Global Foundation Cream Market 2016-2020
About the Foundation Cream Market
A foundation cream is an integral part of any makeup regimen. The increase in the awareness of makeup and its role in enhancing outward appearance has positioned it as a daily necessity.
Cosmetic products have become a necessity as a tool to raise self-esteem and gain social acceptance. Although the concept of beauty differs from society to society, the increasing influence of social, print, and digital media has created an objective sense of beauty. This societal pressure to look beautiful has prompted more and more women around the world to use makeup. Since foundation is the base of any makeup regimen, its sales will grow in the forecasted period. Innovations in foundation creams such as lighter-textured foundation creams and CC creams for different skin tones are also increasing the demand for foundation creams.
Technavio’s analysts forecast the global foundation cream market to grow at a CAGR of 4.9% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global foundation cream market for 2016-2020. For calculating the market size, the sales of different types of foundation creams such as liquid foundation, tinted moisturizer, cream foundation, mousse foundation, stick foundation, and mineral and powder foundation are considered at suggested retail price. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Foundation Cream Market 2016-2020
Technavio recognizes the following companies as the key players in the global foundation cream market: Avon, L'Oréal, Estée Lauder, and P&G.
Other Prominent Vendors in the market are: AmorePacific, Chanel, Kao, Lotus Herbals, Neutrogena, Oriflame, Revlon, Shiseido, and Sephora.
Commenting on the report, an analyst from Technavio’s team said: “A trend boosting market growth is the growing availability of foundation creams for different skin types. Makeup has become a style statement. To capitalize on the increasing demand for makeup products, vendors in the makeup industry are launching a wide range of makeup products. Numerous high-quality foundations are available in the market in different colors, tones, textures and formulas. The high variety of products in the market make the selection process difficult for consumers. However, this confusion can be mitigated to an extent with the help of smartphones.”
According to the report, a key growth driver is the shift from planned to impulse purchasing. The sales of color cosmetic products like foundation cream depend on the successful marketing efforts of an organization such as advertising, sales promotion, personal selling, and public relations. These marketing tactics influence the impulse buying behavior of a consumer, which refers to unplanned or spontaneous purchases made in departmental stores or supermarkets.
Further, the report states that one challenge that could restrict market growth is the increased government regulations on animal testing.
Avon, L'Oréal, Estée Lauder, P&G, AmorePacific, Chanel, Kao, Lotus Herbals, Neutrogena, Oriflame, Revlon, Shiseido, Sephora.