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The makeup tools market share is expected to increase by USD 862.43 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.85%.
This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (makeup brushes, other tools, and disposable makeup tools) and geography (North America, Europe, APAC, South America, and MEA). The market report also offers information on several market vendors, including CHANEL Ltd., Coty Inc., e.l.f. Beauty Inc., L'Oreal SA, LVMH Moet Hennessy - Louis Vuitton, Natura &Co., Oriflame Group, Revlon Inc., Shiseido Co. Ltd., and The Estee Lauder Companies Inc. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The premiumization of makeup tools is notably driving the market growth, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Market Driver
Premiumization of makeup tools is the key driver influencing the growth of the market. The demand for premium makeup tools is increasing among consumers, especially professional makeup base artists. The premium makeup tools offered by market vendors are long-lasting and facilitate easy makeup application. Premium quality products are generally offered by reputed brands, such as L?Oréal and ETUDE HOUSE Inc. (ETUDE HOUSE), which further builds consumer confidence regarding product performance. Consumers are willing to pay a high price for these premium makeup tools offered by renowned brands. The increasing premiumization of makeup tools will fuel the growth of the market.
Key Market Trend
The emergence of beauty and makeup tutorials is the key trend influencing the growth of the market. The emergence of beauty and makeup tutorials will be one of the critical market trends that will drive market growth. Budget-conscious consumers and millennials are increasingly adopting the DIY trend to learn to do makeup. This has led to the emergence of beauty and makeup tutorials that range from basic makeup tricks and tips to specific makeup and beauty tips. The increased penetration of smartphones and the internet has further boosted the popularity of beauty and makeup tutorials. Easy access to such tutorials has encouraged consumers to use different types of makeup products and tools at home. The emerging beauty and makeup tutorials will boost the demand for makeup tools in the forthcoming years.
Key Market Challenge
The growing popularity of makeup applications using hands is the major hindrance to the growth of the market. Several makeup artists and bloggers prefer using hands and fingers for makeup applications. Fingers enable the concentrated application of makeup materials on the skin and are preferred over makeup tools, such as brushes and sponges, for applying foundation and concealer on the face. Beauticians share video blogs demonstrating how to apply blush or contour the face. Eye makeup - eyeshadow application is demonstrated with the help of fingers, which educates consumers on doing makeup without using makeup tools. Web portals, such as Condé Nast and Bustle, have blogs and articles that demonstrate makeup application methods and tricks using hands and fingertips. Consumers who prefer to do makeup without using any makeup tools are more influenced by various videos that suggest and recommend the use of hands and fingers for makeup application. Such videos and blogs limit the adoption of makeup sponges and brushes, which hamper the volume of sales of makeup tools globally. Thus, the growing popularity of makeup applications with the help of hands and fingers is likely to hamper the growth of the global market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global makeup tools market as a part of the global personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global personal products market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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