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The makeup market has seen modest growth in the US, according to a new report by Research and Markets. Sales for makeup reached approximately US$6 billion at FDM outlets and department stores in 2004. According to the report, the lack in growth may be due to a lack in product introduction or a decline in economic conditions.
Department store brands revealed higher sales than food, drug, and mass-market (FDM) outlets, according to the report, which references experts from the National Association of Chain Drug Stores who report that consumers have shifted from drug stores to specialty shops and dollar stores for their cosmetics' purchases.
Facial makeup reportedly saw the largest sales in makeup through FDM outlets. This is expected to increase, due, in large part, to baby boomers, who are expected to grow nearly 30% by 2010. The report states that foundations that offer better blendability and more shades are growing in sales. This growth is due to a growing ethnic population.
Eye makeup falls second to facial makeup in terms of makeup sales. Although eye makeup remains strong, the report has found lip makeup to have seen a decline, with an exception of lip gloss, which has reportedly seen strong growth.
Makeup sales is expected by Research and Markets to continue pace over the next few years According to the company, the growth of the female population will keep the beauty sector moving forward