Makeup Market Size Expected to Surge to USD 75.23 Billion by 2030

According to Maximize Market Research report, the Makeup Market size was valued at USD 51.31 Bn. in 2023 and the total revenue is expected to grow at CAGR 5.62% through 2024 to 2030, reaching nearly USD 75.23 Bn.

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Makeup Market Overview:

Makeup, also known as color cosmetics, includes a wide variety of cosmetic products used to enhance the appearance of the skin and features, especially the face, eyes, and nails. These products, which include lipsticks, foundations, concealers, mascaras, eyeliners, and more, are widely used by consumers to create a polished and refined look. Makeup is popular among working professionals, college students, and beauty enthusiasts who use these products daily to feel confident and express their individuality. The makeup industry has experienced steady growth as it is considered an essential part of personal grooming and beauty routines worldwide.

Drivers in the Makeup Market:

The Makeup Market is driven by the increasing demand for innovative and high-quality cosmetic products. Consumers, especially millennials and Gen Z, are highly interested in makeup products that not only enhance appearance but also offer skincare benefits, such as moisturization and anti-aging properties. This has led to the rise of hybrid makeup products that combine cosmetics with skincare elements, further boosting market growth. Additionally, the growing influence of social media and beauty influencers has significantly contributed to the rising popularity of makeup products, with consumers being more inclined to try new and trending items to achieve the latest beauty looks.

Makeup Market Key Trends:

One of the key trends in the Makeup Market is the rising demand for cruelty-free, vegan, and eco-friendly products. As consumers become more environmentally conscious and ethically motivated, there is a growing shift toward makeup brands that promote sustainability and cruelty-free testing practices. This trend is influencing brands to innovate and create products that align with consumers’ values, including packaging that is recyclable or biodegradable, as well as ingredients that are sourced responsibly. Additionally, there is an increasing interest in customization, with consumers seeking products tailored to their skin tones and types, pushing brands to develop more inclusive ranges.

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What is expected growth of Makeup Market by Product segmentation?

The Makeup Market is expected to see strong growth across various product segments, with the largest demand anticipated for foundation, lip products, and eye makeup. Foundation products, including liquid foundations, powders, and concealers, are projected to continue leading the market due to their essential role in daily beauty routines. Lip products such as lipsticks, glosses, and lip liners are also expected to see robust growth, driven by the increasing popularity of bold and diverse lip colors. Additionally, the demand for eye makeup, including mascaras, eyeliners, and eyeshadows, is expected to rise as consumers increasingly experiment with different looks.

Country-Specific Insights

Makeup Market Growth Opportunities in Austria

Austria’s makeup market is witnessing steady growth driven by the increasing demand for premium cosmetic products and growing consumer consciousness about personal grooming. Companies like L'Oréal and Estée Lauder are expanding their product lines to cater to a more diverse consumer base, including the rising demand for male grooming products. The popularity of organic and cruelty-free cosmetics in Austria has also encouraged brands to innovate and provide more eco-friendly options.

Makeup Growth in Belgium

In Belgium, the makeup market is expanding due to the rising demand for high-quality cosmetics driven by an increasing number of working women and young consumers. Shiseido Company, focusing on the development of skin-friendly, natural makeup products, has gained significant traction in Belgium. The growing preference for online shopping is also boosting the distribution of makeup products, with many consumers opting for e-commerce platforms that offer a wide variety of choices.

Makeup Trends in Germany

Germany is experiencing significant growth in the makeup market, driven by the increasing awareness of beauty trends and innovations. The demand for natural and vegan makeup products is on the rise, with companies like Avon Products Inc. leading the way in offering clean beauty solutions. Moreover, the growing popularity of makeup tutorials and influencer-driven trends has propelled the demand for products such as foundations, lipsticks, and eyeliners, making Germany one of the most promising markets in Europe.

Makeup Consolidation in France

The French makeup market is seeing consolidation as major global beauty companies merge with local brands to expand their market share. L'Oréal has recently acquired smaller, eco-conscious brands to cater to the increasing demand for natural and cruelty-free cosmetics. This strategic move is expected to enhance the availability of diverse products and solidify the company’s position as a market leader in France’s makeup industry.

Makeup Updation in Italy

In Italy, the makeup market is undergoing significant updates with the introduction of products that cater to changing consumer preferences, such as the demand for long-lasting, high-performance cosmetics. Revlon Inc. has updated its product line to focus on makeup items that provide all-day wear and multi-functional use, responding to the needs of busy professionals. This focus on innovation is driving the growth of the makeup market in Italy.

Makeup Trends in Spain

Spain’s makeup market is showing strong growth, particularly in the online segment, as consumers embrace the convenience of e-commerce platforms. Mary Kay Inc. has been at the forefront of digital transformation, offering virtual consultations and makeup tutorials to Spanish customers. The rise in disposable incomes and the growing popularity of international beauty brands in Spain are contributing to the increasing demand for makeup products, particularly in urban areas.

Makeup Growth Opportunities in the UK

In the UK, the makeup market is experiencing growth driven by the increasing adoption of cruelty-free, vegan, and sustainable products. Estée Lauder has expanded its product portfolio in the UK to include eco-friendly makeup lines, addressing the rising consumer interest in ethical beauty products. The UK market is also benefiting from the increasing influence of beauty influencers, who are driving trends such as bold lip colors and innovative eye makeup techniques.

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Segmentation Analysis of the Makeup Market:

by Product

Foundation

Concealer

Powder

Primer

by Distribution Channel

Online

Offline

by Application

Area

Lips

Eyes

Face

Nails

Who is the largest manufacturers of Makeup Market worldwide?

L'Oreal

LVMH Moet Hennessy Louis Vuitton

Coty Inc.

Kao Corporation

Oriflame

Estée Lauder Inc.

Unilever

Revlon, Inc.

Coty Inc.

The Procter & Gamble Company

Avon Products Inc.

Shiseido Co., Ltd

Kao Corporation

Amorepacific Corporation

Mary Kay Inc.

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