Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Skin care encompasses a variety of procedures that help to maintain the integrity of the skin, improve its appearance, and alleviate skin disorders. They can include proper nutrition, avoiding excessive sun exposure, and using emollients appropriately. Cosmetics are made up of a combination of chemical substances taken from either natural or manufactured sources. Cleansers, toners, serums, and moisturisers are examples of skin-care cosmetics that can be used to wash, exfoliate, and protect the skin while also replenishing it.
The Global Facial Skincare & Makeup market is estimated to surpass US$ 182,649.0 million by the end of 2027 in terms of revenue, exhibiting a CAGR of 4.5% during the forecast period (2020 to 2027).
A substantial percentage of the population are millennials and older. Further, disposable income among the population has witnessed a substantial rise in the recent years due to growth in the industrial and tourism sector. This factor has led to a growth in the demand for skincare and makeup products in the region. About 70% of the Chinese population is above the age of 25, and approximately 50% of the people in this age group are females, amounting to about 493 million individuals. Increasing information among users about skincare is the primary driver for the demand of anti-aging skin products.
Among regions, Asia Pacific held dominant position in the global facial skincare & makeup market in 2019, accounting for 32.3% market share in terms of revenue, followed by Europe and North America. The aging population is the primary factor responsible for the growth in demand for products such as anti-aging cream, facial liquid serums, face oil, and night cream. Further, majority of the countries in Asia Pacific are tropical in climate receiving extensive sunlight throughout the year. This is a major factor driving the demand for sunscreen products in the country.
Figure 1. Global Facial Skincare & Makeup Market Revenue Share (%), By Region, 2019
Lagging awareness regarding skincare products in the target population may restrict the growth of the cosmetics skin care market substantially. For facial skincare and makeup products, there is a requirement for significant market presence and promotional activities, with an emphasis on educating the target demographic about the products. Another restraint is the government's strict regulations. Despite the fact that the facial skincare and makeup market is growing at a rapid pace, numerous regulations still prohibit the use of certain chemicals as ingredients in skincare and makeup products.
Facial Skincare & Makeup Market Report Coverage
||Market Size in 2019:
||US$ 145,532.3 Mn
|Historical Data for:
||2017 and 2018
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 182,649.0 Mn
- Regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
- By Product Type: Skincare (Cleanser, Cream & Lotion, Face Oils, Face Packs, Face Wash, Other Skincare’s, Scrubs, Serum, Shaving Products, Soap), Makeup (Eye Makeup, Face Makeup, Lip Makeup, Other Makeup)
- By Form Type: Concentrates, Emulsions, Foam, Gel, Other Forms, Powder, Solids, Sprays
- By Distribution Channel: Drug Stores, Online Retail, Specialty Stores, Supermarkets & Hypermarkets, Others
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.
- Increasing demand For Anti-aging and Anti-pollution products
- Online retail platforms and social media have been a major source of revenue for facial skincare and makeup market
|Restraints & Challenges:
- Stringent government regulations on use of certain chemicals in skincare & makeup products
Anti-aging crème products have witnessed a substantial rise in demand 2020, the trend is expected to continue during the forecast period. This is primarily due to the availability wide range of raw materials in Latin America. Vegan cosmetics are rapidly growing in demand across North America. Vegan cosmetics primarily have lesser number of ingredients and in some cases have no preservatives. Vegan products are also known as cruelty free products and are expected to form a major trend in the North American market during the forecast period. The influence of social media & the emerging trend of selfie has led to an increase in the interest of consumers for face makeup products, particularly among the young population.
Figure 2. Global Facial Skincare & Makeup Market Revenue Share (%), By Form Type, 2019
On the basis of form type, in 2019, the emulsions segment accounted for 21.4% of the revenue share. The emulsions industry has played the most significant role in the expansion and development of the facial skincare & makeup market across the globe. Teadora offers a range of products to the global market based on Brazilian botanical products. Some of the major formulations the company offers include emulsions, lotions, powder, and crème. Cover FX offers a range of vegan products including emulsions, powder, solids, and serums.
Global Facial Skincare & Makeup Market - Impact of Coronavirus (Covid-19) Pandemic
The covid-19 pandemic has had a substantial impact on the color cosmetics market, however, a substantial increase in demand for skincare products has been witnessed in 2020. Though, the increase in demand for skincare products may be limited until the pandemic lasts, skincare products manufacturers are focused on its development to gain a larger market share. Also, The Covid-19 pandemic has increased the stress levels for the entire global population in 2020, however, the Brazilian Population has started using numerous stress relieving skincare products.
Key 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.