Cosmetics are products intended for purification, scent, or aesthetic improvement. The foundation is a kind of face cosmetic that produces a coherent color, conceals errors, and alters the skin tone. Foundation cream is designed to provide a special touch to the skin, regulate oils, shines off the skin, and provides matt finish. Foundation cream acts as a sunscreen, moisturizer, and astringent. Cosmetics are used for enhancing self-esteem and achieving social acceptance. The notion of beauty varies from one culture to another, as the social, print, and digital media have grown their effect. The promotion of social media and advertising influence the market's growth as customers adjust to the usage of foundation cream. Online retailing of personal care and beauty products are on the rise as consumers have a wide-ranging option to choose from, and it is convenient to order.
COVID-19 Impact Analysis
- The advent of the global pandemic, COVID-19, has affected the cosmetics foundation cream market negatively. Foundation cream is a personal skin-care product that helps to moisturize and radiate the skin. During the ongoing pandemic, the foundation cream was not considered a necessary product. Therefore, the demand for cosmetics foundation has decreased during these times.
- As the COVID-19 pandemic has forced countries to enforce lockdown, the supply and distribution chain had disrupted. The shifting of activities in operations and vendor operations impacted the production. Hypermarkets/supermarkets and convenience stores were closed, creating a gap in demand and supply.
- The production process for new batches of foundation cream had become a challenge for companies due to the limited availability of labor, disrupted supply of raw material, and logistic issue.
Top Impacting Factors
- Changes in lifestyle, rapid urbanization, and daily grooming habits have increased the demand for cosmetics foundation over the past few years. Personal grooming has majorly influenced the increased usage of foundation cream, forcing the companies to level up their production.
- The growing population and the urge of consumers to look good all day have further fueled the demand for cosmetics foundation. The population in the rural area is also adapting the usage of foundation cream, forcing the companies to shift their focus from metros to exploring the rural market.
- In developing economies, consumers of rural area are price-sensitive and opt for a low price product. On the other hand, the metropolitan population is interested in the high-priced product to satisfy their esteem needs. The demand for both types of products is forcing the companies to increase their production to meet the market demand and ensure there is no gap between demand and supply.
Consumer preferring for organic variant foundation cream over a chemical variant
The importance of organic products is rising due to their long-term benefit. Chemical infused foundation leads to acne and increases the chances of developing rashes. The advancement of technology and the better utilization of herbs and medicinal plants are giving a new scope for developing products to repair skin damage. Though, 100% organic foundation comes with a hefty price tag which is higher than conventional chemically processed cosmetics foundation. Infusing the essential vitamins in the foundation is helping to nourish and improve skin condition. Due to the introduction of innovative product variants, there is a surge in demand for the products.
The introduction of small bottle packs is improving the sales
The rural population of a developing country doesn't encourage buying a foundation that comes in large quantity as the requirement for the product is not so high daily. The manufacturing companies recognized the consumer behaviour of the rural market and introduced a small bottle pack of product that comes for a low price with single or multiple uses. The small bottle pack has improved the sales of foundation and has reached remote parts of the country.
Social media plays a vital role in the advertisement
The companies approach renowned social media creators to endorse their brand as they have a high social media following; the advertisement expected to reach a large group of people. Promotion is creating awareness in the customer to have better-radiating skin and control the oil secretion. By the advertising, the companies are conveying a message that by using their foundation cream the consumer is expected to achieve a glow in their face.
Key Benefits of the Report
- This study presents the analytical depiction of the foundation cream industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the foundation cream market share.
- The current market is quantitatively analyzed to highlight the cosmetics foundation market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed foundation cream market analysis on the basis of competitive intensity and how the competition will take shape in coming years
Questions Answered in the Report
- Who are the leading market players active in the foundation cream market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Foundation Cream Market Report Highlights
By End User
By Distribution Channel
Key Market Players
L’Oreal S.A., Lotus Herbals Pvt Ltd., Sheseido Co, Ltd., Kao Corporation, Johnson & Johnson Limited, The Unilever Plc, The Estee Lauder Companies, Inc., Proctor & Gamble Pvt. Ltd., Avon Products ,Inc., Revlon Inc.