The research study covers the present scenario and growth prospects of
color cosmetics market for 2015-2019. To calculate the market
size, the report takes into account revenue generated from retail sales
of color cosmetics products.
and retail analysts highlight the following three major drivers
that are influencing growth of the global color cosmetics market:
- Social media and celebrity endorsements
- Rising demand for luxury products
- Affordable indulgence among young consumers
Social media and celebrity endorsements
According to the report, the presence of social media is a boon for any
industry as social investments help brands be more efficient with their
dollars. Consumers are now more engaged in social networking and blogs
to educate themselves about the personal and beauty care products. In
the nail make-up market, blogging sites like Nailed Blog dominate the
online discussion forum for nail color brands. Close to 25% of the
online users aged 22-25 years buy the products they see online.
“Celebrity endorsements are smart for business as they provide a channel
between the customers and the manufacturers and help in highlighting the
product. Gwen Stefani belted out seven new shades and finishes of nail
polish with OPI. Shiseido signed Lady Gaga as chief brand ambassador in
January 2015,” says Brijesh Kumar Choubey, lead cosmetics
and toiletry analyst at Technavio.
The report also states that around 25% of the Internet users aged 16-24
years discovered new brands through celebrity endorsements, and for the
group aged 25-34 years it was 22%, while for the group aged 35-44 years
it was 14%.
Rising demand for luxury products
Manufacturers are now expanding the luxury segment to cover the full
spectrum of the cosmetics market, from bath products to nail polishes.
Designers like Marc Jacobs and Tom Ford are extending their presence in
the premium beauty segment. For instance, Marc Jacobs has opened a
luxury store in Manhattan, US, dedicated solely to fragrances and other
cosmetic products. In 2013, Tom Ford launched his own cosmetics line.
Also, Giorgio Armani, Michael Kors, and Tory Burch have teamed with the
top industry players to set up a different product portfolio. Estée
Lauder is focusing more on younger consumers for its top brands Clinique
and Estée Lauder by launching new products to boost revenue growth, for
instance, the luxury brand New Dimension face and eye make-up kit
launched in 2015.
Affordable indulgence among young consumers
The rising demand for color cosmetics among the younger population is
one of the primary drivers of the market. The engagement is high among
women aged 25-34 years who are interested in the benefits of the product
and prefer long-lasting products and natural claims. Around 91% of girls
between the ages of nine and 17 years use some sort of nail product,
making it one of the most popular cosmetic items among teen girls.
Fashion trends like nail art are transforming a nail into a stylish
According to Brijesh, “Other than the trending concepts like glitter,
magnetic and metallic finishes, and nail art, women are generating high
interest in natural nail care concepts, as well as products that help in
ease of use and convenience. The improving economy is prompting
consumers to indulge in nail care products as an affordable luxury.”
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value chain, including vendors, service providers, distributors,
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