Makeup Base Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global makeup base market size was accounted for USD 12.2 billion, in 2018 and is anticipated to grow at 5.8% CAGR over the forecast period. Increasing participation of the number of women in the workforce and raising consciousness regarding physical appearance amongst millennial consumers worldwide are some of the major factors propelling the market. An increase in the number of digital campaigns through Instagram, YouTube, Facebook, Pinterest, and beauty blogs by social media influencers has been influencing the consumers to get their hands on new beauty products that also include a makeup base. For example, the number of users searching for “foundation for me” on Google has doubled from 2013 to 2018.

The rising number of consumers belonging to the millennial group along with a rise in their spending on cosmetics is propelling the demand for makeup base all across the globe. As a consequence, manufacturers are focusing on the millennial group by expanding their product portfolio and increasing online retail platforms. Over the last few years, the use of natural ingredients in cosmetics is gaining traction amongst this consumer group. Increasing awareness regarding the harmful effects of chemical-based makeup is encouraging consumers to switch to natural cosmetics. Consequently, the use of natural materials like plant oils, mineral pigments, and ingredients has risen considerably in this industry.

Also, companies have been adopting multichannel distribution that includes both online and offline stores to increase their sales and customer relationship. Social media platforms are of significant importance when it comes to marketing. As a consequence, digital marketing has been growing considerably in the industry. Manufacturers are collaborating with social media influencers to market their products. For example, James Charles, a YouTuber, collaborated with the brand Morphe to launch the MorpheXJamesCharleseyeshadow palette.

An increasing number of male makeup enthusiasts and male beauty influencers is anticipated to drive the scope of the industry in the coming years. For example, Jeffree Star, a celebrity, has his own makeup base product line. Even the beauty influencers belonging to the transgender community are coming up with their own product line. For example, Nikita Dragun has started her own line named “Dragun Beauty”.

Distribution Channel Insights

The offline channel dominated the makeup base market with more than 75.0% of the share in the total revenue in 2018. Major retail outlets of this distribution channel consist of hypermarkets and supermarkets and specialty stores. A huge number of consumers prefer buying cosmetic products like makeup base from offline stores as they enable the consumers to try the shade of the product they want before purchasing the makeup base product.

The online channel of distribution is anticipated to grow at the fastest CAGR of 6.3% over the forecast period. The products that sell out the most are purchased through online stores. E-commerce enables consumers to shop from anywhere and anytime and has a wide variety of products. Major e-retailers like Sephora, Ulta Beauty, Inc., and Amazon offer a wide range of products at good prices.

Product Insights

The foundation product segment dominated the product domain with over 40% share in the total revenue in 2018. Foundation is available in various forms like cream, liquid, stick, and cake that provide the skin with an even tone. It can also be used as a sunscreen and moisturizer of the skin. A large number of shades have been made available of all types of skin tones with manufacturers trying to introduce innovative products every now and then to stay competitive in the market.

Concealer is anticipated to grow at the fastest rate over the forecast period as it conceals the dark and pigmented marks of the face and enhances its features of the face. Concealers cover the dark circles, pigmented patches, and age spots of the skin. Over the last few years, concealer has been gaining popularity in the male grooming industry as well. For example, L.A. Girl Cosmetics has different shades in its concealer ranges to correct the uneven color patches of the skin.

Regional Insights

Asia Pacific region dominated the market with 30.5% of the share in the total revenue in 2018. The rising number of women in the workforce coupled with the increasing purchasing power of consumers has been propelling the demand for makeup base products. Major countries like India, Singapore, China, Japan, Hong Kong, Australia, South Korea, and Malaysia constitute the key markets of this region. Over the last few years, demand for time-saving and easy-to-use cosmetics products like makeup base has been rising in this region. Moreover, a rise in the number of middle-class consumers has been propelling the product demand in this region.

The Middle East and Africa are anticipated to grow at a steady pace in the coming years. Rising spending on cosmetics, coupled with the high income of the consumers in this region, is driving the market growth. UAE and Saudi Arabia are the key markets of this region.

Impact of COVID-19

The beauty industry has been hit severely following the outbreak of COVID-19. Sales in the first quarter have gone down significantly owing to widespread store closure. Offline store accounts for over 75% of the product sales in the makeup base market. Owing to the lockdown imposed by various governments across different parts of the globe, the supply chain for beauty and cosmetic products has been adversely affected. Additionally, consumer intends to spend less on beauty products including the makeup base has further resulted in a decline in product sales.

However, the online sales of makeup base products have increased significantly over the last few months and this trend is projected to witness a surge in the near future. Various leading market players are offering a huge discounts through online channels to attract consumers and clear their inventory.

Makeup Base Market Share Insights

The market is highly competitive in nature. Some of the major players of the market includeL'Oréal S.A.; LVMH Moët Hennessy - Louis Vuitton SE; Shiseido Company; Estée Lauder Companies; Coty Inc.; Avon Products, Inc.; Unilever; Amorepacific Corporation; Mary Kay Inc.; and Chanel S.A. Companies have been expanding their business strategy through various activities like mergers and acquisitions. For example, Kylie Cosmetics and Ulta Beauty have teamed up to make Kylie Cosmetics available in all the Ulta Beauty stores.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global makeup base market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Foundation
    • Concealer
    • Powder
    • Primer

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • The U.S.
    • Europe
        • Germany
        • France
    • the Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Saudi Arabia