Once seen as a desperate effort to look young and attractive has suddenly become so popular and desirable. Makeup and Skincare is winning the world through Twitter, Instagram, blogs or vlogs; the internet is flooded with “MUAs” sharing their makeup and skincare videos from all over.
In the recent past, the beauty industry has seen the peak of popularity and success. This ever changing and ever-growing industry has taken over the world like a storm.
Instagram beauties with perfect contour, plump lips slicked with a matte shade, thick brows and highlighted cheekbones – are this age’s standard of beauty.
From being a woman’s thing, makeup has now crossed gender barriers. Both men and women, have proudly taken the responsibility of spreading the knowledge of this art across the world.
It has motivated many to bring their creative ideas to life and set trends that can shape the future of this industry.
Camillo Pane, the CEO of Coty, said “Brands are created at the speed of light,”
Today’s world trends are led by the millennial, many industries including beauty and cosmetic, are continuously evolving with their changing tastes. It is a generation with innovative mindset that demands continues advancements. This is one of the biggest secrets behind the sudden rise of makeup.
According to Stefano Curti, Global President of Markwin’s Beauty Brand, half the growth in beauty is online and half through stores.
The demand and fascination for makeup is on a rise, encouraging many small, home grown and independent brands to step into the beauty segment too.
According to Marc Rey, the President & CEO of Shiseido Americas traditional makeup was down 1.3% in 2016 but independent brands were up 42.7%.
This further reflects a change in the taste of consumers and how every business has to abide to it, in order to survive in this competitive sea.
“Brands are reacting to this trend with marketing and messaging that caters for the filtered face,” says Jess Smith, visual trends researcher, The Future Laboratory forecaster.
However, not surprising enough, skin care enjoys twice the market share of makeup. Seems like women like that glow than caking it. According to the data the global skincare products market size, in 2018 was valued at 134.8 billion and is expected to expand at a CAGR of 4.4% from 2019. Accompanied by the boost of the e commerce platforms and other technological advancements the skincare industry is growing rapidly.
On the contrary to the makeup industry, the home remedies and natural skin care enjoy a dedicated viewership. Where MUAs are caking their faces, many skincare experts are promoting the age-old magic of natural ingredients.
Its visible results without the baggage of side-effects, has inspired many brands to launch and promote their “organic” lines.
Particularly in India, according to ReedSeer the Indian organic skincare product market is at $125 million expected to grow at a rate of 25% per annum. India being a country where natural and organic products are culturally embedded through Ayurveda, the scope of these skin care and make up brands is high here. Nykaa has seen an increase of 50% in the demand of natural beauty products especially across the Indian metro cities.
With more and more organic and natural brands catering to the Indian segment of beauty like Forest Essential, Kama Ayurveda, Organic Harvest and Soul Tree etc. the consumers have a wider option to choose from, thus creating a scope for other organic skin care products to come up in the market.
clearly, with the changing trends and behaviour of the consumers, the beauty and skincare products have created a separate and profitable segment in the worldwide market and with makeup and skincare winning the world, there is a scope of expansion and growth of the beauty segment in the global industry.