The report forecasts the global foundation cream market to grow at a CAGR of 4.9% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend boosting market growth is the growing availability of foundation creams for different skin types. Makeup has become a style statement. To capitalize on the increasing demand for makeup products, vendors in the makeup industry are launching a wide range of makeup products. Numerous high-quality foundations are available in the market in different colors, tones, textures and formulas. The high variety of products in the market make the selection process difficult for consumers. However, this confusion can be mitigated to an extent with the help of smartphones.
According to the report, a key growth driver is the shift from planned to impulse purchasing. The sales of color cosmetic products like foundation cream depend on the successful marketing efforts of an organization such as advertising, sales promotion, personal selling, and public relations. These marketing tactics influence the impulse buying behavior of a consumer, which refers to unplanned or spontaneous purchases made in departmental stores or supermarkets.
Further, the report states that one challenge that could restrict market growth is the increased government regulations on animal testing.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?