Makeup Market Synopsis

Makeup Market Size Was Valued at USD 397.7 Billion in 2023, and is Projected to Reach USD 644.0 Billion by 2032, Growing at a CAGR of 5.5% From 2024-2032.

The makeup market is determined by a wide array of products applied to the face and intended to alter its look. They can be cosmetic products like lipstick, foundation, eyeshadow, and mascara and makeup products like moisturizers and cleansers. This market encompasses the apparel and cosmetics that the clients use day to day, formal wear, formal make-ups, and special occasions make-up amongst others. The major market participants include leading makeup brands, specialists, and individual labels as they influence the tendencies in color and formulation as well as the aspects of sustainability. The makeup industry depends on fashion trends, culture, and technology in the production of skincare and cosmetic products, hence, competitive all over the world.

•  The makeup sector pertains to a vibrant and ever-growing category of beauty products in the industry dealing with face and skin accessories. Some of the subcategories include foundations, lipstick, eyeshadow, mascara, and skincare products which are the primer and the moisturizer. The following market trends are specific to cosmetic products: Individual expression, beauty, and techniques of forming new products, as well as their packaging. The international big giants apart from the specialty and independent brands strive to fulfill the ever-growing and varying demands of cosmetics, from the ones that are natural and organic to those that are daring and trendy.
•  Innovations also dominate the makeup market whereby new technologies incorporated in the formulas, product’ designs, and product range inclusiveness have received attention in adapting to skin tone variety and consumer preference. Other related areas that play a significant role in the determination of consumer trends and the market include social media and influencer marketing activities that drive product innovations and the creation of brand images. Consumers’ loyalty and brand image, crucial factors affecting the makeup market, concern the issue of sustainability and ethical sourcing. Therefore, the makeup market continues to be fragmented, saturated, and innovative in its products and services, meeting and adapting to clients’ and global tendencies worldwide.

Makeup Market Trend Analysis

Rise of clean beauty

• Another important direction that is actively developing in the makeup market is the direction of clean beauty. Clean beauty means products that are free from questionable ingredients like parabens, sulfates, phthalates, and synthetic fragrances. The awareness level of consumers regarding the products they apply on their skin is also rising moving towards products that are relatively safer and cause minimal or no harm to the environment.
• This development is attributed to the increasing sensitization of people on health and environmental matters that have forced manufacturers to change their formulation and come up with clear labeling of their products. Standard digital content is based on clean beauty products that include natural and organic ingredients, environmentally-friendly packaging, and non-animal-tested products as these aspects attract consumers with ethical choices. Now, more and more people manage to learn about clean beauty, and it changes the existing market standards and encourages innovations in the makeup sector.

The intersection of beauty and technology

• An opportunity that is beginning to come to light in the makeup industry is the incorporation of beauty into tech. Virtual fitting and augmented reality are now getting widely integrated into the online purchasing process of makeup products. These technologies enable users to try on makeup in real-life situations right from their smartphones or personal computers, thus making it easier for them to shop interactively.
• AR when incorporated into the platforms enables brands to create interaction between the customers and the products and reduces cases where customers return products due to wrong shades among other benefits as it helps increase sales conversion rates since customers are in a position to test products before purchasing them. It also presents opportunities for recommendations concerning skin shade, face shape, and makeup likes or dislikes that can collectively lead to the improvement of client satisfaction.
• In addition, the information obtained from the try-on sessions thus obtained is socially cued and can aid brand decision-makers in the provision of better and more expected advances in the consumption pattern of the buyers. Hence, the prospect of AR and try-on virtually offers brands an appealing chance to develop and set themselves apart within the saturated makeup market and meet consumers’ modern expectations driven by advancing technologies.

Makeup Market Segment Analysis:

Makeup Market Segmented based on category and gender.

By Category, Skin & sun care products segment is expected to dominate the market during the forecast period

• Thus, within the forecast period, the makeup segment established based on skin and sun care products is expected to maintain its leadership. This dominance is due to growing reliance on and knowledge about the skincare regime and sun-protecting factors among consumers. Cosmetic products that apply to the skin include creams, serums, and cleansers for care or treatment of the skin for issues like aging, acne, and dryness.
• Moreover, staking devices such as sun cream are essential in controlling skin degradation by UV rays, thereby encouraging an improvement in skin health, not to mention the decrease in the incidence rate of skin cancer. This complements the ever-expanding preoccupation with skin cleansing treatments within routine or officially approved beauty niches with equally growing anxieties about the impact of the environment and pollution on the skin, further propelling the sales of skin and sun protection products. Therefore, this segment is likely to experience a steady rise in the future due to the formulation change, the future exposure of ingredients, and the increasing understanding of skin health and care among consumers.

By Gender, the Women segment is expected to hold the largest share

• The research also noted that in the makeup market, the women’s segment is expected to dominate because of the following factors. Ever since time immemorial, it has been believed that females are the ones who are into the use of makeup products as this is in concord with cultural practices, societal relations as well as the grooming instincts of ladies. Lipstick-based cosmetics are commonly found on the lips of women as a way of portraying themselves and boosting or asserting themselves in societies, workplaces, and other places of work.
• Also, the makeup industry has always been orientated primarily at female consumers and is one that offers an extremely diverse range of products, including foundations and lipsticks, and skincare products for women that may be used daily. Thus, brands adapt and develop new directions and launches reflecting the changing beauty trends and the increasing variety of female customers’ demands all around the world. Such orientation towards the women’s segment is essential in understanding the scope and even the leading position of makeup in the existing market.

Makeup Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• Thus, Asia Pacific is expected to have the lion’s share in the makeup market over the forecast period owing to the following factors. To begin with, the social demographic of the region is massive and burgeoning with a buoyant middle class in countries such as China, Japan, South Korea, and India that are ready and able markets for the sort of beauty and personal care commodities produced by the industry. Furthermore, due to the changing face of beauty with the K-beauty and J-beauty trends, the makeup market received a new impulse that toughs due to the focus on skincare.
• Moreover, due to the establishment of social networks and other digital facilities, beauty trends, and consumer awareness in the Asia Pacific have increased and have provided a vigorous platform for new and innovative products. In addition, the socio-cultural characteristic of the region enables the sustainable market demand for the sort of makeup products that are dark skin–oriented and those that may suit other skin type preferences. Therefore, Asia Pacific is not only a promising client base for international makeup brands but also a complex of local brands offering new developments and acting as a driving force for the makeup industry’s future.

Active Key Players in the Makeup Market

• Amorepacific (South Korea)
• Avon Products (United Kingdom)
• Chanel (France)
• Coty Inc. (United States)
• Estée Lauder Companies (United States)
• Kao Corporation (Japan)
• L'Oréal (France)
• LVMH Moët Hennessy Louis Vuitton (France)
• Mary Kay Inc. (United States)
• Natura & Co. (Brazil)
• Oriflame Cosmetics (Sweden)
• Procter & Gamble (United States)
• Revlon (United States)
• Shiseido (Japan)
• Unilever (Netherlands/United Kingdom), Other Active Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Makeup Market by Category
 4.1 Makeup Market Snapshot and Growth Engine
 4.2 Makeup Market Overview
 4.3 Skin & sun care products
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Skin & sun care products: Geographic Segmentation Analysis
 4.4 Hair care products
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Hair care products: Geographic Segmentation Analysis
 4.5 Deodorants & fragrances
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Deodorants & fragrances: Geographic Segmentation Analysis
 4.6 Makeup & color cosmetics
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Makeup & color cosmetics: Geographic Segmentation Analysis

Chapter 5: Makeup Market by Gender
 5.1 Makeup Market Snapshot and Growth Engine
 5.2 Makeup Market Overview
 5.3 Men
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Men: Geographic Segmentation Analysis
 5.4 Women
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Women: Geographic Segmentation Analysis
 5.5 Unisex
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Unisex: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Makeup Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions
  
 6.2 AMOREPACIFIC
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 AVON PRODUCTS
 6.4 CHANEL
 6.5 COTY INC
 6.6 ESTÉE LAUDER COMPANIES
 6.7 KAO CORPORATION
 6.8 L'ORÉAL
 6.9 LVMH MOËT HENNESSY LOUIS VUITTON
 6.10 MARY KAY INC
 6.11 NATURA & CO
 6.12 ORIFLAME COSMETICS
 6.13 PROCTER & GAMBLE
 6.14 REVLON
 6.15 SHISEIDO
 6.16 UNILEVER
 6.17 OTHER ACTIVE PLAYERS

Chapter 7: Global Makeup Market By Region
 7.1 Overview
 7.2. North America Makeup Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Category
   7.2.4.1 Skin & sun care products
   7.2.4.2 Hair care products
   7.2.4.3 Deodorants & fragrances
   7.2.4.4 Makeup & color cosmetics
  7.2.5 Historic and Forecasted Market Size By Gender
   7.2.5.1 Men
   7.2.5.2 Women
   7.2.5.3 Unisex
  7.2.6 Historic and Forecast Market Size by Country
   7.2.6.1 US
   7.2.6.2 Canada
   7.2.6.3 Mexico
 7.3. Eastern Europe Makeup Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Category
   7.3.4.1 Skin & sun care products
   7.3.4.2 Hair care products
   7.3.4.3 Deodorants & fragrances
   7.3.4.4 Makeup & color cosmetics
  7.3.5 Historic and Forecasted Market Size By Gender
   7.3.5.1 Men
   7.3.5.2 Women
   7.3.5.3 Unisex
  7.3.6 Historic and Forecast Market Size by Country
   7.3.6.1 Bulgaria
   7.3.6.2 The Czech Republic
   7.3.6.3 Hungary
   7.3.6.4 Poland
   7.3.6.5 Romania
   7.3.6.6 Rest of Eastern Europe
 7.4. Western Europe Makeup Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Category
   7.4.4.1 Skin & sun care products
   7.4.4.2 Hair care products
   7.4.4.3 Deodorants & fragrances
   7.4.4.4 Makeup & color cosmetics
  7.4.5 Historic and Forecasted Market Size By Gender
   7.4.5.1 Men
   7.4.5.2 Women
   7.4.5.3 Unisex
  7.4.6 Historic and Forecast Market Size by Country
   7.4.6.1 Germany
   7.4.6.2 UK
   7.4.6.3 France
   7.4.6.4 Netherlands
   7.4.6.5 Italy
   7.4.6.6 Russia
   7.4.6.7 Spain
   7.4.6.8 Rest of Western Europe
 7.5. Asia Pacific Makeup Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Category
   7.5.4.1 Skin & sun care products
   7.5.4.2 Hair care products
   7.5.4.3 Deodorants & fragrances
   7.5.4.4 Makeup & color cosmetics
  7.5.5 Historic and Forecasted Market Size By Gender
   7.5.5.1 Men
   7.5.5.2 Women
   7.5.5.3 Unisex
  7.5.6 Historic and Forecast Market Size by Country
   7.5.6.1 China
   7.5.6.2 India
   7.5.6.3 Japan
   7.5.6.4 South Korea
   7.5.6.5 Malaysia
   7.5.6.6 Thailand
   7.5.6.7 Vietnam
   7.5.6.8 The Philippines
   7.5.6.9 Australia
   7.5.6.10 New Zealand
   7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Makeup Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Category
   7.6.4.1 Skin & sun care products
   7.6.4.2 Hair care products
   7.6.4.3 Deodorants & fragrances
   7.6.4.4 Makeup & color cosmetics
  7.6.5 Historic and Forecasted Market Size By Gender
   7.6.5.1 Men
   7.6.5.2 Women
   7.6.5.3 Unisex
  7.6.6 Historic and Forecast Market Size by Country
   7.6.6.1 Turkey
   7.6.6.2 Bahrain
   7.6.6.3 Kuwait
   7.6.6.4 Saudi Arabia
   7.6.6.5 Qatar
   7.6.6.6 UAE
   7.6.6.7 Israel
   7.6.6.8 South Africa
 7.7. South America Makeup Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Category
   7.7.4.1 Skin & sun care products
   7.7.4.2 Hair care products
   7.7.4.3 Deodorants & fragrances
   7.7.4.4 Makeup & color cosmetics
  7.7.5 Historic and Forecasted Market Size By Gender
   7.7.5.1 Men
   7.7.5.2 Women
   7.7.5.3 Unisex
  7.7.6 Historic and Forecast Market Size by Country
   7.7.6.1 Brazil
   7.7.6.2 Argentina
   7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research