In news that will surprise few members of the industry, colour cosmetics will continue to be a formidable force in securing sales for the next few years. According to a report from Markets and Markets, the colour cosmetics category is set to rise at an annual rate of 5.7 per cent until the year 2020.
Colour cosmetics as a whole includes nail, lip, eye, facial make-up, hair colour, special effects and other products. The category was valued to be worth US$57.2 billion in 2014, and is expected to grow to US$77.7 billion by 2020.
In particular, the United Kingdom, South Africa and India are expecting the most substantial movement. Specifically, the UK will rise 30 per cent and India 20 per cent in the next few years.
The report regards a handful of motivating factors for rising popularity of the category. These include consumer willingness to experiment, the developing of fashion trends in the US, ongoing demand for BB creams in the US and UK, rising popularity of prestige products, and a growth in interest in nail products and face make-up.
