Makeup Market Poised for Growth, Expected to Reach $46.19 Billion by 2028

June 25, 2024 06:06 AM PDT | By EIN Presswire

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Makeup Market Poised for Growth, Expected to Reach $46.19 Billion by 2028 — Image source: EIN Presswire

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LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The makeup market, encompassing the production, marketing, and sale of cosmetic products designed to enhance or alter one's appearance, has seen robust growth in recent years. It is projected to grow from $35.16 billion in 2023 to $37.60 billion in 2024, with a compound annual growth rate (CAGR) of 6.9%. This growth can be attributed to various factors such as the influence of social media, fashion trends, film and television, beauty bloggers, technological advancements, and cultural diversity.

Rise of Male Makeup Market and Continued Online Sales to Propel Future Growth
Looking ahead, the makeup market is expected to continue its strong growth trajectory, reaching $46.19 billion by 2028, with a CAGR of 5.3%. Key drivers in the forecast period include the rise of the male makeup market, ongoing trends in the fashion industry, increasing online sales through digital platforms, subscription models, and collaborations between makeup brands and social media influencers. Major trends anticipated include the development of innovative clean beauty products, multi-functional makeup items, advancements in virtual try-on technologies, and a shift in traditional beauty norms to appeal to a broader audience.

Explore the global makeup market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample_request?id=14419&type=smp

Major Players and Market Trends
Leading companies such as LVMH, Procter & Gamble, L'Oréal Paris, and Estée Lauder are focusing on advanced solutions like complexion products to maintain a competitive edge. For example, Makeup Revolution recently launched the Skin Silk Serum Foundation and Bright Light Face Glow, enhancing their lineup with products that offer skincare benefits alongside cosmetic enhancements.

Makeup Market Segments
• Product: Foundation, Concealer, Powder, Primer
• Application: Area, Lips, Eyes, Face, Nails
• Distribution Channel: Online, Offline

Regional Insights: North America Poised for Rapid Growth
Asia-Pacific dominated the makeup market in 2023, while North America is expected to be the fastest-growing region in the coming years. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

Access the complete report for an in-depth analysis of the global makeup market:
https://www.thebusinessresearchcompany.com/report/makeup-global-market-report

Makeup Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Makeup Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on makeup market size, makeup market drivers and trends, makeup market major players, competitors' revenues, market positioning, and market growth across geographies. The makeup market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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