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Demand For Multifunction Products Helps Drive Growth In Color Cosmetics Market Worldwide

March 22, 2013: 12:00 AM EST
Consumers worldwide spent about $4.6 billion monthly on color cosmetics in 2012, driven in part by demand for beauty products that come with multifunctionality, according to Euromonitor International. Cosmetics companies have introduced products that feature beauty balm (BB) and, hence, function as moisturizer, primer, illuminator, and even as foundation. Nail polish also posted significant growth in 2012, with developed markets accounting for a large portion of growth, which reached $45 billion. For example, in the United States, the nail polish segment expanded with a compound annual growth rate of 17 percent in 2007 to 2012. Other top 10 growth markets include Germany, Italy, and France.
Rob Walker, "Multifunctionality: The Sweet (and Sour) Spot for Color Cosmetics", GCI Magazine, March 22, 2013, © Allured Business Media
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