Published on : May 22, 2017
Albany, New York, May 22, 2017: According to the latest market study on the colour cosmetics market, Sales of colour cosmetics remained buoyant in 2016, with this category remaining a firm favorite among consumers. Also, the colour cosmetics category continues to show strong year-on-year growth, although this is being driven by trends rather than innovation. Market Research Hub (MRH) has been recently broadcasted this latest study to their massive research offerings and titled as “Colour Cosmetics- U.K. - May 2017”. In U.K., strong growth value is expected to continue, due to increasing consumer incomes and rise in awareness about personal care products in the region till 2021. Also, best- and worst-case forecast of UK retail value sales of colour cosmetics by the end of 2021 has been discussed in detail.
The research study starts by presenting U.K. market snapshot of colour cosmetics along with market trends, consumer’s behavior towards these products. Colour cosmetics are mainly personal care products that help to enhance the appearance of the human body. Color cosmetics refer to the colorants and cosmetic ingredients used for make-up, skin care, personal hygiene, hair care, fragrance and oral care. It includes products such as foundations, eye shadows, nail paints, powders, lipsticks, concealers, bronzers and other. Customers of every age group, whether the teenager, younger and older women prefers to buy these products.
According to the report findings, face and lip segments show the greatest growth. Trends in lip colour and face make-up have boosted many markets, with double-digit growth in the U.K. Additionally, Gel/UV nail polish becomes more popular and purchase of face make-up is on the rise. Indeed, NPD has shown an overall decline since 2014 whereas purchase is up, suggesting that make-up trends continue to encourage women to browse and buy in the sector. For the future growth, it is estimated that more women in employment present opportunities. Teenager market could be a focus in future, as they are very much conscious about their appearance. Apart from that, increasing consumer spending in colour cosmetics, innovation of new products, the significance of the in-store environment, rise in demand for colour cosmetics to reduce age-related skin imperfections, improving the quality of life, technological advancement in colour cosmetics are driving the market for colour cosmetics.
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In terms of market share, Prestige expands mass-market and L’Oréal shows biggest value growth. Moving further, the research highlights the latest innovation in the market and advertising and markets current activity. As per the report, advertising sees the rise in expenditure and; eyes & lips are the focus for advertising. The report further also adds that while diversity has been a key theme in advertising, there is still a way to go before this is reflected in NPD, which could offer advance growth to the sector.
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