Global make-up sales to reach £34.5bn, driven by social media influencers
Sales of colour cosmetics are predicted to grow 6% year on year to reach US$48.3 billion (£34.5bn) in 2018.
Across the globe, analyst Mintel has forecasted the top five colour cosmetics markets in 2018 to be the US at $12.1bn (£8.7bn), Japan at US$6.4bn (£4.6bn), China at US$5.1bn (£3.7bn), the UK at US$2.7bn (£1.9bn) and South Korea at US$2.2bn (£1.6bn).
Mintel global colour cosmetics analyst Charlotte Libby said that social media-led purchases were becoming a macro-trend in the colour cosmetics category.
In a survey by Mintel, 66% of UK women aged 16-24 said 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 and pigmentation.”