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 | 29 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.
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