Makeup & Accessories Market is
Encouraged by Rising Demand for Organic Products, Premiumization of Products
& Beauty and Cosmetic Tutorials
With the rise in skin problems
caused by chemical-based makeup & accessories, consumers are drawn towards
more natural and organic products. Many major manufacturers, including L'Oreal
SA, Estee Lauder Companies Inc., Honasa Consumer Private Limited, and others, have
changed their manufacturing towards natural makeup & accessories products. The
global makeup & accessories market provides a diverse selection of makeup products
that vary in quality, size and price. Premium makeup & accessories that
lasts for a long time and provide effortless makeup application are
preferred by consumers, particularly professional makeup artists. As a result,
regardless of price, consumers prefer makeup & accessories with high
quality and functions. Furthermore, consumers are willing to pay a premium for
popular brand makeup & accessories. As a result, the premiumization of products
is likely to drive the global makeup & accessories market throughout the
forecast period. Beauty and cosmetic videos are encouraging the adoption of makeup
& accessories, that are emerging at a rapid pace on the internet. Consumers
have been drawn to using various sorts of beauty products and tools at home due
to easy access to free web tutorials. Budget-conscious consumers prefer to
learn to do their own makeup by following the DIY trend, that leads to the
adoption of makeup & accessories. As a result, the rise of beauty and
cosmetic tutorials on the internet is expected to drive the makeup &
accessories market over the forecast period.
Makeup
& Accessories are Considered to be an Effective Way of Grooming
The increased consumer awareness
of personal grooming is boosting the need for makeup & accessories. Self-care
is becoming an essential element of many people's everyday routine as it allows
them to highlight facial features such as eyes, lips and therefore provides an
efficient method of grooming. Furthermore, the increasing establishment of
megastores and brand stores in developing countries such as India,
China and many others, as well as the availability of a diverse range of makeup
& accessories, are increasing product demand. Furthermore, the popularity
of premium makeup & accessories among women and millennials is driving the
growth of the makeup & accessories market over the forecast period. Grooming,
looking good and feeling good is now a global trend, with women at
the forefront of the makeup & accessories market. The growing glamour
industry is becoming increasingly popular among the younger population for
various makeup products that can improve their appearance. With engaging
product advertising showcasing new trends, social media has a major influence
on millennials and Gen Z. To meet rising demand, brands such as SA.AL &
Co., Bulldog Skincare, House 99 and Boy de Chanel are focusing on
producing products for men's skincare, makeup & accessories requirements. The
increased awareness among people about their physical appearance is one of the
most important elements impacting the makeup & accessories market. In
addition, the expanding importance of social media platforms, as well as the
growing trend of vlogging and creating unique social media content, are
providing a positive market outlook for makeup & accessories.
FDA Regulations & Skin Problems Associated
to Makeup & Accessories is Likely to be a Challenge for Market Participants
The growing concerns about skin
problems caused by makeup products is likely to limit the market expansion. The
makeup & accessories containing chemicals causes acne, breakouts and other
problems. Makeup is harmful for the skin as it damages the skin's protective
layer. For instance, according to a 2020 study by the National Library of
Medicine, the use of cosmetics affects the human skin and can lead to
pigmentation and skin disorders as some of its compounds can be
harmful, irritating and allergic to human health. The FDA has created
regulations that limit the use of certain components in makeup &
accessories. If the FDA concludes that the substances in a cosmetic are dangerous
or harmful, the cosmetic is called adulterated. These rules and
regulations are hampering the market growth.
Makeup & Accessories Market is Driven
by Novel Innovations & Technological Advancements
Major players are focusing on
developing innovative face skin easing products intended to meet the needs of
various skin types, hence supporting market expansion. For example, RENÉE
Cosmetics Private Limited announced the launch of its new Face Base product
line for Indian skin types in April 2022. The collection includes five shades
of liquid foundation, stick foundation, concealer and compact. Companies
are focusing on providing environmentally friendly face products. Huda Beauty
FZ-LLC, introduced its new cosmetic collection, GloWish, in May 2021. The
collection is cruelty-free and vegan, with sustainable packaging and materials.
MultiDew Skin Tint and Soft Radiant Bronzing Powder are included in the range. Bulldog
Skincare announced the launch of a new AI Skin Adviser on its UK website in
Jan 2023, created in collaboration with Revieve, a producer of
self-diagnostic solutions and digital brand experiences. Bulldog Skincare
expects that this new AI-powered selfie analysis experience will make the make-up
and skincare journey more exciting and accessible to males. L'Oreal SA, Estee
Lauder Companies Inc., Honasa Consumer Private Limited, Edgewell Personal Care
Company (Bulldog Skincare), Huda Beauty FZ-LLC, RENÉE Cosmetics Private Limited,
Unilever plc, Avon Products, Inc., Oriflame Cosmetics AG, Revlon, Inc., Coty
Inc., The Estée Lauder Companies Inc., The Procter & Gamble Company, Kao
Corporation, Shiseido Co. Ltd are some
of the prominent companies that are operating in the global makeup &
accessories market.
Increasing Demand for Branded and Organic
Beauty Products Fuels the Market
The presence of prominent
market players in the North America region provides a huge potential
for consumers to have access to numerous beauty brands and purchase products
based on individual preferences, this, in turn, increases demand for makeup
& accessories in countries like the United States and
Canada. Therefore, the North America makeup & accessories market is
anticipated to grow rapidly over the forecast period. The Asia Pacific region
is expected to grow significantly in the coming years, owing to an increase in
the awareness about beauty products and increased usage of branded
beauty products. Furthermore, the demand for makeup & accessories among
beauty professionals is expected to drive market growth. The European market is
defined by the presence of numerous international cosmetic brands in countries
such as France, the United Kingdom and others. The increasing
collaboration of market participants with various brands and stakeholders to
deliver a range of products while enhancing supply chain management is driving
the region's demand for makeup & accessories. The Middle East, Africa and
Latin America makeup & accessories market is encouraged by the government's
assistance for skincare, makeup & accessories manufacturers to develop
products at reasonable prices. Government rules and guidelines supporting the
use of natural materials are boosting the organic makeup & accessories
market around the world. The positive attitude of the region's makeup &
accessories companies, supported by short-term loans supplied by the government
and other facilities, is increasing product demand in these regions.
The report provides a detailed
overview of the makeup & accessories market insights in regions including
North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle
East and Africa. The country-specific assessment for makeup & accessories
market has been offered for all regional market share, along with forecasts,
market scope estimates, price point assessment, and impact analysis of
prominent countries and regions. Throughout this market research report, Y-o-Y
growth and CAGR estimates are also incorporated for every country and region,
to provide a detailed view of the makeup & accessories market. These Y-o-Y
projections on regional and country-level markets brighten the political,
economic and business environment outlook, which are anticipated to have a
substantial impact on the growth of the makeup & accessories market. Some
key country and region included in the makeup & accessories market report
as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy,
U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN,
India, Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Makeup & Accessories Market
Research Report Covers In-depth Analysis on:
·
Makeup & accessories market segments
·
Makeup & accessories market dynamics
·
Makeup & accessories market value and share
analysis
·
Recent trends, restraints, opportunities in makeup
& accessories market
·
Companies & competition involved makeup
& accessories market
·
Latest technologies in makeup & accessories
market
·
Supply chain and value chain makeup &
accessories market
·
Makeup & accessories market sales and
distribution strategies
Makeup & Accessories Market Growth
Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size
in terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Makeup & accessories industry trends and
developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on makeup & accessories
market forecast by countries
·
Essential information to enhance market position
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