Global Make-Up Industry
The global make-up industry generated close to $35 billion in 2010, having recorded yearly growth in excess of 4% for the four preceding years, reports MarketLine. Face cosmetics represented the leading market segment, with over $12 billion in sales revenue in 2010 and accounting for more than 35% of overall market value. Market growth is expected to remain about the same until 2015, when the market should be valued at $42 billion.
The worldwide make-up market includes face make-up, eye make-up, nail make-up and lip make-up. Many color cosmetics manufacturers are concentrating on offering product ranges that have the same benefits as skin care products. Make-up no longer offers just color, ease of use and luminescence, but also includes protection against UV rays as well as moisturizing and anti aging benefits, reports Global Industry Analysts.
Product innovation has lead to a widening range of color cosmetics in new formats and textures. Demand for make-up with organic ingredients continues to rise, with consumers looking to limit the number of potentially harmful substances they use and opting instead for the benefits of natural elements such as vitamin E and plant extracts.
Make-up products are usually sold through various retail outlets including mass merchandisers, grocery stores, specialty retail stores and pharmacies.