Future of Colours (2023-2024)

The Global Colour Cosmetics market, at a Glance

• Global Colour Cosmetics market size grew by +8% (YOY) in 2022 to $67.6 billion, which is forecast to reach $73 billion by the end of 2023.  

• Strong global growth across all cosmetics sub categories, buying patterns throughout 2023 amidst the costing of living crisis show the ‘lipstick effect’ in full play – consumers are purchasing snackable, lower value cosmetics and trading down to private label lines. 

3 Key Micro Trends to Watch

Hero hybrids – Skinimalism will increasingly evolve beauty categories and be prioritised due to the cost-of-living crisis, with hybrid formats and spotlight protective, hydrating ingredients front and center.   

Skin health first – Proven to penetrate the skin’s barrier more effectively, fermented and microbiome ingredients will be key to restoring the skin’s microflora in base make-up products. 

Enter the beautyverse – digital realities add another level of service and discovery to cosmetics products, particularly for playful Gen Z.