Rapid adoption of skincare products, growing demand for color cosmetics, increasing interest of men in cosmetic products, manufacturing innovations, and new product launches are some of the key factors contributing to the growth of the global makeup remover products market. Moreover, growing concerns regarding skin irritation and risk of diseases from improper removal of cosmetic products have also accelerated the sales of makeup removers. The makeup remover products market is primarily dominated by the wipes segment, which includes wipes, pads, clothes, and towelettes. On the back of these factors, global sales of makeup remover products reached US$ 1.5 Bn in 2018. According to PMR’s report, the makeup remover products market is estimated to register a decent CAGR of 7% during the forecast period of 2019-2027.
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Key Takeaways of Global Makeup Remover Products Market Study
- According to the report, the global makeup remover products market represents a fairly consolidated competition landscape, where a majority of key players are maintaining strategic focus on the development of products as well as frequent product launches.
- PMR identifies East Asia as the largest market for makeup remover products in 2019, followed by North America and Europe, attributable to the higher demand for cosmetic products and cosmetic removal solutions. Growing demand for cosmetic products, rising product awareness, and increasing popularity of J-Beauty and K-Beauty are the factors that have led to the East Asia market accounting for the highest sales of makeup removers.
- The face segment in the makeup remover products market is growing rapidly, as face makeup removers are the most demanded product among consumers.
- Online stores are projected to be the highest growth contributor to the makeup remover products market during the forecast period, on account of easy product availability, lower price as compared to physical channels, ability to compare products, and doorstep delivery.
Online Sales and Specialty Retail to Remain Key Sales Channels
The supermarkets/hypermarkets segment remained the highest value share contributor across all channels in the global makeup remover products market in 2018. However, online sales and specialty retail are expected to register higher CAGRs during the forecast period, owing to consumer inclination toward online purchases and preference for specialty stores for buying specific products. According to PMR’s study, the makeup remover industry is thriving immensely on e-Commerce platforms, owing to the ability to compare the prices of products, brands, and product variety, as well as the ability to read reviews of other consumers.
South Asia & Pacific to Offer Lucrative Investment Opportunities
The global makeup remover products market is growing at a steady pace. East Asia is poised to capture some market share from developed countries in North America and Europe, and is expected to remain the highest value share contributor, owing to the large population, growing middle-class consumer base, increasing inclination toward cosmetic products, and presence of cosmetic companies such as J-Beauty and K-Beauty in the region.
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