The Consolidated Turnover of North America Makeup Palettes market estimated to grow at a modest rate and reach the mark of USD 448.90 Million by 2026
Published | July 2020
North America Make-up Palettes Market has maintained its growth pace in recent years. Its aggregate revenues are likely to grow at a modest CAGR of 3.65% during the projection period 2020-2026, and touch the level of USD 448.90 million by 2026. Eye-shadow, in a make-up palette, is used to provide hues to the eyes. The full availability of easy-to-use eye-shadow has influenced sales, thereby increasing the make-up palettes market size. The growing demand for natural and organic color cosmetics is expected to have a positive impact on the make-up palettes market in the US. Of late, consumers have become increasingly aware of the harmful effects of synthetic chemicals used in color cosmetics. Such awareness improves the demand for natural and organic color make-up palettes across the region.
Daily Use Segment plays a vital role to drive the Make-up Palettes market.
Make-up palettes are used for different purposes by individuals and industries. The key segments, as per its use, include daily use and performing use. The nude eye shadow shades are generally used to embrace a natural make-up for corporate & professional look in daily lives by working women. The entertainment and fashion industry use it for performing purposes. The growing promotional strategies and increasing shift towards the fashion industry are some other factors propelling the demand for performing application sector assuring the market growth.
Increasing Social Media Advertisement and Promotion Outlay is the Major driver for the North America Makeup Palettes market
New variations in products and advertisement/promotions are driving the overall Make-up palettes market. The popularity of eye make-up brands can be attributed to social media. Over the last few years, the rapid growth of social media platforms has offered market players the opportunity to advertise their products, which, in turn, has positively affected market growth. Various products are endorsed and promoted by beauty bloggers and influencers on social media platforms such as Instagram, Twitter, and Facebook.
Key players are investing in these factors to influence the buying decisions of the consumers and increase the popularity of products in the retail landscape. The major players are going through a transformation, spending more on their advertisement and promotion influenced by the digitalization of the world. Moreover, consumers are attracted to products due to the increasing shelf space in retail stores. These factors are anticipated to drive the sales of Make-up palettes market in upcoming years.
The United States is likely to witness significant growth in the market during the forthcoming period.
The United States Makeup Palettes market is mainly driven by increasing use of eye make-up to look attractive. Along with the promising growth of the make-up Palettes market and increasing demand for natural cosmetics, is also contributing to the growth of the North America make-up Palettes market.
Make-up Palettes: Competitive Landscape
Key players in North America Makeup Palettes Market are L'Oréal SA, THE ESTÉE LAUDER COMPANIES INC., Revlon, Inc., Louis Vuitton SE, COTY INC., Shiseido Company, Limited, ELF Cosmetics, Avon Products, Inc., Anastasia Beverly Hills, Morphe LLC and others.