Globally, rising internet penetration and adoption of e-commerce are the factors expected to fuel the revenue growth of global male colour cosmetics market, owing to growing number of customers using digital technology for mobile transactions and purchasing various products through online platform. In order to capitalize on millennial that are tech-savvy, companies in male colour cosmetics market are engaged with consumers through the use of social media and other digital avenues to advertise their products and increase the market share via online sales revenue.
Increasing online sales and use of e-commerce for selling FMCG products in North America, East Asia, and South Asia has led to surge the growth of B2C business in the consumer goods sector. Over the years, consumers’ behaviour has drastically changed and are more inclined towards researching about products online and purchasing various products such as men lips sticks, men foundation creams, and other products through e-commerce. Therefore, male colour cosmetics market is expected to register new growth opportunities during the forecast period. The market is projected to rise at a CAGR of ~11% between 2019 and 2029, Future Market Insights foresees high growth for the market.
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Key Takeaways from the Male Colour Cosmetics Market Study
- According to the report, key market players are likely to focus on the product penetration Latin America and South Asia. Manufacturers of male colour cosmetics are shifting their focus toward natural and organic ingredient in the products. Increasing awareness coupled with look conscious behaviours of men with regard to men’s colour cosmetics is one of the major reasons for men to opt for natural and organic products. To target this untapped group, companies are developing novel products with natural ingredients, which in turn is expected to boost the demand for male colour cosmetics in the near future. Moreover, product advertisement related to customer sentiments is the key strategy adopted by male colour cosmetics companies.
- The Latin America is forecasted to witness high growth rates due to increasing company’s penetration in the region and increasing product awareness among men in the region. Strengthening sales channels in the Latin America and Middle East & Africa is anticipated to create significant expansion opportunities for players in the global male colour cosmetics market.
- E-commerce sales channel is estimated to generate high revenue in the forecasted years for the male colour cosmetics market owing to increasing internet usage among consumers.
“Companies are recommended to focus on innovative & attractive packaging for increasing sales of male colour cosmetics market. The low awareness among consumers about male colour cosmetics when compared with other personal care products is major barrier of the market growth. Consequently, effective advertising is essential for the rapid growth of male colour cosmetics market.” says an FMI analyst.
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Celebrity Endorsement to Inspire Consumer’s Buying Behaviour
An emerging trend in the male colour cosmetics market is the increasing number of key players appointing various celebrities from the field of sports and films to endorse their products, with an objective to influence consumers to adopt the same. For instance, David Beckham & L’Oréal has entered into a partnership for male product promotion under the brand ‘HOUSE 99’. The brand is engaged in offering Natural Bronzing Effect Moisturising Gel.
Who is winning?
Some of the key players operating in the male colour cosmetics market are as L’oreal, War Paint, Koh Gen Do, Calven Klein, 4VOO, Glossier Inc., Guerlain, Hourglass, Formen Inc., Mens MakeUp, Menaji Worldwide LLC, Chanel and others
Several leading market players are engaged in partnership with other stakeholders to increase their product offering across the world. Moreover, companies are engaged in product innovation, launches, and advertisement on social networks to promote their products.
- In 2018, Chanel launched its first make-up line for men, ‘Boy De Chanel’. The product launch comprises of an eyebrow pencil, a foundation and other products.
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Get Valuable Insights into Male Colour Cosmetics Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global male colour cosmetics market, presenting historical demand data (2014-2018) and forecast statistics for the period from 2019-2029. The study divulges compelling insights on the male colour cosmetics market based on product type (lip products, eye products, facial products and other products), end-users (individual and commercial), price range (economic and premium) , sales channel (hypermarkets/supermarkets and others, specialist stores, drug stores, online retail, department stores, beauty stores, multi brand stores, direct sales and others) across seven major regions.