World News: 13:15 GMT Wednesday 14th August 2019. [Technavio Research via Businesswire via SPi World News]
The global makeup tools market 2019-2023 is expected to post a CAGR of over 10% during the forecast period, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global makeup tools market during 2019-2023. (Graphic: Business Wire)
The global makeup tools market offers a wide range of makeup tools, which vary in quality, size, and price. Consumers, particularly professional makeup artists, prefer premium makeup tools that last long and facilitate easy makeup application. Consumers, therefore, opt for makeup tools with premium qualities and multiple functionalities, regardless of the price. Moreover, consumers are willing to pay a high price for makeup tools of renowned brands. Thus, the premiumization of makeup tools is expected to drive the global makeup tools market during the forecast period.
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As per Technavio, the emergence of beauty and makeup tutorials will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Makeup Tools Market: Emergence of Beauty and Makeup Tutorials
Beauty and makeup tutorials, which are emerging at a rapid pace on the internet, are driving the adoption of makeup products and accessories, such as makeup tools. Easy access to free web tutorials has attracted consumers to use different types of makeup products and tools at home. Consumers, especially millennials, are more dependent on web tutorials to learn about various makeup techniques. There are several web tutorial sites on makeup and beauty available on the internet, such as Makeup Tutorials that have released several videos and blogs on makeups for eyes, lips, face, hair, and brows. These tutorial sites also provide lessons on the use of proper makeup tools, shades, and other beauty products. Budget-conscious consumers prefer to learn to do makeup themselves by adopting the DIY trend, which leads to the adoption of makeup tools among them. Therefore, the emergence of beauty and makeup tutorials on the internet is likely to propel the global makeup tools market during the forecast period.
“Apart from the emergence of beauty and makeup tutorials, the growing adoption of home makeup services, rise of online shopping, and increasing social media and celebrity endorsements are some other factors that will drive market growth during the forecast period,” says a senior analyst at Technavio.
Global Makeup Tools Market: Segmentation Analysis
This market research report segments the global makeup tools market by product (makeup brushes and other tools, and disposable makeup tools) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the rising number of beauty salons in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Business Wire: 13:15 GMT Wednesday 14th August 2019
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