Why the beauty industry is enjoying a colour explosion
Glossy, matte, nude or natural... contoured, bright or baked; the colour cosmetics market has evolved into a multi-product, multi-effect, multi-billion dollar industry.
Over the past five years, the market has exploded with new products and formats, as technology and routes to market become ever more sophisticated, driving consumer demand and the sector's visibility on the global beauty stage.
According to market research provider Euromonitor International, the global colour cosmetics market grew by a healthy 7% in 2017 with a further compound annual growth rate (CAGR) of 4% expected over the next five years, compared with just 2% between 2012 and 2017.
Growth was strong in both mature and emerging geographical markets. Mintel estimates sales in the top five markets reached a combined US$47bn in 2017, while Euromonitor has identified exceptionally strong growth in Latin America and Eastern Europe, along with China and India.
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