The global facial skincare & makeup market was valued at US$ 151.75 Billion in 2022, according to Facial Skincare & Makeup Market Report, by Product Type (Skincare (Cleanser, Cream & Lotion, Face Oils, Face Packs, Face Wash, Other Skincare’s, Scrubs, Serum, Shaving Products, and Soap), and Makeup (Eye Makeup, Face Makeup, Lip Makeup, and Other Makeup)), by Form Type (Concentrates, Emulsions, Foam, Gel, Other Forms, Powder, Solids, and Sprays), by Distribution Channel (Drug Stores, Online Retail, Specialty Stores, Supermarkets & Hypermarkets, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa), published by Coherent Market Insights.
The global facial skincare & makeup market is expected to surpass US$ 252.85 Bn by 2030, exhibiting a CAGR of 6.6% during the forecast period (2023-2030). Growing demand for natural cosmetics is contributing to increased demand for cosmetic products, which in turn is driving up sales of facial makeup. This market's growth is being fueled by the developing e-commerce industry and the increasing prevalence of social media. A key growth driver of the global facial skincare and makeup market is the growing number of working women and rising awareness about physical appearance among millennial women around the world.
Global Facial Skincare & Makeup Market - Impact of Coronavirus (COVID-19) Pandemic
Following the advent of the COVID-19 epidemic, manufacturers have intensified their social media advertising of herbal skin care products to reach a larger audience. Countries around the world imposed lockdowns, and curfews, which have hugely impacted lifestyles, health & wellbeing, and affected manufacturing industries. However, the Covid-19 pandemic has led the entire population of China the use of masks. The usage of masks for prolonged periods has displayed varied types of skin reactions among end users including acne, rashes, and itching. This factor is driving the demand for skin repair products in the region.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/facial-skincare-and-makeup-market-4503
Key Trends and Analysis of the Global Facial Skincare & Makeup Market:
Among regions, Europe is fastest growing the facial makeup market due to increased awareness of current fashion trends and high demand for luxury makeup products among individuals, as well as increased demand for mineral and sweat-proof makeup products and increased adoption of multipurpose makeup products among individuals in countries in this region. Consumers in Brazil have lowered their cosmetics spending, but they are still interested in facial and skincare trends. This indicates that skincare firms have a big opportunity to target and acquire the Brazilian and South American markets.
Key Takeaways of the Facial Skincare & Makeup Market:
- Among distribution channel, online retail platforms and social media, have been a major source of revenue for the global facial skincare and makeup market. Video blogging about skincare and makeup has been promoted by various influencers on media platforms such as WeChat, Weibo, and Bilibili. Online access to skincare products has also boosted the demand for Western beauty brands focused on organic and vegan beauty products. With an increasing number of influencers in Latin America on social media platforms such as Instagram, the marketing policies of companies have been highly successful in the region.
- Various brands from across the globe are focused on introducing their products globally through online portals. Major players operating in the global facial skincare & makeup market include Procter & Gamble Company, Beiersdorf AG., L'Oreal SA, Unilever PLC, The Estee Lauder Companies Inc., Amorepacific Corporation, Shiseido Company Limited, Johnson & Johnson Services Inc., Kao Corporation, Colgate-Palmolive Company, Avon Products Inc., Oriflame Cosmetics S.A., Revlon, Inc., and Skin Food Co., Ltd.
- Key players operating in the global facial skincare & makeup market are focusing on various strategies such as online platforms for order to strengthen their market presence and expand their product portfolio. For instance, Brazil-based Bella Mademoiselle Offers Amazon rainforest-based vegan cosmetic products to its global clients and in recent years it has used various social media platforms to market its products. For instance, in July 2020, Victoria Beckham Beauty launched its products in China through the Alibaba-owned Tmall Global.
