Nails and make-up markets will continue to boom this year
Nail polish and make-up sales are set for growth this year, with the UK market expected to be worth £1.44bn by the end of 2012, a growth of 4% on last year.
In fact Mintel has branded the two sectors "recession-proof" after nails and make-up racked up combined sales of £1.38bn in 2011, up 8% on the previous year.
The market analyst company said continued active new product development, an expanding consumer base and fashion trends were supporting factors behind the value growth.
Of the two, nails reported the fastest growth last year, with the UK market worth £221m in 2011, a 23% growth oh 2010, when it was valued at £179m.
However, face colour cosmetics remains the largest market segment (when the market is divided into four sectors: face, eyes, lips and nails). Facial colour cosmetics accounts for 38% of total market value at £526 million according to Mintel.
The remainder of the sales are made up of eyes valued at £410m (accounting for 30% of total sales), lips, valued at £224m (16% of sector sales) and nails, worth £221m (15% of the market).
Prestige brands outperformed mass market brands, with many women favouring premium-positioned products at the expense of the mid-priced segment
Mintel's head of beauty and personal care insight Vivenne Rudd added:
"The market turned in a dynamic performance in comparison to other beauty categories like haircare and body care. Confidence is becoming something of a luxury in the current economic climate yet, eight out of ten British women feel more confident when wearing make-up. Sales in the market have continued to grow and will continue to do so for as long as the market delivers the feel-good factor even if the economy cannot.”