Facial Make-Up Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Facial Make-Up Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The facial make-up market is projected to register a CAGR of 5.9% during the forecast period, 2022-2027.

The COVID-19 pandemic has influenced consumers’ spending habits, leading to a decline in the market growth in 2020, owing to various government restrictions and multiple measures intended to decrease the spread of COVID-19. This reduced the sales of facial make-up products as they do not come under necessary goods and services. Due to the stay-at-home or work-from-home trends, customers were not engaging in social gatherings, which led to a decrease in or no usage of facial make-up products. However, with the availability of products over various e-commerce shopping websites with an easy home delivery option in developing countries, sales have been steadily increasing.

The increasing number of working women and rising consciousness about physical appearance among millennial women across the world are key growth drivers of the facial make-up market. The increasing demand for natural and organic cosmetics is resulting in a growing demand for cosmetic products with natural plant-based ingredients and clean-label packaging, which is boosting the sales of facial make-up products globally.

However, stringent regulations imposed on the usage of cosmetic ingredients by government agencies such as the Food Drug Administration (FDA) and the European Union are major constraints for market development. Usage of harmful chemicals in facial make-up products may lead to allergic reactions, thereby hampering the growth of the market.

The facial make-up market globally has witnessed an increasing demand for natural and organic products due to the rise in consumer awareness about the harmful effects of certain compounds, such as paraben and aluminum compounds present in skincare products, including facial care. Many manufacturers in the market are concentrating on natural and organic ingredients in facial make-up instead of synthetic-based ingredients due to the rising consciousness among consumers about harmful chemicals linked to cancer, tumor development, and skin diseases. The market for organic cosmetic products is booming due to wellness trends and the greater availability of natural ingredients. Consumers are more focused on natural, environment-friendly cosmetic products in facial make-up, which are available in gel, powder, and liquid forms.

North America accounts for the largest market share, and it is anticipated to maintain its dominance during the forecast period. The changing lifestyles of consumers in United States and increasing demand for cosmetic products are projected to propel the further usage of facial make-up. Factors such as consumer knowledge, an increase in awareness about the benefits of organic products and services through digital media and other sources, and the advent of social media are adding to the growth in the region. This, in turn, is driving the demand for these products. Consumers in United States are increasing their consumption of herbal beauty products, particularly facial care, due to their ‘vegan’, ‘natural’, ‘organic’, ‘botanical’, and ‘free from’ labels.

The facial make-up market is competitive and driven by various active players. There are numerous prominent players in the market, such as L’Oreal SA, Revlon, The Estée Lauder Companies Inc., Shiseido Co. Ltd, and Clarins Group. The major strategies adopted by the companies operating in the market are product innovations, expansions, and mergers and acquisitions. An advanced distribution network gives an upper edge to the manufacturers to expand their range of products across the world. It is crucial for players to continuously innovate, operate, and grow in the market due to the rapidly changing consumer demands and preferences. Moreover, companies are using digital and social media advertisements to make consumers aware of their new product launches in the market.

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