Facial Makeup Market size to increase by USD 25.38 billion from 2022 to 2027 | Demand for BB and CC creams drives market - Technavio

NEW YORK, Sept. 7, 2023 /PRNewswire/ -- The facial makeup market size is expected to grow by USD 25.38 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of  5.91% during the forecast period. Demand for BB and CC creams is notably driving the facial makeup market. However, factors such as the risk of exposure to toxic chemicals may impede the market growth. Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis

The market is segmented by Product Type (Foundation, Face powder, Concealer, Bronzer and others), distribution channel (Offline and Online) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the foundation segment will be significant during the forecast period. In 2022, the foundation category held a commanding position in the global face makeup market, a trend anticipated to persist in the projected period. Foundations play a pivotal role in concealing under-eye circles, blemishes, pores, and dark spots. These products are available in diverse forms like liquid, cream, powder, and mousse, all contributing to an even complexion. The escalating popularity of contouring and highlighting, especially in developed nations, augments the prospects for face makeup items like foundation, driving the growth in this segment. 

To know additional highlights and key points on various market segments and their impact in coming years, View PDF Sample Report.

Geographical Market Analysis 

• Europe is estimated to contribute 33% to the growth of the global market during the forecast period.  North America is another region that dominated the global facial makeup 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. 

Company Insights 
The facial makeup market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:

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 

Drivers 

The demand for BB and CC creams is notably driving the market growth. The rise of multifunctional products has gained significant popularity, especially among individuals seeking efficient solutions for diverse skin needs like dark and fair tones. This heightened consumer demand is driven by the desire for convenience and time-saving in skincare routines. Furthermore, the appeal of products that combine hydrating elements with antioxidants has garnered strong consumer interest. BB, CC, and daily defense creams stand out for providing both cosmetic and functional advantages, further fueling public engagement. The swiftly increasing demand for BB and CC items is poised to drive substantial growth in the global facial makeup market throughout the forecast period.

Challenge

The risk of exposure to toxic chemicals is a major challenge hindering the facial makeup market. Increasing apprehensions surround the utilization of unfavorable components in facial makeup products due to the potential health risks they pose. Chemical constituents found in color cosmetics have been associated with health issues, including cancer and disruptions in hormonal balance. Specific ingredients in cosmetic products like preservatives and fragrances can trigger hypersensitive reactions like inflammation. Additionally, certain blushes incorporate ethylparaben, methylparaben, and propylparaben, which might lead to skin irritation or rashes. As a growing number of consumers gain awareness about the hazards linked to such products, these concerns regarding the chemical composition of facial makeup items could impact the trajectory of market growth throughout the forecast period. The escalating unease surrounding chemical constituents has the potential to impede the expansion of the global facial makeup market during the forecast period. 

View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The Global Facial Care Products Market size is projected to increase by USD 32.86 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 5.74% between 2022 and 2027. In 2017 the market size was valued at USD 86.94 billion. This market research report extensively covers market segmentation by product (creams and moisturizers, cleansers, sunscreen and sun protection products, facial wipes, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Increasing adoption of e-commerce is a major trend in the market.

The Global Face makeup market size is projected to increase by USD 13.85 billion and the face makeup market size is estimated to grow at a CAGR of 4.84% between 2022 and 2027. In 2017 the size of the market was valued at USD 46.78 billion. This report extensively covers market segmentation by distribution channel (offline and online), product (foundation, face powder, concealer, and others), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). Demand for BB and CC creams is driving the face makeup market growth.

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio