Report

Global cosmetics foundation market is a dynamic and integral segment of the broader beauty and personal care industry. Cosmetics foundation, which includes products like liquid foundation, powder foundation, and cream foundation, is vital in enhancing skin appearance and complexion. The market size was valued at USD 2.52 billion in 2022, expected to reach USD 4.08 billion in 2030, with a CAGR of 6.2% for the forecast period between 2023 and 2030.
The market's outlook is shaped by various factors, including evolving beauty trends, changing consumer preferences for organic and clean-label products, and advancements in product formulations. One of the primary drivers of the global cosmetics foundation market is the increasing focus on physical appearance and grooming. As societal norms continue to evolve, the desire for flawless and radiant skin has become a common aspiration, especially among the growing millennial and working women demographics. This has increased demand for facial cosmetic products, including foundation, which can provide a natural and polished look.
Another significant trend in the cosmetics foundation market is the shift toward natural and organic products. Consumers are becoming more conscious of the potentially harmful effects of chemicals like parabens and aluminium in cosmetics. As a result, many consumers are turning to products made with natural ingredients. This has prompted manufacturers to innovate their facial cosmetics by incorporating natural elements.
Traditional heritage brands have faced challenges maintaining their market share in this changing landscape. The cosmetics market is now seeing a rise in storytelling brands emphasizing values such as vegan, cruelty-free, organic, and natural concepts. These brands resonate with evolving consumer preferences and have been gaining market traction.
Moreover, there is a growing demand for specific types of cosmetics foundation. Long-lasting and waterproof makeup, sun protection makeup with SPF, and vitamin-enhanced makeup have been gaining popularity. This presents a significant opportunity for key players in the market to innovate and meet consumer demands by providing a diverse range of foundation products. In February 2022, e.l.f. Cosmetics introduced its Camo Powder Foundation, addressing concerns with an all-in-one solution. This foundation offered a long-wear formula infused with primer, ensuring a smooth and lasting finish. It was available in 30 shades and claimed to provide medium-to-full coverage with a crease-resistant, semi-matte result.
Shifting Societal Norms and an Emphasis on Physical Appearance Fuelling the Demand for Cosmetics Foundation
Changing beauty standards are a significant influence on the global cosmetics foundation market. Evolving societal ideals of beauty, often driven by social media and the fashion industry, play a crucial role in shaping consumer preferences. Consumers seek products that help them achieve the latest beauty trends, such as a flawless complexion, highlighted features, or a natural, "no-makeup" look. These changing standards have led to a growing demand for foundation products that offer various finishes, coverage levels, and formulations. Brands continually innovate to provide consumers with the tools to meet these evolving beauty ideals, such as long-lasting and buildable foundations. Adapting to changing standards is a strategic imperative for cosmetic companies looking to stay relevant and thrive in this dynamic market. In April 2023, Avon extended its reach on Amazon, starting with over 300 products and expanding its offerings in the future.
Liquid Foundations Hold the Largest Market Share
Liquid cosmetics foundation stands as the most prevalent and widely used type of foundation globally. Its immense popularity can be attributed to its versatility and adaptability to various skin types and preferences. Liquid foundation offers a smooth and easily blendable texture, allowing users to achieve their desired level of coverage, from light to full. It comes in various formulations to suit different skin types and finishes, whether matte, dewy, or natural. The convenience and ease of application make liquid foundation a top choice among consumers, and its global dominance in the cosmetics market proves its widespread appeal and effectiveness. In August 2023, Glossier, Inc. introduced its new Stretch Fluid Foundation, part of an expanded complexion range with seven shade categories and undertones. This gel-cream emulsion foundation featured plant-derived squalane for skin nourishment and a blend of pigments and amino acids for flexible, skin-friendly coverage.
Desire for Dewy Skin Driving the Demand for Cosmetics Foundation
Majority of the people aspire to achieve naturally radiant and dewy skin with ease, hence the dewy finish has emerged as a significant driver in the global cosmetics foundation market. Consumers gravitate towards foundations that provide a luminous, dewy finish, imparting a fresh and youthful appearance. Dewy finish foundations offer hydration and a natural glow, particularly appealing to those with dry or mature skin. The desire for a "no-makeup makeup" look has amplified the preference for dewy finishes, as it creates a subtle, light-reflecting effect. Leading cosmetic brands are innovating to meet this demand, offering a wide array of dewy finish foundation products, thereby contributing to the growth of the global cosmetics foundation market. In February 2023, DEWY LAB, a leading clean beauty brand in China, launched the Morning Dew Cushion Cream Foundation, which provided a moist, glowy finish. Certified safe for sensitive skin, it features skin-improving properties and soothing effects.
Advances in Cosmetic Science and Technology Enabling the Development of Foundation Products
Innovative formulations are exerting a profound influence on the global cosmetics foundation market. Consumers are increasingly seeking foundations that offer more than just coverage; they desire additional skincare benefits. This has led to developing foundations enriched with ingredients like hyaluronic acid, antioxidants, vitamins, and sun protection factors. These innovative formulations not only provide a flawless complexion but also cater to specific skincare needs, such as hydration, anti-aging, and UV protection. Furthermore, advancements in long-wear and transfer-resistant formulations are enhancing the durability of foundations, appealing to individuals with active lifestyles. These innovations are reshaping the cosmetics foundation market, as consumers look for products that deliver both cosmetic and skincare advantages, driving demand for these modern formulations. In September 2022, Kao Corporation launched KANEBO LIVELY SKIN WEAR, a creamy gel foundation aiming to enhance skin texture and impart a vibrant, healthy complexion. The foundation was available in eight shades, designed and claiming to bring out each individual's natural beauty.
Impact of COVID-19
Global cosmetics foundation market experienced a significant impact from the COVID-19 pandemic. Lockdowns, restrictions, and consumer safety concerns reduced the demand for cosmetics, including foundations. With limited events and gatherings , people had fewer opportunities for full-face makeup, causing a temporary dip in sales. Additionally, the economic uncertainty affected discretionary spending on cosmetics. However, the pandemic accelerated e-commerce, with many consumers turning to online shopping for their beauty needs. The cosmetics foundation market adapted by offering virtual try-on tools and expanding its online presence. As the pandemic progressed, the market witnessed a surge in interest in skincare-infused foundations as consumers sought products with added benefits. As restrictions eased, there was a gradual recovery, but changing consumer preferences and the online shopping shift continued to shape the market.
Key Players Landscape and Outlook
Global cosmetics foundation market is highly competitive and is characterized by key players such as L'Oreal S.A., The Estee Lauder Companies Inc., Shiseido Company, Limited, and Revlon, Inc. These industry leaders continually innovate to cater to evolving consumer preferences. They offer various shades and undertones to emphasize product quality, skin-friendly formulations, and inclusivity. Moreover, they invest in marketing, endorsements by celebrities and influencers, and expanding their distribution channels to reach a global audience. As beauty standards evolve, these companies adapt their product lines to offer dewy, matte, long-lasting, and skin-improving foundations.
For instance, in March 2023, Guerlain introduced its first innovative foundation, Guerlain�s Terracotta Le Teint, combining a lightweight powder-infused liquid formula that offered a matte finish while maintaining a radiant look for dry skin. This versatile foundation was available in 30 shades, featuring 16 intensities and three undertones, using the proprietary Gemtone technology.
The outlook for these key players remains positive as they stay attuned to market trends and consumer demands while exploring sustainable and clean beauty alternatives.