Here, we get the latest market insights from Euromonitor for the wider global market, and shine a particular spotlight onto Europe.
Global market: relevant, resilient and reactive colour cosmetics
Global colour cosmetics grew by 7% in 2015, which equated to a USD3.4 billion rise in value, proving to be the most dynamic and most valuable year of growth for the category over the review period.
While the beauty and personal care industry struggled to make significant headway in 2015, colour cosmetics demonstrated its relevance, resilience and ability to react quickly to a rapidly evolving consumer and retail landscape.
The market accounted for 18% of overall industry growth in 2015, compared with 14% of value growth in 2014, as colour cosmetics steadily becomes more established in emerging markets
Western Europe is home to four of the top 10 largest colour cosmetics markets globally.
The region continued to grow over the review period, despite market maturity and economic uncertainty.
The UK continues to underpin a substantial amount of growth, as the largest market in the region, alone contributing over a third of the value added to the category between 2010 and 2015.
Moving forward, the UK is plagued by the prospect of Brexit in 2017 and beyond. Rumblings of price rises from the likes of Unilever have reminded consumers that exiting the EU might come at a cost.
Colour cosmetics products manufactured on the continent are already becoming more expensive than before the drop in the value of the pound – something that is expected to intensify once Britain leaves the EU, with the costs being absorbed by consumers.