Today, cosmetics have become a daily necessity for women across the world. The media and fashion industry has penetrated even the lowest strata of the society. The media has a profound effect on the Contouring Products Market. Peer pressure, growing number of working women and emergence of the hospitality sector led by the hoteling & tourism industry are among the many factors driving the contouring products market.
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Contouring is a makeup technique used to define and enhance one’s features with the help of cosmetic products. Contouring products create a shadow and slimming effect with the help of a slightly darker warm color. Contouring is often complemented with a slightly lighter-colored highlighter. The growing acceptance and consumption of cosmetics around the world, driven by the increasing income of women and primal desire for beauty, is driving the contouring products market.
Contouring Products Market: Dynamics
Advancements in cosmetic technology in terms of material, organic color and ergonomic design, among others, are driving the demand for contouring products. The growing economic clout of developing regions and the concurrent investments by global cosmetic giants, such as Lakme and Revlon, in developing regions, such as India, are the other factors driving the adoption of contouring products.
However, factors restraining the contouring products market include pressure on pricing owing to large market fragmentation and the high volume & low value nature of the contouring products market, which results in price being the most significant value proposition in this market. The menace of too many products and lack of standardization are the other factors hampering the contouring products market’s growth. Similarly, some contouring products also lead to allergies and this growing number of allergies owing to substandard products is also hampering the adoption of contouring products.
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Based on regions, the global contouring products market is classified into North America, Latin America, Europe, CIS & Russia, Japan, Asia-Pacific excluding Japan (APEJ) and the Middle East & Africa (MEA). North America is expected to account for the largest share in the global contouring products market owing to growth in the income of women, large investments by cosmetic companies and the huge potential of the market. China and India are expected to drive the lion’s share in the Contouring Products market.
The North America and Europe Contouring Products markets are expected to witness sluggish growth owing to saturation. The Contouring Products markets in these regions is expected to be led by the U.S., Germany, France and the UK. France has a large cosmetic industry, which is driving the European region’s Contouring Products market.
The Middle East and Africa Contouring Products market is expected to be driven by the gulf economies of Saudi Arabia, Kuwait and Qatar. However, poor per capita income of African countries is likely to hamper the Contouring Products market growth in this region.
Contouring Products Market: Key Players
Some of the major players in the global contouring products market are NYX Professional Makeup, Rimmel, City Color, Hard Candy, Shany, Maybelline, L'Oreal, Profusion Cosmetics, Black Radiance, E.L.F. Cosmetics, The Estée Lauder Companies Inc., Amorepacific Corporation, Anastasia Beverly Hills, Beauty blender, Becca and others.
Research and development to bring newer shades to replace the rational orangey shades is the latest market trend. Price is the most significant value proposition that creates incentives for improvements in distribution efficiency, especially in developing regions. Close collaboration with retailers is crucial for cosmetic companies as they influence the decisions of buyers and provide critical support sales, which is likely to help reduce the cost associated with marketing.
Shelf-positioning is an extremely important and often overlooked area, which needs to be taken into account while marketing. Companies are also developing specialized franchise to develop brand image and boost customer loyalty.
This market study is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The study provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The study also maps the qualitative impact of various market factors on market segments and geographies.
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Contouring Products Market Analyzed for the Projected Period of 2018-2028
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