Companies the world over are innovating to meet a diverse range of consumer needs
Faces were glowing in the colour cosmetics market in 2015, with sales increasing 6.5% to reach US$60.6bn, according to figures from Euromonitor International. While Western countries continue to make up around 64% of the market, colour cosmetics is growing in popularity in emerging markets, according to Oru Mohiuddin, Senior Analyst – Beauty and Personal Care at Euromonitor International. “South Korean pop culture and the Bollywood influence have helped to drive growth for the category in Asia Pacific and the Middle East,” Mohiuddin explains.
Interest in colour cosmetics in Japan faded after the financial crisis in 2008 and the earthquake and tsunami in 2011, with colourless eye make-up becoming the norm, according to Shinji Yamada, Head of International Corporate Communications at Kanebo Cosmetics. But more recently, he says: “Japanese women have rediscovered the fun of make-up, with the emphasis being put on the eyes and lips.” According to figures from the Japanese Ministry of Economy, Trade and Industry (METI), the Japanese colour cosmetics market grew 2% in 2014 and 3.1% in the January to September period of 2015, reaching ¥103.89m.
“In Korea, the cosmetic trend strives for clean and healthy looking skin,” Eunim Lee, Senior Vice President of Hera (AmorePacific), says. “The glowing skin trend is expected to continue, made possible with light textured and hydrating cushion products and CC creams, which also enable convenient, multifunctional make-up.”. . .
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