Indonesia’s make-up market has never looked more vibrant, thanks to the trend for matte lipstick
Matte lipstick has not only ruled the west as one of the most dominant sales drivers of colour cosmetics products over the past year, it has also driven considerable value growth in Indonesia’s make-up market.
Women in this largest Southeast Asian nation who previously wore colour cosmetics only occasionally started wearing it daily in 2016, primarily driven by the growing trend for matte lipstick, says a spokesperson for market research agency Euromonitor International.
Unsurprisingly, Indonesian lip product sales – which include matte lipstick – soared to US$190.5m in 2016, up 10.4% from $172.5m in 2015. And the market for lip products is expected to reach $209.2m by the end of 2017, up 9.8%, Euromonitor tells Cosmetics Business.
Lip products accounted for the largest tranche of Indonesia’s colour cosmetics sector in the past two years, and will continue to hold its number one position in 2017 predicts Euromonitor.
A key driver of the double digit growth in demand for lipstick sales in 2016 – the country’s fastest growing colour cosmetics segment – has been the increasing number of . . .
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