Makeup Base Market Size Worth $18.0 Billion By 2025 | CAGR: 5.8%

The global makeup base market size is expected to reach USD 18.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% over the forecast period. Rising awareness about physical appearance, coupled with increasing purchasing power in developing countries such as China, Brazil, and India, is fueling demand for makeup base over the world. In addition, rising female participation in the global workforce has been impacting the market growth positively. Over the past few years, importance of digital marketing has been growing significantly in this industry owing to influence of social media on consumers. Therefore, manufacturers of makeup base are emphasizing on digital marketing by collaborating with social media platforms and social influencers.
The foundation product segment dominated the global market in 2018, accounting for over 40.0% share of the total revenue. Wide range of shades available in liquid, cream, cake, and stick forms has been expanding the consumer base of the industry. Popularity of the cushion foundation has been increasing significantly over the world owing to its time saving and easy to use features. Key manufacturers including Amorepacific Corporation, L'Oréal S.A., and Christian Dior SE have included this product in their product portfolio.
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As of 2018, Asia Pacific held the largest share of 30.5%. Australia, China, Hong Kong, India, Japan, Malaysia, Singapore, and South Korea are the prominent markets of this region. Increasing number of middle-class consumers has fueled the demand for luxury beauty products including makeup base in Asia Pacific.
Major competitors in the industry for makeup base include L'Oréal S.A.; Shiseido Company; LVMH Moët Hennessy - Louis Vuitton SE; Coty Inc.; Estée Lauder Companies; Avon Products, Inc.; Amorepacific Corporation; Unilever; Chanel S.A; and Mary Kay Inc. Companies have been strategically expanding their business through activities such as mergers and acquisitions. For instance, in June 2017, Unilever acquired Hourglass, a luxury color cosmetics brand, in order to expand its product portfolio.
Further key findings from the report suggest:
• In terms of product, foundation dominated the makeup base market in 2018, accounting for more than 40.0% share of the total revenue
• In terms of distribution channel, the offline segment held the largest share of over 75.0% in 2018. Online distribution channel is expected to expand at the fastest CAGR of 6.3% from 2019 to 2025
• Asia Pacific is expected to witness the fastest growth owing to increasing working women professionals and growing spending on personal grooming
• Shifting inclination towards natural cosmetics among millennial women is expected to prompt the industry participants to opt for the product innovation.
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Grand View Research has segmented the global makeup base market on the basis of product, distribution channel, and region:
Makeup Base Product Outlook (Revenue, USD Million, 2015 - 2025)
• Foundation
• Concealer
• Powder
• Primer
Makeup Base Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Offline
• Online
Makeup Base Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o France
• Asia Pacific
o China
o Japan
• Central & South America
o Brazil
• Middle East & Africa
o Saudi Arabia
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News Release: Makeup Base Market Size Worth $18.0 Billion By 2025 | CAGR: 5.8%
Submitted on: July 30, 2020 12:33:47 PM
Submitted by: sitakant
On behalf of: www.prhub.com