What Is The Current and Historic Market Size Analysis Of The Makeup Market?
The makeup market has seen considerable growth due to a variety of factors.
• The cosmetics industry has seen robust growth in recent years. The industry which was valued at $37.6 billion in 2024 will expand to $40.1 billion in 2025, marking a compound annual growth rate (CAGR) of 6.6%.
Factors such as the impact of social media, prevailing fashion trends, the film and television industry, beauty bloggers and influencers, technological advancement, and cultural diversity have significantly contributed to the growth witnessed during the historic period.
What Is The Forecast For The Makeup Market Size?
The makeup market is expected to maintain its strong growth trajectory in upcoming years.
• Over the upcoming years, the size of the makeup industry is projected to experience consistent expansion, reaching a value of $48.2 billion in 2029 with a 4.7% Compound Annual Growth Rate (CAGR). This growth projection for the future can be ascribed to the emerging men's makeup market, evolving trends in the fashion industry, the ongoing rise in online makeup sales and digital beauty platforms, subscription-based models, and partnerships between makeup brands and social media influencers. Key anticipated trends for this period encompass the introduction of innovative clean beauty goods, multiple-function makeup items, virtual try-on technologies, traditional beauty standards, and marketing to a broader demographic.
What Are The Essential Drivers Behind The Growth Of The Makeup Market?
The growth of the makeup market is likely to be propelled by the expansion of the e-commerce sector. E-commerce involves the online trading of goods and services across the internet. This significant upsurge in the e-commerce domain of the makeup market features skyrocketing sales, encouraged by the convenience and broad product selection it provides. These online platforms make it easy to buy cosmetic goods, offering a multitude of options and offering global access to consumers. For example, in November 2023, data from the Census Bureau of the Department of Commerce, which is a government agency based in the US, indicates that the estimated retail e-commerce sales in the US for the third quarter of 2023 were at $271.7 billion, marking a 0.9% (±0.4%) rise from the second quarter. There was a remarkable increase of 7.8% (±1.2%) in e-commerce sales seen in the third quarter of 2023 as compared to the same period in 2022, far surpassing the 2.0% (±0.4%) rise observed in total retail sales in the same timeframe. In the third quarter of 2023, e-commerce sales composed 14.9% of all sales. Hence, the expanding e-commerce sector is fueling the growth of the makeup market for the future.
How Is The Global Makeup Market Divided Into Key Segments?
The makeup market covered in this report is segmented –
1) By Product: Foundation, Concealer, Powder, Primer
2) By Application: Area, Lips, Eyes, Face, Nails
3) By Distribution Channel: Online, Offline
Subsegments:
1) By Foundation: Liquid Foundation, Powder Foundation, Cream Foundation, Stick Foundation, Cushion Foundation, Mousse Foundation, Tinted Moisturizers
2) By Concealer: Liquid Concealer, Stick Concealer, Cream Concealer, Pencil Concealer, Color Correcting Concealers
3) By Powder: Loose Powder, Pressed Powder, Setting Powder, Translucent Powder, Finishing Powder
4) By Primer: Mattifying Primer, Hydrating Primer, Pore-Minimizing Primer, Illuminating Primer, Colour-Correcting Primer, Smoothing Primer
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How Are New Trends Impacting The Size Of The Makeup Market?
Leading corporations in the makeup industry are shifting their attention towards the creation of innovative solutions, such as complexion enhancers, in order to strengthen their position in the market. Complexion cosmetics, devised to improve and balance skin tone, typically encompass foundation, concealer, and tinted moisturizers with an aim to create a more even and flawless complexion. For example, in January 2024, a renowned British cosmetics brand, Makeup Revolution, unveiled two fresh complexion products; the Skin Silk Serum Foundation and the Bright Light Face Glow. The Skin Silk Serum Foundation, available in 20 colors, is light and allows the skin to breathe. Its formulation includes hyaluronic acid and peptides which contribute towards maintaining a soft and flexible skin texture and aid in collagen production, skin firming, brightening, and hydration. The foundation offers a subtle and glowing satin finish that camouflages flaws but still allows the skin's natural beauty to show through. It can be applied sparingly for a more natural coverage or layered for a 'second-skin' effect.
Who Are the Key Players In The Makeup Market?
Major companies operating in the makeup market are:
• LVMH (Moët Hennessy Louis Vuitton)
• Procter & Gamble (P&G)
• L'Oréal Paris
• Morphe Cosmetics
• Unilever
• Estée Lauder Companies Inc.
• Kao Corporation
• Shiseido Co. Ltd.
• Coty Inc.
• Amorepacific Corporation
• Mary Kay Inc.
• Avon Products Inc.
• Maybelline
• Revlon Inc.
• Elizabeth Arden
• Urban Decay
• Anastasia Beverly Hills
• Huda Beauty
• Laura Mercier
• ColourPop Cosmetics
• Too Faced Cosmetics
• MAC Cosmetics
• Bobbi Brown Cosmetics
• Clinique
What Are The Regional Insights Into The Makeup Market?
Asia-Pacific was the largest region in the makeup market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the makeup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
