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July 31, 2013

Multi-Functional Offerings Drive Growth in Facial Make-Up

Oru_MohiuddinAnalyst Insight by Oru Mohiuddin, Senior Analyst - Beauty and Personal Care, Euromonitor International

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At over 30%, foundation/concealer made the greatest contribution in absolute terms to the growth of colour cosmetics in 2012, while other facial make-up, inspired by BB creams, experienced the strongest year-on-year growth in facial make-up of 12%. The facial make-up category has benefited from the growing popularity of multi-functional products. While BB creams combine a multitude of skin care benefits with make-up coverage, foundations are increasingly incorporating anti-ageing technology in their formulations, leading to a blurring of the lines between facial make-up and skin care. These multi-functional products now sit alongside tinted moisturisers and standard foundations, adding to consumer confusion. Given the wide variety of products available in the marketplace, the question remains as to which are likely to survive long term in such a competitive environment? Despite the potential confusion multi-functional products can create in the minds of consumers, they do offer value for money, thus clearly indicating that multi-functionality will become increasingly prevalent.

New technologies aid growth in foundation/concealer

The use of foundations has been increasing due to breakthrough innovative product developments. Earlier forms of foundations had a heavier texture and lacked a natural finish. A key challenge in foundation formulation has been combining ingredients that provide good coverage but have a lightweight feel and a more natural finish. New developments such as light optimisation technology using a new genre of pigments have heralded a breakthrough as foundations can now combine all these features. For example, Clarins Skin Illusion Natural Radiance Foundation SPF15 and Lancôme Teint Miracle use light-reflecting technology, providing the illusion of naturally radiant skin. This new generation of products has helped to drive growth in the foundations/concealer category but it has been BB creams which have generated greater interest more recently. Over 2007-2012, other facial make-up recorded a 12% CAGR thanks to BB creams, compared to 3.4% for foundation/concealer over the same period.

BB creams spur growth and impact the evolution of the foundation/concealer category

The introduction of BB creams not only triggered growth in facial make-up but also gave greater momentum to the multi-functionality trend. BB creams were the first of their kind in Western markets, offering multi-functional benefits and aligning skin care with make-up coverage. The popularity of BB creams further inspired foundation brands to combine make-up coverage with skin care benefits and skin care brands with make-up coverage. For example, Lancôme’s Teint Visionnaire is a foundation that offers more lightweight natural looking coverage with anti-ageing benefits. Similarly, Clarins’ Extra-Firming Foundation SPF15 claims to combine skin firming and age-fighting ingredients for a younger-looking complexion to help minimise imperfections, while delivering a smooth, more radiant and even complexion. Added skin care features to foundations have contributed to positive year-on-year growth, steadily increasing from 3.1% in 2010 to 4.1% in 2012.

The projected trend in facial make-up

Facial make-up is increasingly leaning towards multi-functional products, with existing brands offering some form of additional benefit and thus reinforcing the fact that multi-functionality is here to stay, while at the same time also indicating that tinted moisturisers and standard foundations could become extinct altogether. However, within multi-functionality, there will be increasing segmentation. Clearer lines will be drawn between multi-functional products whose multiple features are combined for symbiotic purposes and those which are combined to provide time and price benefits.


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