Male Colour Cosmetics Market

Key Research Findings

• The global Male Colour Cosmetics market will witness increasing value from US$ 10,670.7 Mn in 2019 at a CAGR of over 11.2% to reach US$ 38.413.4 Mn in 2029.
• Face products segment is expected to hold a dominant position in the global male colour cosmetics market throughout the forecasted years.
• Launch of innovative products that suffice the consumer’s requirements will expand the product offerings to generate lucrative opportunities in the market
• Companies target younger males who grew up with less rigid gender boundaries, such as Gen Z and Baby Boomer. Major revenue is generated from this demographic of men.
• East Asia would remain at the driver’s seat in the Window Covering market, with dominant developed markets of the North America and Europe

Key Factor Shaping Male Colour Cosmetics Market

E-Commerce Platform driving the revenue for the market

The high number of offerings and high retail space of face product provides a significant share of the facial products in the global male colour cosmetics market. When businesses have trouble growing, they immediately think it’s because they don’t have enough customers. Companies are using an e-commerce platform like Amazon, E-bay, Flipkart, Walmart, and another online platform. Companies have even developed a specialty store for their products. Likes but are relying more on the online store as they give more discounts and other related schemes which make it cheaper for the customer to buy.

Increasing internet penetration to drive the sales of make-up remover through online sales channels over the brick and motor. Rapid urbanization and changing lifestyles are encouraging consumers to purchase cosmetic products through online sales channels instead of traditional formats.

Increase in disposable Income

As income increases so do demand. If manufacturers ramp up to meet demand, they create jobs. Workers' wages rise, creating more spending. It's a virtuous cycle leading to ongoing economic expansion. The economy benefits when most of the gain goes toward low-income families. They must spend a more significant share of each dollar on necessities until they reach a living wage. Consumer spending is the single most important driving force of the economy.

People in Asia have increased the spending which has affected the economy. Countries like China and India, which are the major market for the growth of this market. The Indian economy has grown in recent times and as the people have increased the spending which has to lead to a rise in the economy and India is in the top five economies of the world.     

COVID-19 impact on demand for Male Colour Cosmetics Market

In the first few weeks of COVID-19, the male colour cosmetic market witnessed growth, and the market was growing at a good pace, but from late March and from early April onwards the growth has slowed down as the market was shut down and people were told to stay in their homes. There is an increase in demand for personal hygiene products and protective products.

Male colour cosmetics have taken a hit as the demand has reduced due to coronavirus, as major demand was from men salon and other design stores. But due to lockdown and high rate of virus spread the salon and other such stores have been shut-down which has reduced the growth of the market but has the pandemic of coronavirus will pass the demand will expect to increase. The online platform will play an important role in the growth of this market, and major revenue is generated through an online platform and that through across the globe.

Innovation in Product Line

Launch of innovative products that suffice the consumer’s requirements will expand the product offerings to generate lucrative opportunities in the market. Male colour cosmetics with natural/organic ingredient is anticipated to witness high growth. The South Korean and China male colour cosmetics market is quite popular for cosmetics innovation and consumer-oriented products.

Companies like, 4VOO is a men's skincare & cosmetic's company that offers four levels of product stage for men: basic, essential, enhanced, and extra. Increasing focus on a customer-centric approach and rapid advancement in male colour cosmetics are factors expected to influence companies to develop novel products and adopt a unique marketing strategy, which in turn, is expected to fuel the market growth in the near future.

Structure Analysis

• Some of the leading player in male colour cosmetics market are Chanel, Menaji Worldwide, LLC, Mens MakeUp, Calven Klein, 4VOO, Glossier Inc., Guerlain, War Paint, Koh Gen Do, Hourglass, Formen Inc. and others.
• MENAJI Men's Skincare Brand launches its product in Chicago at Wax Man Spa & Salon. Wax Man Spa & Salon added a heavy dose of style to its already extensive services by launching MENAJI - a full line of luxury skincare and men's HI-DEF cosmetics.
• Glossier Inc. Raises $100 Million to Build the Future Beauty Company for funding to build the future beauty company in collaboration with its customers.

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