at a CAGR of 5.7 %during the forecast period, 2021–2031. The growth of the market is attributed to the adoption of beauty products, working women, and cost-effective products.

INTRODUCTION

The term make-up refers to cosmetic products which are designed to enhance the appearance of the body. Make-up comes with a variety of products such as face make-up consisting, of powder, concealer, foundation, and many more, eye makeup such as eyebrow, eye shadow, kohl, eyeliner, and other products, lip care, hair care skin care fragrances, and many more. These products are commonly used by women to enhance their beauty. Technological advancement, rising awareness of personal appearance, and demand for natural and synthetic cosmetic products have propelled market growth.

The change in lifestyle, pollution, eating habits, and certain skin problems & hair issues have raised the demand for cosmetic products. These products have beneficial features that help consumers to improve the issue.

Besides youngsters, people of all age groups are conscious of their looks. The influence of the entertainment industry on personality and appearance has increased the sale of these products.

Market Trends, Drivers, Restraints, and Opportunities

• Aggressive marketing, and cost-effective products have aided the market's growth.
• Product awareness, working women, and growing physical appearance sensitivity have propelled the market growth.
• Rising awareness among customers on the adverse effect of makeup products is hampering the market growth.
• The growing popularity and consciousness of makeup among male consumers is likely to grow the market growth

Scope of the Report

Market Segment Insights

Skin Care segment is propelling the market growth

Based on Application, the Global Makeup Market market is divided into Skin Care, Hair Care, Nail Care, and Deodorants. The Skin Care. segment is expected to expand at a rapid pace during the forecast period. As skin care products come in various forms and give skin a uniform hue. However, theDeodorant segment is anticipated to hold a key share of the market in the coming years and is expected to grow at a CAGR of 5.7%.

The offline segment is expected to expand at a rapid pace

Based on Distribution Channel, the Global Makeup Marketis bifurcated into Online and Offline.The Offline , segment is expected to expand during the forecast period. Accounting for the largest share of 70 % in 2021. However, the Online segment is anticipated to hold a key share of the market in the coming years.

In terms of regions, Global Makeup Market is classified as Latin America, North America, Europe, Asia Pacific, and The Middle East & Africa. The market of Latin America is expected to constitute a key share of the market during the projected period. Global Survey results that 40% of the American population uses cosmetic products. However, the market of the Asia pacific region is anticipated to expand at a rapid pace during the forecast period. The increase in working women is accelerating the market growth in the region.

Competitive Landscape

Key players competing in the Global Makeup Market are Nature's Gate; L’Oreal SA; Oriflame Cosmetics S.A.; Kao Corporation; Avon Products Inc; Skin Food Co.ltd; The Procter & Gamble Company; Louis Vuitton; Coty Inc.; Estée Lauder Inc.

FAQs

What is the CAGR of the market during the forecast period?

5.7 % is the CAGR of the market during the forecast period.

What are the segments covered in the report?

The segments covered in the report are application type which are skin care, hair care, nail care, deodorants, and distribution channel that is online and offline.

Which region accounted for a large market share?

Latin America is accounted for a large market share

Who are the key players competing in the market?

Key players competing in the global MAKEUP market are Nature's Gate; L’Oreal SA; Oriflame Cosmetics S.A.; Kao Corporation; Avon Products Inc; Skin Food Co.ltd; The Procter & Gamble Company; Louis Vuitton; Coty Inc.; Estée Lauder Inc