mac cosmetics market share 2020

A. At the MAC Innovation Lab in Queens Center, customers will have the opportunity to customize their own palettes, personalize product packaging, and virtually try on makeup shades or even entire looks created by MAC makeup artists. And even among more product-focused searches, informational websites like Allure, Good Housekeeping, and Byrdie performed well. As soon as this statistic is updated, you will immediately be notified via e-mail. In makeup, examples include Fenty and Milk Makeup, as well as indie startups like Fluide and Jecca Blac. The brand also has over 500 stores globally. Mac Cosmetics is partnering up with the Whitney Houston Estate to launch a makeup range. Nowadays, self-care has become an integral part of a daily routine for a large number of individuals as it enables highlighting facial features such as eyes and lips and thereby provides an efficient method for grooming. Online sales will make up 48% of all beauty sales by 2023, The online channel for beauty in the U.S. grew by 5.6% in 2020, The offline channel for beauty contracted by 1.2% in 2020. after the death of one of the founding Franks, they bought the remaining share. Perfect Diary remains focused on targeting lower-tier cities, where customers may be less accustomed to the beauty market and more open to trying out new brands. Incumbent brands including MAC Cosmetics, Tom Ford, Gucci, and Marc Jacobs have all launched gender-neutral lines across makeup, fragrance, and clothing as well. Increasing Inclination Toward Personal Grooming to Favor Market Expansion. Analyzing a16zs investment strategy in consumer & retail tech: Where did the VC place its biggest bets in 2022? MAC Cosmetics' public holiday sales Look for brands to continue to develop hyper-personalized offerings in order to differentiate themselves from competitors and cater to consumers more effectively. With the rise in skin problems due to chemically contained cosmetics, people shifted toward more natural and organic products. Meanwhile, Peace Out Skincare saw sales for its pore strips quadruple in just 24 hours after it was endorsed by TikTok skinfluencer Hyram Yarbro, while another teenagers viral video drove nearly $850K in sales for The Ordinary. Virtual try-on is also available on the Kiko Milano website. Who are the major players operating in the market? If beauty companies publish content around informational keywords and optimize the on-page elements, then they can more effectively reach customers who are in the early stages of the buying process and nurture the relationships until prospects are ready to purchase. Meanwhile, unicorn Zenoti, which raised $160M in Series D funding earlier this year, provides services management software for salons in over 50 countries. The long-term potential is driven, most notably, by the rise of the middle and upper income classes, as well as by the growing number of senior citizens and growing urban population on the lookout for products that meet their diverse aspirations. Despite the negative impact of the coronavirus pandemic, the global cosmetics market is expected to recover in the coming years. Investing in SEM allows beauty brands to show up at the top of search results for important keywords. Grooming, looking good, and feeling good trend is rising worldwide with women at the center of the cosmetics industry. With the rising awareness of harmful chemical ingredients on ones health and the environment among consumers, their buying behaviors have shifted to organic products. In the physical Shiseido flagship store, customers wear connected wristbands that scan product signs and add items to digital carts. In addition to the aspects mentioned earlier, the report encompasses several factors contributing to the market growth. At the same time, consumers are increasingly realizing that not all natural ingredients are good for you and not all synthetics are bad. It goes far beyond making sure ecommerce pages are optimized, although that certainly matters. The videos should also be a mix of promotional and informational, with the emphasis falling on informational. It can be used to nurture relationships, promote special offers, recover abandoned carts, highlight newly published content, and more. This level of virtual retail begs the ultimate question: will robots have a permanent place in beauty? A. Asia-Pacific region holds the maximum market share of the cosmetics market. Propelling this growth were the 4.7 million non-prestige beauty shoppers who have begun purchasing in the prestige category. The market is projected to grow from USD 41.85 billion in 2022 to USD 61.34 billion by 2029, exhibiting a CAGR of 5.61% during the forecast period. [Online]. The segments of cosmetics market are category, gender, distribution channel, and region. Long-term and extensive use of chemical rich shampoos, serums, and conditioners lead to heavy hair fall problems. Download Terakeets Beauty Industry Report to see which brands are winning (and losing) in Google organic search market share. In doing so, the incumbent is diversifying its product portfolio and catering to new segments of shoppers whether they are seeking more affordable product lines, like The Ordinary, or more expensive ones, such as La Mer skincare, also owned by Este Lauder. Beauty companies are aiming to expand their product portfolio by acquiring different small-scale cosmetic brands as it helps the company with maximum customer reach and builds brand identities in the untapped markets globally. The collection includes MultiDew Skin Tint and Soft Radiant Bronzing Powder. What was the value of the global makeup market in 2021? Legacy brands must adapt to these changes or they risk losing market share to startups utilizing different business models. Statista. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the cosmetics market players. Amazon, Apple, and Google all offer voice-enabled smart speakers and have designs on deeply integrating their virtual assistants into peoples home lives. The market research is offered along with information related to key drivers, restraints, and cosmetics market opportunities. the global market value of natural cosmetics is projected to hit $50.5B by 2027. On the basis of distribution channel, the hypermarkets/supermarkets segment held a major share in the market in 2019, and is projected to remain dominant during the forecast period. maccosmetics.com Audience Demographics Audience composition can reveal a site's current market share across various audiences. Newer initiatives include: Biodegradable packing is another avenue of interest that has seen traction, pioneered by industries like food and beverage. Genomics is also playing a bigger role in personalizing beauty recommendations. For many, the conditions of the pandemic drove them toward product categories like skincare (and away from those like makeup) that play a central role in at-home routines. Clean beauty brand Credo teamed up with virtual shopping app Hero in 2019 to provide online shoppers with the same customer service such as product knowledge and recommendations they would find in the store. Baby care brand Mini Bloom was launched in December 2020. With this technology, customers can try on hair colour and makeup products realistically and in real time, or obtain a skin analysis and personalised skincare routine. New York, NY 10018. to incorporate the statistic into your presentation at any time. As a result, many ecommerce and direct-to-consumer (DTC) brands saw an increase in sales due to the pandemic because millions of people had to shop almost exclusively online. Global digital advertising spending is increasing year after year, accounting for a growing proportion of total media spending, estimated to average almost 54% worldwide in 2020. After 18 months of work, MACs concept store is another response to its loyal fanbase. For more, read our article, How Byrdie Toppled Billion Dollar Beauty Brands (Without Ads). 2021 Annual Report. Since first establishing itself as a go-to provider of AR for beauty tech in 2017, the Taiwan-based beauty company has expanded its virtual try-on offering, leveraging 3D face AR technology to let users virtually test an array of makeup products. Each virtual look is created based on whats trending and popular near each respective store. Alibaba reported eye-cosmetic sales increased 150 percent, month over month, during the week of February 18, 2020.2 By contrast, skin-care, hair-care, and bath-and-body products appear to be benefiting from self-care and pampering trends. For example, companies like Heyday, FaceGym, and Skin Laundry offer on-demand facials. Beauty brands such as Unilever, Este Lauder, LOral, Glossier, and Clinique are nearly invisible in the non-branded organic search landscape across skincare, makeup, and hair care. While the technology has existed for some years, the Covid-19 pandemic has solidified virtual try-ons place in the beauty industry, as customers seek personalized recommendations they can try on safely, often while shopping online from their own homes. Beauty Brands Focus on Acquisitions to Expand Product Portfolio. As the trend continues to gain traction, understanding the difference between niche and underserved audiences remains crucial, as there exist many demographics with untapped potential. This shift is accelerating as government regulation in the EU and select US states pushes CPG companies toward adopting more sustainable alternatives. For instance, in April 2022, RENEE Cosmetics, an Indian cosmetic brand, announced the launch of its new product range called Face Base for Indian skin types. Ascending at a CAGR of 5.61%, the global market will exhibit steady growth over the forecast period (2022-2029). portalId: "763793", Strategic B2B Content Marketing: How-to Guide for 2022, What is Content Marketing? Will consumers return to stores in the same numbers, or will they continue to buy online? . And this isnt just the case for informational keywords. ", Statista, Mac Cosmetics brand awareness, usage, popularity, loyalty, and buzz among beauty and health online shop users in the United States in 2022 Statista, https://www.statista.com/forecasts/1241179/mac-cosmetics-beauty-and-health-brand-profile-in-the-united-states (last visited May 01, 2023), Mac Cosmetics brand awareness, usage, popularity, loyalty, and buzz among beauty and health online shop users in the United States in 2022 [Graph], Statista, July 12, 2022. As a result, youll create a stronger bond between your brand and your customers. The online channel for beauty in the U.S. grew by 5.6% in 2020, while off-line sales contracted by 1.2% in the same year. However, the ultimate impact of these products will depend on how much consumers are willing to change their routines to adapt to these new formats, which may not be as convenient as traditional water-based products. The global cosmetics market size was valued at $380.2 billion in 2019, and is projected to reach $463.5 billion by 2027, registering a CAGR of 5.3% from 2021 to 2027. Social commerce already accounts for almost 12% of online sales in China . Supply Chain Disruptions Due to the Pandemic Affected the Market Growth. Many are addressing personalization with a variety of different technologies and approaches, such as: AI also presents a big opportunity for brands looking to further personalize processes, especially in areas like skincare analysis. TikTok, in particular, is a massive opportunity for brands, driving viral sales and reshaping consumer preferences. In comparison, NARS generated an average of 33 mentions per day, an average of 1.4 mentions per hour, which acquired 680,560 impressions and reached 250,600 users. With the flourishing fashion and entertainment industry, the demand for latest cosmetics is increasing significantly. However, because of their flexibility, convenience, and opportunities for personalization, at-home spa services likely arent going away. Many key manufacturers such as L'Oral S.A., Este Lauder Companies, Honasa Consumer Private Limited, and others in this industry also shifted their production toward natural cosmetic products. For example, D2C cosmetics brand. The market is projected to grow from USD 41.85 billion in 2022 to USD 61.34 billion by 2029, exhibiting a CAGR of 5.61% during the forecast period. Currently, beauty juggernauts are looking to indie brands to experiment in newer markets and nascent trends. But, in recent years, cosmetic brands have become more inclusive, dramatically expanding color options. The starting place is offering customers a superior buying experience, including both the products and themselves and the purchasing process. These technologies have caught the eyes of top beauty investors. The report includes analysis of regional as well as global cosmetics market trends, key players, market segments, application areas, and cosmetics market growth strategies. Clean beauty is another business growth area within the beauty industry to watch. Though theres been a lot of buzz around more effectively targeting people of color in the beauty sector, theres still much to be done. However, they still lag behind many publishers, blogs, and even health-related websites, depending on the type of keyword. As a Premium user you get access to the detailed source references and background information about this statistic. Copyright 2023 CB Information Services, Inc. All rights reserved. The rising inclination of consumers in terms of health awareness and toxicity created by the products is expected to restrict the product demand in the long run. When we zoom in to examine 109 product-related keywords within the Skincare market (which represent 4.64 million annual Google searches in the U.S.), six of the top 10 Google search results are publishers or blogs. For example, Glamera, which offers on-demand spa and makeup services, is based in Egypt. In-house incubators offer a way for conglomerates to build relationships or even gain equity stakes in these companies paving the way for future acquisitions as it becomes clear which early-stage brands will mature and which will fizzle out. Black dermatologists make up just 3% of the field in the US, which has marked effects on beauty product development. Livestreamer Jiaqi Li promoting beauty products on Alibabas platform. The major currents trends will shape the market in the positive side. Across the skincare queries that Terakeet examined, Amazon ranked eighth in organic market share. As people have spent more time working and socializing virtually, video filters could prove to be another expanding use case for virtual makeup. In makeup, Amazon ranked slightly better in position five. U.K., Germany, France, Italy, Poland, and Spain are the prominent markets of . Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, To access this forecast, you need one of our, Research Manager Consumer & Business Insights, Profit from additional features with an Employee Account. When it comes to beauty content marketing, the skys the limit. Increasing awareness toward personal grooming is accelerating market growth. Box 289 Buffalo, New York14216 1-877-553-5536 Driving Directions MAC Cosmetics Summary ABOUT Overview Make-up Art Cosmetics is a manufacturer and supplier of cosmetics products. Historically, the lions share of beauty products have been purchased in brick-and-mortar stores, but thats changing rapidly, with online sales projected to make up 48% of the total by 2023. Moreover, use of natural ingredients for manufacturing of cosmetics products, which does not have any adverse effect on skin, is a popular strategy of manufacturers to attract more customers. After all, Mr. Pinatel avowed passionately that MAC has always lead in inclusivity.. This factor also resulted in the development of low-cost counterfeit products with lower-quality ingredients that are not safe to use. The industry has recently observed an emerging trend of men using cosmetic products in their daily lives. Terakeet analyzed 3,168 high-value, non-branded beauty industry search queries, which account for 112.7 million annual Google searches in the U.S. These companies formulate and package products to improve convenience and user experience, which eases consumers into using more sustainable products without changing their routines to accommodate, for instance, scoopable shower gels or chewable toothpastes. Uniquely, The Innovation Lab is the integration of the best of both digital and retail worlds coming together for an AI beauty encounter. We use cookies to enhance your experience. Companies going after the space will have to calibrate their messaging carefully and prioritize transparency to successfully engage customers while managing expectations. CXOs further added that rise in consciousness regarding physical appearance among individuals as well as working class professionals propels growth of the cosmetics market. Think about that. These are already being offered by companies like Neom Organics and Aeroscena.

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