Global Makeup Market Size, Share, Growth Analysis, By Product(Powders, Gels), By Application Area(Lips, Eyes), By Distribution Channel(Supermarkets/hypermarkets, Exclusive Br) - Industry Forecast 2023-2030

Makeup Market size was valued at USD 40.37 billion in 2021 and is poised to grow from USD 41.85 billion in 2022 to USD 61.34 billion by 2030, growing at a CAGR of 5.61% in the forecast period (2023-2030).

Many people's daily routines now include makeup since it gives them the opportunity to quickly groom themselves while also emphasising facial characteristics like their eyes and lips. These goods include colour cosmetics for the face, eyes, lips, nails, and other body parts and come in a range of formulations, such as powders, creams, or gels. If necessary, facial imperfections can be concealed or covered up with makeup, but colour cosmetics can also enhance or call attention to a person's best features, enhancing their overall appearance and personality. This has caused the appeal of these things to increase on a global level.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Makeup Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The Global Makeup Market is segmented based on the Product, Application Area, Distribution Channel, and Region. Based on the Product, the Global Makeup Market is segmented as Powders, Gels, Lotions, and Others. Based on the Application Area, the Global Makeup Market is segmented as Lips, Eyes, Face, and Others. Based on the Distribution Channel, the Global Makeup Market is segmented as supermarkets/hypermarkets, Exclusive Brand Stores, Online/e-commerce Channels, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

Important Players Release Innovative Products

Just two examples of how many companies around the world are incorporating new technologies into their products to increase their usability and value are probiotics and cosmetics based on the microbiome. Participants in the makeup market place a lot of focus on providing products with attractive packaging that are also easy to use and handle. The demand for the commodities is increasing as a result. Because it takes up less space, is simple to store, and can be kept in a kit or bag, compact packaging is growing in popularity. The rise of the makeup business is also predicted to be accelerated by rising R&D spending.

Restraint

Growing Awareness of Negative Effects

Prolonged contact with the product's ingredients, such as preservatives and pigments, has a negative impact on the skin. This could result in allergic reactions that lead to exhilaration, redness, and other unfavourable effects. Such dangerous compounds can build up over time and result in cancer and dermatitis, both of which can be fatal if not treated right once. As a result, it is projected that the product's detrimental effects on skin care will limit market growth.

Market Trends

As consumers become more aware of the toxicity of synthetic chemicals and their harmful effects on the skin, they are now choosing safer and natural cosmetics. In the 2019 Journal of Resources study titled "Green Consumer Behaviour in Cosmetics Market," for instance, 70% of the respondents stated that they preferred to buy natural cosmetics. Numerous producers are focusing on adding herbal and botanical extracts, such as essential oils and antioxidants, to increase the product's value and thereby attract a bigger consumer base.