The UK is the largest market for colour cosmetics in Europe representing 29 per cent of absolute growth in Western Europe over 2010-15, so is key for developments in the industry.
In the UK, the premium segment plays an important role and the UK is forecast to deliver some 36 per cent of all growth in the region’s premium colour cosmetics sales between 2010 and 2015, according to Euromonitor.
Chipilkatti noted that against a backdrop of on-going global economic instability, the make-up category is proving to be somewhat of a ‘sweet spot’ of opportunity in the personal care space.
Consumer demand for colour cosmetics is being buoyed by progressive category innovation as well as consumers’ ‘thirst’ for colour and their willingness to experiment, says the analyst.
Another market report focusing on Europe’s largest market, the UK, make-up sales appear to be recession proof.
The UK make-up market has been estimated to increase at a compound annual growth rate (CAGR) of 4.7 per cent over the next five years, rising from a valuation of $2.1 billion in 2012, to peak at a value of $2.6 billion by the end of 2017, according to Companies & Markets.
The make-up market turned in a dynamic performance in comparison to other beauty categories like hair care and body care, and much like the market in North America, continued active new product development, an expanding consumer base and fashion trends are all additional supporting factors behind the value growth.
And the US market itself, has seen product innovation and demand for organic ingredients boost sales in the country, with steady growth also expected in the next few years.
Revenues within the US make-up market have been forecast to rise at a compound annual growth rate of 4.1 percent over the next five years, increasing from revenues of $6.8 billion in 2012, to a value of $8.3 billion by the end of 2017.
One of the biggest manufacturers in the colour cosmetics field is Coty, bothin the US and Europe, and the announcement that Johanna Businelli will be promoted to the newly created role of senior vice president Marketing Color Cosmetics, Coty Beauty, strengthening its operations, was big news.
Finally, given the connection with fashion beauty and aesthetics, Italian packaging supplier Lumson has also traced four major trends that have filtered down from the world of photography, music and literature to influence packaging and themes in the colour cosmetics segment.