In previous years, the color cosmetics market has been the darling of the beauty industry. However, with half of 2017 gone, new Mintel research has estimated that the once popular segment will grow by just 2% to reach $11 billion.
Mintel attributes this slowed growth in color cosmetics to beauty consumers seeking more simplified makeup routines. The research also suggests that female facial cosmetics users are now seeking products with skin care inspired benefits. In fact, recent data from NPD stated that while growth slowed down for prestige makeup, every skin care segment expanded during the second quarter of 2017.
Mintel's Research Found...
- 44% of female facial cosmetics users are interested in anti-aging and moisturizing claims
- 29% are interested in pore minimizing products
- 28% say they're interested in facial makeup that evens skin tone
- 24% are interested in color-correcting palettes
Women 55 and Over
- 68% are interested in products with anti-aging claims
- 11% are interested in products that minimize pores
- 9% are interested in products for sensitive skin
- 2% are interested in products that treat acne
- 24% are interested in products that treat acne
- 23% are interested in products for sensitive skin
- 23% are interested in products that minimize pores
- 18% are interested in products with anti-aging claims
Shannon Romanowski, director, Mintel Reports, Health, Household, Beauty and Personal Care, shared, "Overall, the color cosmetics market experienced moderate growth in 2017. However, products which do not align with the current ‘natural look’ trend, such as lip gloss, bronzer and eye shadow, resulted in slower gains across the category segments. While the market is saturated and some women are turning to value brands to cut costs, facial makeup products that offer relevant skincare benefits present a bright spot that could reinvigorate sales. As consumers increasingly express interest in facial makeup that incorporates skincare-related claims, it’s likely these claims will continue expanding into the cosmetics category. Anti-aging and moisturizing claims are appealing to older women, and can be particularly successful in light of an aging population that is typically less engaged in the category.”