Makeup Remover Market is projected to grow with a significant growth rate of 5.62% from 2019 to 2024 and reach a market value of USD 3051.3 million by the end of 2024.
Recent years have seen a rise in the demand for the cosmetic industry products which is backed by key and innovative developments like the introduction of colorful cosmetics and varied products. Also, various age groups have started demanding cosmetics which has boosted their growth across various industry vertices. The rise of makeup use is pushing for the wide availability of makeup removers that have an easy application, are conveniently available, and do not harm the skin. Also, makeup removers act as toners for certain skin types which is further pushing the key market players to develop them to cater to the demand of a larger audience base.
COVID 19 Analysis of Makeup Remover Market
The arrival of the pandemic was a major challenge with which the companies and key market players are still facing problems. Since the coronavirus disease was declared as a healthcare emergency, the industries are facing restrictions in the form of strict functional hours, lockdowns, lack of raw material to support the functions of the production and manufacturing units alongside the unavailability of logistic support and workforce. Also, people are not stepping outside their homes due to the fear of contracting the virus, which is further, cutting down the opportunity to make sales.
However, makeup remover market is one of the commonly used products, and hence, this feature pushes the need for makeup removers. A chunk of the target audience uses makeup removers for several purposes like cleaning and toning. Hence, the key market players are investing in the research and development department to launch products that cater to various skin problems and are suitable for most skin types. Good growth is expected for the makeup removers during the forecast period that ends in 2028.
The sales for cosmetic products especially skincare grew at a 5.5% rate during the previous period. A similar trend is likely to follow during the current period which in turn, is likely to push the makeup users to demand removers on a large scale. makeup remover market belong to the category of the most profitable products as they have a common use that is followed like a ritual by the target audience to get their makeup off and prevent skin damage, redness, and irritation.
However, some of the chemicals used to make makeup removers are harsh. This is one of the major restraints for the market. To curb this issue, the makeup remover market players are on the path of developing dermatologically recommended removers that cleanse and hydrate skin after makeup and also, help in restoring the natural skin qualities that will prevent any disorders.
The prominent market players are making use of the best ingredients and coming up with excellent products like micellar water. This acts as a natural makeup remover and also, has a low chemical content. Owing to the growing awareness and demand for using natural and untreated products on the skin, these products are going to enjoy excellent limelight by the end of the forecasted period in 2028. Also, the manufacturers, are on the way to developing removers that are specifically for some face parts just like the specific makeup products.
To have deep market analysis and understand the reason behind the viewpoint of the market players and industry leaders regarding the growth rate of the market and the final market valuation by the end of the forecast period
To have the makeup remover market insights that help in understanding the revenue potential of the market segments that are functional in major global regions as they have an impact on the marketing and investment decisions of the potential parties
To understand and draw a competitive graph amongst the key market players and recognize their efforts to make a difference to the final market valuation by studying their recent developments during the period
makeup remover market share is anticipated to witness significant growth owing to the performance of different market segments. Among these, the wipes and cleansers segment will be the fastest-growing and also contribute towards this market growth more than any other segment. These wipes can be carried anywhere and effectively be used in very little time. The organic product segment will also witness substantial growth during the forecast period as people these days want to stay away from any type of skin allergies and to prevent those many people prefer using products extracted from a natural source, not those which are made up of different chemicals and compounds. For an amplifying use the makeup remover market has been segmented into the following on different bases:
Based on type, it has liquid, foam, gel, and others.
Based on the product, it has liquid, wipes, pads, cleansers, and clothes.
Based on the category it has, organic and conventional.
Based on end-use, it has store-based and non-store-based.
The store-based segment is further divided into supermarkets & hypermarkets, specialty stores, and convenience stores.
The makeup remover market movement is remarkably working in 6 major regions of the world that is North America, South America, Asia Pacific, Europe, and the Middle East & Africa. Among all these regions, the Asia Pacific region will dominate this market, and the reason attributed to it is the rising number of working women and rising per capita disposable income of the population. Also, the establishment of strong promotional campaigns by prime market layers is another factor that will enhance the growth of the market in this region. In addition to these, the rising importance of personal grooming and the launch of new and innovative products at regular intervals is boosting the sales of makeup remover products in this region. Lastly, the men present in this region are becoming conscious about their skin complexion and to cure them are adopting skincare products which in turn is responsible for the growth of makeup remover market. North America will be the second-largest market during the assessment period as most of the key companies of this industry are based and headquartered in the United States of America. The other regions of the world will also witness significant growth due to rising awareness about makeup removal routines increasing the use of these beautifying products to improve skin color will also contribute to the growth of makeup remover market.
The prominent market players that have an important role to play in predicting the growth rate of the makeup remover market owing to the key growth strategies taken up are as follows:
In 2018, with a view of opening a new concept makeup store in China, L’Oreal teamed up with AS WATSON group which is one of the largest retailers of health and beauty products. A similar type of store was opened in various regions across the world to provide the consumers with the latest beauty products as soon as they are launched in addition to a rich makeup experience. These stores also have a makeup artist to assist the customer in choosing from so wide range of beauty products according to their requirements.
In February 2019, a new milky oil makeup remover wipes and solutions were launched by a US-based beauty company glossier as the best solution for removing waterproof makeup. Along with this product Aloe Vera, chamomile, and cucumber-infused wipes were also launched as organic products.
In March 2019, isopropyl Shea butter and makeup removers derived from plants aimed to overcome the difficulty of cleansing the face and lip makeup was launched by JARCHEM Industries, US-based chemical ingredients, and nature-based products manufacturer.
The makeup remover industry report presents a shift analysis that includes market drivers, opportunities, and restraints that are available in the global market. The report discusses the impact of covid-19 on the key players of this market. The report also talks about the makeup remover market segmentation on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report presents some recent developments in this industry.
Frequently Asked Questions (FAQ) :
Global makeup remover market is touted to record a substantial market valuation of USD 3051.3 million by 2027.
Global makeup remover market is projected to register a moderate 5.37% CAGR in the forecast period.
The massive demand for makeup remover driven by the growing use of makeup is the primary growth inducer of the market.
The liquid segment is expected to observe substantial demand over the review period.
A few emminent market players operating in the global makeup remover market are L'Oréal S.A. (France), Johnson & Johnson (US), The Procter & Gamble Company (US), Shiseido Company, Limited (Japan), among others.