The global facial makeup market is projected to grow at the rate of 5.8% during the forecast period 2018 to 2023. Increasing number of working women and rising consciousness about physical appearance among millennial women across the globe is a key growth driver of the global facial makeup market. Growing demand for natural cosmetics is resulting in growing demand for cosmetic products, which in turn is leading to increased sales of facial makeup products. Growing e-commerce industry and increasing penetration of social media is further propelling the growth of this market.
The introduction of new and innovative facial makeup products that are suitable for modern lifestyle women. This is creating demand for waterproof facial makeup products, especially during summers. Makeup products that can withstand hot and humid weather conditions is gaining popularity among women. Besides, several facial makeup manufacturers are coming up with sweat-proof makeup. Increased demand for beauty balm and colour correcting creams is one of the innovative products in personal and cosmetic care which in turn creates the need for facial make up products.
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Source – Mordor Intelligence – September 2018