Global sales of colour cosmetics expected to reach US$ 48.3bn in 2018
According to new research from Mintel, sales are predicted to grow 6% from US$ 45.5bn in 2017.
Across the globe, the top five colour cosmetics markets in 2018 are forecast to be: the US (US$ 12.1bn), Japan (US$ 6.4bn), China (US$ 5.1bn), the UK (US$ 2.7bn) and South Korea (US$ 2.2bn).
Charlotte Libby, global colour cosmetics analyst, has identified one of the hottest macro-trends in the colour cosmetics category will be social media led purchases.
According to Mintel, 41% of Chinese colour cosmetics users are influenced by celebrity beauty bloggers and vloggers to buy products, while 66% of UK women aged 16-24 say it's easy to learn new beauty techniques from the internet.
“The success of influencers has shown that people buy the personality, and not simply the products. It has become more important for brands to have a personality, to showcase their founders, and tell their story in order be relatable for consumers,” said Libby.
“As fashions change, new ‘selfie-friendly’ zones of the face are receiving more attention. Meanwhile, the Youtube-born 'boy beat' complexion trend is catching on, encouraging make-up users to switch to sheer bases and embrace so-called flaws such as freckles, pigmentation.”