Makeup tools market to grow $862m by 2025
The makeup tools market is projected to grow by $862.43 million by 2025, according the a report by Technavio.
With an expected compound annual growth rate of 6.85%, Technavio anticipates the US, China, Brazil, Germany, France and the UK will emerge as the key revenue-generating economies in the makeup tools market.
Makeup tools include of variety of makeup brushes for face, eyes and lips, along with tweezers, beauty blenders and eyelash curlers. One of the primary growth drivers for this market is "premiumization", with consumers willing to pay a high price for premium makeup tools offered by renowned brands such as L'Oréal.
Technavio emphasised that consumers, particularly professional makeup artists, prefer premium makeup tools that last long and facilitate easy makeup application.
In addition, the emergence of beauty and makeup tutorials is another key trend influencing the growth of the makeup tools market. Easy access to tutorials are encouraging consumers to use different types of makeup products and tools at home.
However, data suggested that the increasing preference for applying makeup using fingers among makeup artists and professionals may hinder the growth in the market, especially the makeup brushes segment.