Presence of Social Media Will Remain a Boon for the Global Color Cosmetics Market Through 2019, Says Technavio

LONDON–(BUSINESS WIRE)–Technavio
analysts forecast the global
color cosmetics market to post a CAGR of more than 5% by
2019, according to their latest report.

The research study covers the present scenario and growth prospects of
the global
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.

Technavio consumer
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
accessory.

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.”

Browse Related Reports:

• Global
  Hair Color Market- Market Analysis 2015-2019
• Cosmetics
  Market in Brazil 2015-2019
• Global
  Lipstick Market 2015-2019

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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+1 630 333 9501
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