Across the globe, the top five cosmetics markets in 2018 are forecast to be: the US ($12.1 billion), Japan ($6.4 billion), China ($5.1 billion), the UK ($2.7 billion) and South Korea ($2.2 billion).
According to Charlotte Libby, Mintel’s global color cosmetics analyst, some of the hottest macro-trends in the category include social media, sustainability, transparency and hybridization.
“The beauty industry’s shift toward natural and organic products will have a unique impact on color cosmetics, leading to increased attention on product origin and quality of ingredients,” said Libby. “Brands will be expected to demonstrate their ethical policies and consideration of resources and alternatives. For instance, many glitters found in color cosmetics contain non-biodegradable microplastics. As consumer awareness around the negatives of microplastics grows, glitter in makeup will be subject to more scrutiny.”
According to Libby, consumers are drawn to brands that act responsibly.
“Attempting to reduce the carbon footprint by tackling waste is an area in which color cosmetics brands can innovate. Alternative materials like bamboo, coconut husk and rice bran have been a growing trend in packaging. As well as appealing to consumers looking for environmentally-friendly products, they have the added benefit of standing out on the shelves where plastic and glass is the norm.”
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