mac cosmetics market share 2020

So, where do some of the top beauty brands and retailers rank in terms of organic search market share? The outbreak of the COVID-19 pandemic, manufacturers have increased social media advertisement of using herbal skin care products to reach a large consumer base. In 2021, the beauty industry is taking with it many learnings and permanent shifts from the past year. This includes Asian beauty markets like China, which is a hotbed for virtual beauty thanks to its advanced mobile technologies and tech giants. Age Distribution 18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 65+ Gender Distribution Female 75.65% Urban offers on-demand outdoor fitness, osteopathy, and physiotherapy services in addition to massages and nail care. For instance, in October 2022, Earth Rhythm announced its entry into the offline retail market with the launch of 12 kiosks in India's Tier 1 and Tier 2 cities, New Delhi, Chennai, Chandigarh, Raipur, Bangalore, Mumbai, and Dehradun. How much is the global makeup market worth? Though customer demand and preferences will evolve as beauty standards do, the fundamental human desire to be attractive and achieve wellness through self-care will remain the same. Book your free consultation and let our research experts help you with your needs/problems. All Rights Reserved. The emerging glamor industry is boosting the demand for various skincare products among the young generation that can alter their appearance. CPG incumbents are also making moves. Estimated market of more than 200 billion euros, Growth of the worldwide cosmetics market over 10 years (in %), Breakdown of the market by geographic zone (in %), Breakdown of the market by business segment (in %), Growth of the skincare market compared with the global beauty market. Soothe connects customers with on-demand massage therapists who offer deep tissue, sports, and prenatal massages, among others. Glosslab, for instance, has developed a waterless manicure that it offers to clients in its own salons on a membership basis. Companies that sell primarily to Millennials and Gen Z will want to focus on Instagram, TikTok, Snapchat, YouTube, and Pinterest (to a degree). Virtual try-ons are a key decision-making tool to assist with buying beauty products, especially makeup. A look at how skincare valuation multiples are faring. Face Segment to Dominate the Market Owing to Rising Product Demand. Remarkable job and great efforts by your research team. Chile-based Algramo, which expanded to New York in August 2020, also offers opportunities for refilling household products, though beauty and personal care is likely a future opportunity thanks to its partnerships with Unilever and Nestl. Beauty brands from LOral to Smashbox to Benefit Cosmetics offer virtual try-on via tech by ModiFace (acquired by LOral in 2018), while social media platforms like Facebook and Youtube have integrated virtual cosmetics try-on into ads and influencer videos. It certainly looks that way. Meanwhile, incumbent brands like Chanel, YSL, and others are revamping their product launch and marketing strategies to attract younger shoppers. 2020 was a redefining year for every industry including beauty. LOral has been a pioneer in social commerce through the years, including livestream shopping. If beauty companies publish content around informational keywords and optimize the on-page elements, then they can more effectively reach customers who are in the early stages of the buying process and nurture the relationships until prospects are ready to purchase. Stay abreast of your interest areas. Collectively, all strategies adopted by manufacturers drive the global cosmetics market. As a Premium user you get access to background information and details about the release of this statistic. Previous perks have included MAC Cosmetics coupons for 25% off storewide and a free gift with orders of $65+. With the flourishing fashion and entertainment industry, the demand for latest cosmetics is increasing significantly. The virtual Shiseido store uses virtual reality (VR) technology to let customers browse the first, second, and basement levels of the flagship location. Virtual try-ons are not new. The segments of cosmetics market are category, gender, distribution channel, and region. In January 2021, Hims & Hers which launched as a holistic male wellness brand through its suite of haircare, skincare, and supplement products but has since expanded to womens wellness went public in a $1.6B SPAC deal. Amazon, Apple, and Google all offer voice-enabled smart speakers and have designs on deeply integrating their virtual assistants into peoples home lives. Therefore, increase in awareness of probable side effects of cosmetics and skin concerns among customers is an important factor that limits growth of the market as a whole. (For more on the future of the smart home, clients can check out this report.). For instance, in April 2022, RENEE Cosmetics, an Indian cosmetic brand, announced the launch of its new product range called Face Base for Indian skin types. The market is projected to grow from USD 41.85 billion in 2022 to USD 61.34 billion by 2029, exhibiting a CAGR of 5.61% during the forecast period. The definition is rather broad, and means the publication and distribution of content across all platforms. But the benefits of personalization, including serving those missed in mass-market product offerings, will push brands to strike a balance between preserving privacy and innovating for new revenue streams. The rising popularity of powder foundations among young users who demand light coverage is driving segmental growth. The Innovation Lab in Queens Center is not the brands trial run. The Asia Pacific region dominated the global market in 2021. As a result, youll create the sort of lasting relationship that often ultimately leads to a purchase. Refill models are being embraced across different beauty verticals. formId: "6249b226-16fe-449e-89bb-234c2fdc506f" The supermarkets & hypermarkets segment is expected to capture a significant makeup market share during 2022-2029. All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. Product Modernization in Terms of Cosmetic Items to Expand Product Demand. As more consumers link beauty to general well-being, some healthcare companies are positioning their products to grab a slice of the beauty market while leaning on their science-based authority. Uniquely, The Innovation Lab is the integration of the best of both digital and retail worlds coming together for an AI beauty encounter. It is also a generational development: according to Google, almost 70% of millennials watched an online tutorial on YouTube during the year. TikTok, in particular, is a massive opportunity for brands, driving viral sales and reshaping consumer preferences. From virtual try-on features to AI-enabled skincare analysis to waterless beauty products, the pandemic has accelerated once fringe technologies. Perfect Diary uses the same production factories as large, reputable luxury brands like YSL and Dior. What will be the market value in the future? However, ingredient transparency doesnt only mean making it clear what ingredients are included, then educating users on how effective they are it also means providing details on the ways those ingredients are sourced and moved. T&C*. Presently, cosmetics have become an indispensable feature of modern lifestyle of individuals. Who are the major players operating in the market? Each virtual look is created based on whats trending and popular near each respective store. Large key companies across the globe focus on developing sustainable face products that are safe for the environment. However, more sophisticated approaches are starting to emerge, such as that taken by early-stage startup Zamface, which offers a platform to help viewers find a livestreamer with similar facial features to them. As more people research and purchase beauty products online, its critically important for brands in the cosmetics industry to seize the growing opportunity of organic search. Similarly, cosmetics brand Kiko Milano opened a concept store in Italy in 2016 featuring in-store technology from Mercaux. The COVID-induced lockdown restrictions have changed how we live and work. Other companies in the space are developing devices for spa services at home, for example: But the movement isnt limited to cosmetic services its also expanding to wellness. Privacy Policy. Alll, for example, analyzes users genes through a DNA test to provide targeted skincare products. A. Following its $600M purchase of a 51% stake in Kylie Cosmetics in 2019, Coty snapped up a 20% stake in Kim Kardashians beauty business, In September 2019, SC Johnson purchased mens skincare brand, Edgewell announced plans to buy mens grooming brand, It was reported in October 2020 that mens personal care company. A. Asia-Pacific region holds the maximum market share of the cosmetics market. Another one of the biggest beauty industry trends is virtual experiences. In beauty retail, virtual try-on tech serves a dual purpose: combining both augmented reality and computer vision, it allows shoppers to virtually test out different looks, while simultaneously collecting behavioral data for brands. 2021 Annual Report. As cosmetics have become an integral part of individuals lives, consumers, especially women, prefer to use cosmetics products, which are handy and easy to use while travelling or attending social meetings. For example, Glamera, which offers on-demand spa and makeup services, is based in Egypt. C-beauty brands have also leveraged partnerships to gain traction beyond local markets. The major currents trends will shape the market in the positive side. The largest age group of visitors are 25 - 34 year olds (Desktop). During the survey, the questions were phrased as follows: Dior J'adore evaluation in the United States 2015, Gucci by Gucci evaluation in the United States 2015, Giorgio Armani Si evaluation in the United States 2015, To download this forecast you need one of our Business Solutions. LOral signed a licensing deal with biotech bacteria company Micreos, while Este Lauder inked a joint development deal to explore lab-based materials in skincare. Atolla also uses AI capabilities to customize facial serums for consumers by using data collected through quizzes and tests (measuring oil, moisture, and pH levels) that are then processed by the companys algorithm. Skincare brand Proven, for example, says it feeds consumer data into its AI platform which contains information on more than 100,000 products, 8M+ testimonials, 4,000+ scientific publications, etc. According to DECA, 80% of female teens said they were willing to spend more for clean beauty. Itll be a lasting trend. 2020 Annual Report. As the trend continues to gain traction, understanding the difference between niche and underserved audiences remains crucial, as there exist many demographics with untapped potential. But there are no half-measures about Mr. Pinatels plans for MAC. The global makeup market size is projected to grow from $41.85 billion in 2022 to $61.34 billion by 2029, at a CAGR of 5.61% during the forecast period. Companies like Deciem are using transparent pricing models and established, science-backed ingredients that are cheaper to manufacture ultimately driving the price of products down. Chemicals used as ingredients in cosmetic products can have many adverse side effects on skin. The formulations of cosmetic products consist of numerous chemical constituents, including synthetic chemicals, coloring agents, sulfates, and others. Virtual try-on cannot completely replace the in-store experience of interacting with a sales rep and experiencing the weight and texture of physical products. Nielsen notes that 92% of people trust recommendations made by friends or family more than any other advertising. With the rising awareness of harmful chemical ingredients on ones health and the environment among consumers, their buying behaviors have shifted to organic products. In-store refills have yet to pick up especially after the Covid-19 pandemic though there is opportunity here. Livestreaming beauty shopping is taking off on platforms like Facebook-owned Instagram and Alibabas e-commerce site. With consumer preferences changing to organic and therapeutic formulations due to rising awareness of organic products, manufacturers have accelerated research & development efforts to find new organic and herbal ingredients that can attract consumers. Removing water from product design and shipping is a key emerging theme across beauty brands efforts to improve operational sustainability. As people have spent more time working and socializing virtually, video filters could prove to be another expanding use case for virtual makeup. Instagram is not the only company using video to sell beauty products. We use cookies to enhance your experience. Even informational content in the middle of the funnel can grow brand awareness with new prospective customers. The market is projected to grow from USD 41.85 billion in 2022 to USD 61.34 billion by 2029, exhibiting a CAGR of 5.61% during the forecast period. The company offers collagen a protein that helps form skin in products like powders and snacks. Branded communities are the wave of the future, and smart beauty brands will make them a priority. As a culture, we are realizing that gender is no longer a fixed concept, said Sam Cheow, senior vice president of corporate innovation and product development at the Este Lauder Companies, in an interview with Harpers Bazaar. MAC Cosmetics' Cyber Monday 2020 sale will kick off on Monday, Nov. 30, and continue to offer shoppers 30% off sitewide. Moreover, extensive use of color cosmetic products for eyes and lips can also cause many skin diseases and consequential health hazards. Nail care is also increasingly coming out of the salon and into the home. Consumers are wary of using products that contain harsh chemicals. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Available: https://www.statista.com/forecasts/1241179/mac-cosmetics-beauty-and-health-brand-profile-in-the-united-states, Mac Cosmetics brand awareness, usage, popularity, loyalty, and buzz among beauty and health online shop users in the United States in 2022, Immediate access to statistics, forecasts & reports, Find your information in our database containing over 20,000 reports. Major opportunity exists in meeting the needs of cohorts beyond the young adult (ages 18 to 35) segment. Companies like OmeCares OmeSkin, Alll, Skinshift, and others are offering beauty-focused DNA testing kits, which can curate product recommendations or branded, personalized products based on users genomic skin traits. For example, Hims & Hers offers telehealth consultations and prescriptions for a broad array of health issues ranging from infections to mental health, but its services also extend to anti-aging creams and haircare products. Apart from this, the online segment is anticipated to hold the fastest growing CAGR during the forecast period owing to the rapid boom of e-portals during 2020. How much is the beauty industry worth? Livestreaming, which refers to livestreamed shopping trips where viewers can purchase the items being featured, is offering a new way to engage younger audiences and boost sales. As consumer values and expectations shifted, big beauty corporates and startups alike have been forced to adapt. Asia Pacific and North America account for more than 70% of the total market size, The cosmetics industry has an annual growth rate of 4.75% worldwide, Global beauty industry revenue is expected to top $716 billion by 2025. maccosmetics.com's audience is 24.35% male and 75.65% female. Virtual try-on tech leverages augmented reality to allow shoppers to test how different beauty products will look without needing to reach for the makeup remover wipes afterward. While most analog brick-and-mortar retail is staring at the fate of a video rental store, MAC Cosmetics is taking the virtual road. As natural beauty ingredients are gaining popularity, the need for natural preservatives is also rising, resulting in research opportunities for organic and natural constituents. Show publisher information At the rate the planets resources are being depleted, the shift to lab-grown ingredients may arise out of necessity. To thrive, brands must be hyper-aware of current beauty trends and shape their growth marketing strategies to align with the times. The ModiFace app uses AI to scrape and analyze images and descriptions of products from brands and social media posts to produce a more realistic augmented reality (AR) projection on users. In this report, we look at the latest innovations across every part of the beauty space and highlight the top industry trends to watch in 2021 and beyond. Brands such as SA.AL & Co., Bulldog Skincare, David Beckham's House 99 range, and Chanel's BOY are focusing on offering products for men's skincare needs to cater to its increasing demand. As a result, many ecommerce and direct-to-consumer (DTC) brands saw an increase in sales due to the pandemic because millions of people had to shop almost exclusively online. Some examples of amazing digital customer experiences include: For example, Ultas Glam Lab lets customers see what theyll look like using different types of color cosmetics like mascara and eyeshadows, as well as with different hair color or eyelashes. Hair care products is where Amazon performed best in Google, with the second highest market share. "Assisting You in Establishing Data Driven Brands", Region : Global | Format: PDF | Report ID: FBI102587. In the US, personal care and beauty online sales totaled a whopping $62.6B last year, up from $53.1B in 2019. Get detailed COVID-19 impact analysis on the Cosmetics Market. In addition to scoring an amazing discount, MAC Cosmetics fans will still . More and more consumers are using augmented reality when shopping. With smart home concepts continuing to gain traction, beauty brands will have to consider how voice technology and partnerships with big tech could be used to address shopper pain points, from personalized recommendations to conveniently booking reservations. Share 14 Trends Changing The Face Of The Beauty Industry In 2021 on Facebook, Share 14 Trends Changing The Face Of The Beauty Industry In 2021 on Twitter, Share 14 Trends Changing The Face Of The Beauty Industry In 2021 on LinkedIn, Share 14 Trends Changing The Face Of The Beauty Industry In 2021 via Email, produce a sustainable alternative for palm oil, adopted biodegradable and recycled plastics more broadly, conditions of the pandemic drove them toward product categories like skincare, Perfect Diary has become one of the countrys most talked-about beauty brands, approach is already popular in Asia, but it has started to make inroads, virtual Shiseido store uses virtual reality (VR) technology, Did LOral overpay for Asop? Based on application area, the market is segmented into lips, eyes, face, and nails. Moreover, cosmetics products have witnessed prominent adoption in the developing countries such as India, owing to swift change in consumer lifestyle, increase in disposable income, and surge in need for cosmetics products derived from natural extracts. Often, though, lesser-known beauty experts who have a more dedicated, loyal, and sincere following deliver better results for brands. Chart. The powder segment is estimated to grow at a significant rate in the coming years. Leading beauty brands In 2020, the leading beauty manufacturer was French cosmetics company L'Oral, which recorded $33.93 billion in revenue. Augmented reality apps that allow customers to virtually try on new products, Creating a referral program that rewards brand ambassadors, Highlighting customer reviews on their website, Rallying around a social cause, much like TOMS did by supplying shoes to those in need, Creating viral content that people want to share. A. Some brands are able to launch new product lines in just 3 months. Also look for on-demand wellness services to become more frequent offerings in the office as employee well-being becomes a top priority for bringing people back to the office following Covid-19. Custom printing, in which companies formulate products specifically for each user. Many in-store cosmetics brands have tried virtual experiences like shade-finders, and have ultimately failed perhaps due to half-heartedness. Since Fenty Beautys launch in 2017, inclusive beauty has become an industry buzzword, encompassing new demographic markets that are becoming increasingly important for the beauty industry to target. It comes with the additional cost of $2500.00 contact sales. Beauty Chef, a startup that has raised $6.8M, is already marketing its products by linking beauty to gut health. Allure and Byrdie rank first and second, and their websites attract between 60 and 80 million organic search visitors overall each year. "Mac Cosmetics Brand Awareness, Usage, Popularity, Loyalty, and Buzz among Beauty and Health Online Shop Users in The United States in 2022. Email marketing is a highly effective ecommerce strategy for beauty marketing teams. Legacy brands must adapt to these changes or they risk losing market share to startups utilizing different business models. For example, California-based ManiMe uses 3D scanning and printing technology to create customized press-on nails that are shipped to the customer. This has also decreased the negative impact on the environment to some extent. In addition to the aspects mentioned earlier, the report encompasses several factors contributing to the market growth. The company invested in Curie Co, a startup that makes biomaterials to replace preservatives in everyday beauty and personal care products, through its JLABS incubator. And it still remains an important and effective marketing vehicle for makeup brands and other cosmetics retailers. The Definitive Guide, 10 Content Marketing Strategies for Beauty Brands + Examples, 9 Powerful Ecommerce Content Marketing Strategies for 2022, 10 Excellent Content Marketing Examples to Inspire Your Strategy, 10 Remarkable Benefits of Content Marketing. The base year calculated in the cosmetics market report is 2019. Topicals and Musely, for example, are targeting skin conditions like eczema that would normally require a trip to see a specialist to get a prescription. Beyond Fenty, a number of inclusion-focused brands like Mented Cosmetics, Urban Skin Rx, and Live Tinted have forged partnerships with larger retailers like Ulta Beauty, Target, and CVS to roll out their products nationally. Sixty percent of the Google page one rankings for product keywords are for websites that dont even sell skincare products. Need to talk to an expert? Already, the countrys male skincare market was more than twice the size of South Koreas and more than three times the size of the US market as of last year, per Euromonitor. Expect to see livestream shopping becoming more popular in the US after already taking off in China. Meanwhile, Coral is creating a fully automated device that provides at-home manicures. For instance, in August 2022, Ponds, a beauty brand from Unilever, a British consumer goods company, launched its natural glow face powder which is made from ingredients such as titanium dioxide and zinc oxide that have UV protection properties. Strategic B2B Content Marketing: How-to Guide for 2022, What is Content Marketing? Fortune Business Insights says that the global market size was USD 40.37 billion in 2021 and is anticipated to reach USD 61.34 billion by 2029. Since then, Western shoppers have clamored for Korean beauty products, with items like sheet masks and snail cream becoming commonplace in beauty stores. *Taxes/Fees, if applicable will be added during checkout. While product personalization isnt a new trend, beauty brands are continuing to adopt new tech and refine their methods to create more customized formulations for consumers from tailor-made lip color to individualized hair treatment. TikTok especially is gaining traction as a beauty product education and exploration platform, boosting sales when products go viral. Import and export restrictions on goods and quarantine and lockdown measures imposed by governments are key challenges exporters are facing during this pandemic. Surprisingly, publishers and informational sites significantly outperform beauty brands and beauty retailers when it comes to Google organic search. As soon as this statistic is updated, you will immediately be notified via e-mail. In particular, perimenopausal concerns have seen increasing attention in skincare, for example: Beauty brands are also looking to babies and children for untapped opportunities, with examples like: Luxury skincare brands such as Pai Skincare, Dr. Barbara Sturm, and others have expanded into baby and childrens skincare products. By geography, Asia Pacific and North America dominate, accounting for more than 70% of the total market size combined. . Copyright 2023 CB Information Services, Inc. All rights reserved. Ultimately, the beauty brands and retailers that will come out on top will be the ones that create a unified view of the consumers online and offline behavior. Use of cosmetics by men is expected to eventually increase and in turn supplement growth of the global cosmetics market. Currently, beauty juggernauts are looking to indie brands to experiment in newer markets and nascent trends. Certain brands will benefit by working with mega influencers and entrepreneurs like Huda Kattan, Nyane Lebajoa, or James Charles. The cosmetics market effecting factor are changing lifestyle and increasing demand for natural ingredients in cosmetic products. They are also quick to pick up the current beauty trends that Chinese consumers are drawn to, and are fast in launching products that leverage those trends, Nanyang Technological University associate professor Elison Lim said in an interview with Insider. 2023 Terakeet LLC. Google works with brands to use its search data to better understand beauty shoppers preferences. Start reading instantly.This Report and over 29,716+ more Reports, Available with Avenue Library. DNA testing kits, which allow companies to provide product recommendations or create custom products based on users genes. Going forward, expect to see beauty brands and tech giants alike turn to virtual try-on to gather shopper data and make more personalized product recommendations. For more, read our article, How Byrdie Toppled Billion Dollar Beauty Brands (Without Ads). Around 11% of beauty and health online shop users in the United States say they are likely to use Mac Cosmetics again. Moreover, increase in urbanization, rise in working class population, and competitive pricing boosts popularity of hypermarkets in developed and the developing region. Supermarkets/Hypermarkets Segment to Dominate the Market Due to Growing Demand for Variety of Options. We had a seven-year cycle of high-glam makeup, and currently minimal no-makeup makeup is having a moment. MAC now offers an infrared touch-screen to shade-match even the uniquest skin tone.

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mac cosmetics market share 2020

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mac cosmetics market share 2020