A Look into Makeup Base Industry……Deep Analysis…..



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.
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.
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.
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.
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The global makeup base market size was valued at USD 12.2 billion in 2018. Rising participation of women in the workforce and increasing physical appearance consciousness among millennial consumers across the world are some of the key factors driving the market for makeup base. Expansion of digital campaign through YouTube, Instagram, Pinterest, Facebook, Twitter, and beauty blogs has been influencing the consumers to try new beauty products including makeup base. For instance, the Google search for “foundation for me” has doubled from 2013 to 2018.
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.
Increasing millennial population, along with a surge in their spending on cosmetics, is fueling the demand for makeup base over the world. As a result, manufacturers of this industry are targeting millennial consumer group by expanding the product lines and enhancing online retail platforms. Over the past few years, natural ingredients have been gaining remarkable traction among this consumer group. Rising awareness about the harmful impacts of chemical-based makeup is encouraging consumers to opt for natural cosmetics. As a result, use of natural raw materials such as plant oils, botanical ingredients, and mineral pigments has increased significantly in this industry.
In addition, companies have been adopting multichannel distribution that includes both physical and online stores in order to boost their sales and customer relationship. Social medial platforms play an important role in marketing. As a result, digital marketing has been expanding significantly in this industry. Producers are teaming up with the social influencers for their marketing. Surge in the online beauty tutorials in several social media platforms including Instagram, YouTube, and Facebook has been inspiring the consumers to experiment with new cosmetic products such as makeup base.
Increasing use of makeup among male consumers is expected to widen the scope for the industry in the near future. Companies such as TOM FORD have been targeting male consumers by introducing specialized products for men’s skin and giving these products manlier names. For instance, foundation for men often called tinted moisturizer. Furthermore, inadequate supply of makeup products such as makeup base for dark skin tones will enhance the opportunity of the makeup base manufacturers in the upcoming years.
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The offline distribution channel led the makeup base market and held over 75.0% share of the total revenue. Prominent retail outlets of this distribution channel include supermarkets and hypermarkets and specialty stores. A large number of consumers prefer to buy new cosmetic products such as makeup base from brick and mortar stores as these stores enable consumers to try the product before purchasing. It is an important factor for the consumers as these shades of products vary with each consumer’s skin complexion.
Online distribution channel is projected to expand at the fastest CAGR of 6.3% from 2019 to 2025. The bestselling products are often purchased through online stores. E-commerce allows consumers to shop anywhere, anytime, and has a wide range of products. Therefore, online stores have been attracting consumers over the world. Major e-retailers of this industry include Sephora; Amazon; Strawberrynet; FEELUNIQUE INTERNATIONAL LIMITED; and Ulta Beauty, Inc.
Grand View Research has segmented the global makeup base market on the basis of product, distribution channel:
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

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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