Rise in disposable income, surge in number of working women, surge in awareness among people about their physical appearance, growing number of salons, and the proliferation of the e-commerce industry drive the global face concealer market.
PORTLAND, Ore., March 3, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Face Concealer Market by Type (Liquid Concealer, Cream Concealer, Stick, Balm), by Gender (Men, Women, Unisex), by End User (Personal, Commercial), by Distribution Channel (Hypermarket/Supermarket, Specialty Stores, Online Sales Channel, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global face concealer industry generated $7.2 billion in 2021, and is estimated to generate $12.0 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
Rise in disposable income, surge in number of working women, surge in awareness among people about their physical appearance, growing number of salons, the proliferation of the e-commerce industry, and leading manufacturer’s increased emphasis on marketing strategies and promotional activities drive the global face concealer market. Makeup product contains several synthetic chemicals, such as preservatives, pigments, and other additives, which may have serious side effects on the body, such as allergic reactions, acne, and black marks. This factor hinders the market growth. Furthermore, increase in investments in research and development (R&D) activities by leading industry players to introduce high-quality product variants will present new growth opportunities for the global face concealer market in the coming years.
The COVID-19 pandemic influenced consumer spending habits, resulting a decline in the global face concealer market growth. As facial makeup does not fall under necessary goods and service, the sale reduced due to various government restrictions and multiple measures aimed at reducing the spread of coronavirus.
Furthermore, internet platforms had been observed to make a variety of conscious companies more accessible, thereby mainstreaming sustainable beauty.
The liquid concealer segment to grab lion’s share during the forecast period
Based on type, the liquid concealer segment contributed to the largest share of more than two-fifths of the global face concealer market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. Surge in disposable income of consumers is driving the demand for liquid makeup products. There is a rise in the demand for liquid concealer particularly among millennials (18 to 34 years old), a generation that is acutely aware of environmental and social concerns. However, the stick segment is projected to witness fastest CAGR of 7.5% from 2022 to 2031. The concealer stick contains active ingredients that help prevent acne spots from becoming inflamed, making it ideal for acne-prone women. Therefore, easy to apply for acne skin is the factor propelling the demand for stick concealers.
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The personal segment to dominate the market during the forecast period
Based on end-user, the personal segment contributed to the largest share of nearly three-fourths of the global face concealer market in 2021, and is expected to maintain its leadership in terms of revenue during the forecast period. This is because consumers are becoming aware of the advantages of using quality cosmetic products and hence, the usage of cosmetics for personal use is increasing in households. The availability of cosmetics in the market for regular use has encouraged consumers for daily usage to protect the skin from damage caused by air pollution, dust, and direct contact of sun rays with the skin. Moreover, commercial segment is projected to witness the fastest CAGR of 6.4% from 2022 to 2031. This is due to items used and supported by celebrities’ aid in product promotion, increasing market demand. Celebrities, on the other hand, are entering this sector by launching their own cosmetics brands.
The hypermarket/supermarket segment to rule the roost
Based on distribution channel, the hypermarket/ supermarket segment contributed to the largest share of more than two-fifths of the global face concealer market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. Increase in urbanization, rise in working class population, and competitive pricing boost the popularity of hypermarket/ supermarket. On the other hand, online sales channel is projected to witness fastest CAGR of 7.4% from 2022 to 2031. The growth is attributed to the fact that consumers can obtain access to products manufactured in a different country through online retail. Consumers who demand a product from a specific brand but do have access to the physical store can easily purchase it from online portals.
Asia Pacific to achieve the largest revenue by 2031
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly two-fifths of the global face concealer market and is likely to maintain its dominance during the forecast timeframe. Also, the same region is projected to witness fastest CAGR of 6.2% from 2022 to 2031. The rise in awareness regarding natural and organic cosmetic products has led to a rise in demand for natural products in Asia-Pacific. The rise in the use of these products in countries such as India and China are major growth factor for the Asia-Pacific face concealer market. Surge in disposable income mainly in countries such as India and China is improving lifestyles, which in turn, is propelling the growth of the market in Asia-Pacific.
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Leading Market Players:
- Skin Food
- The Avon Company
- Procter & Gamble
- Global cosmetics (HK) Company Limited
- Oriflame Cosmetics S.A.
- Estee Lauder Companies Inc.
- Amway Corporation
- Pacifica Beauty LLC
- Shiseido Company, Limited
- Armani Beauty
- Elizabeth Arden
- L’Oréal Professional
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