North America Makeup Market Rides on Impact of Social Media and Fluctuating Trends
The makeup and color cosmetics market is one of the many segments of the personal care industry that has had manufacturers responding to the hectic lifestyle and on-the-go attitude of the North American population. Innovative, longer lasting makeup products with added functional benefits have entered the arena, generating a buzz among the young and the old alike. Decorative cosmetics with unique textures and finishes have attracted consumers across the various sub-segments. Here’s an overview of the North America makeup market.
Fashion Trends and Brand Loyalty Govern Product and Vendor Landscape
Makeup or color cosmetics is a vast segment of the beauty and personal care market that comprises eye makeup (eye shadow, eye liner, mascara, and others), facial makeup (foundation or concealer, blusher/highlighter/bronzer, powder, and others), lip products (lip liner, lip gloss, lipstick, lip balm, and others), and nail products (nail treatments and strengthener, nail polish, polish remover, and others).
The nail polish sub-segment is one of those categories of the makeup market that has witnessed a steep decline despite the improvement in the US economy. On the up side, higher-income consumers are going to nail salons on a more frequent basis instead of grooming their nails at home themselves. However, market analysts have found that the popularity and novelty surrounding trends such as nail art, nail polish strips, magnetic nail polish, and adorned nails has waned. These changes in fashion trends have impacted the sales of nail polishes in the North American makeup market.
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Major players such as L’Oreal USA, Avon, and Estee Lauder Cosmetics Canada currently cater to the ever-growing makeup market in North America. Market research reports have indicated that L’Oreal USA dominates the vendor landscape and its four leading brands – L’Oreal Paris, Maybelline, Essie, and Lancôme – have a rather strong mass and premium customer base. Maybelline enjoyed the leading position in the color cosmetics market last year. However, overall sales of premium makeup are a continuous challenge for the mass-market brand.
Impact of Social Media and Green Consciousness
The demand for mass and premium makeup products in North America is driven by a number of trends and factors. Rising concerns for safety of health, increasing consumer awareness regarding the hazards of synthetic and chemical ingredients in makeup, and growing green consciousness have led to a surge in demand for organic color cosmetics in North America. Technology and innovation in products and distribution channels has driven the organic makeup market.
While exploring new and popular looks has been an ongoing trend that fuels the color cosmetics market around the world, the adoption of the “natural” look is the latest trend in the market. Leading actresses and celebrities have been posting makeup-free “selfies” all over social media, triggering women to embrace a cleaner and more bare-faced look when it comes to makeup.
Keeping up the “less is more” theme in color cosmetics, the humble lip balm has been experiencing a revival. Targeted at the younger segment of consumers, sheer color lip balms with a fusion of flavors have hit the North American market. Even traditional makeup manufacturers are addressing the lip balm trend and introducing new products with innovative formulae.
The changing demographics and transforming lifestyle of the average consumer in North America brings with it high growth potential in the makeup market in the near future.
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