Premium Beauty News – Global colour cosmetics sales to grow 6% in 2018, forecasts Mintel
Global sales of colour cosmetics are expected to reach US$ 48.3 billion in 2018, up 6% from US$ 45.5 billion in 2017, according to new research from Mintel. The US (US$ 12.1 billion), Japan (US$ 6.4 billion), China (US$ 5.1 billion), the UK (US$ 2.7 billion) and South Korea (US$ 2.2 billion) are forecast to be the top five colour cosmetics markets in 2018.
Mintel has identified four macro-trends in the category: social media, sustainability, transparency, and hybridisation.
As the success of influencers has shown that people buy personality, and not simply the products, it has become more important for brands to have a personality.
Social media gives brands a way to build a more intimate relation with consumers. They also encourage makeup users to adopt new habits.
“As fashions change, new ’selfie-friendly’ zones of the face are receiving more attention,” says Charlotte Libby, Mintel’s Global Colour Cosmetics Analyst.
The whole beauty industry is shifting towards natural and organic products. Colour cosmetics makes no exception with an increased attention on product origin and quality of ingredients. In such a context, brands will be expected to demonstrate their ethical policies and consideration of resources and alternatives.
“Consumers are drawn to brands that act responsibly. Attempting to reduce the carbon footprint by tackling waste is an area in which colour cosmetics brands can innovate. Alternative materials like bamboo, coconut husk and rice bran have been a growing trend in packaging,” says Charlotte Libby.
Young consumers want to be sure the companies and brands they buy from align with their personal views.
Brands need to convince consumers their positioning is genuine. “A strategy involving charitable donations needs to be long term and treated appropriately, becoming part of the core business of the company,” adds Charlotte.
As consumer demand for make-up with skincare benefits increases, there is more opportunity for brands to develop hybridisation between categories.
“As part of growing concerns around pollution, face make-up can act as another layer of protection. Hence, it is important that colour cosmetics incorporate skincare benefits such as hydration and UV protection. Probiotics also have a chance to grow; a prominent trend in skincare, connecting good bacteria to healthy skin, they are increasingly being used in colour cosmetics too,” concludes Charlotte Libby.
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