The global anti-acne makeup market is expected to reach US$3.24 billion in the next six years, according to a new report.
The report, published by Reports and Data, says that the anti-acne makeup market, currently valued at US$2.36 billion, is projected to grow at four percent each year at least until the end of 2026.
The authors argue that the major forces behind growth in demand is simply “the increase in the number of people affected by this dermatological phenomenon”,currently about 10 percent of the population, and “a steep rise” in the number “consumers with high disposable income who are willing to spend on high end anti-acne products”.
Other key findings in the report include:
- Women are the largest section of anti-acne makeup consumers accounting for about 64.3 percent of the market.
- 65 percent of the revenue in the anti-acne makeup is earned from products which contain salicylic acid
- Asia Pacific is currently the largest consumer of anti-acne makeup products with 40.2 percent marketshare.
- The largest volume of anti-acne makeup sales (30 percent) take place in department stores and supermarkets
- Almost 18 percent of anti-acne makeup sales are made online.
According to the authors, the anti-acne makeup market is dominated by nine players who are primarily battling for a larger market share with cost-cutting strategies.
“This ‘price war’ among competitors takes a toll on profits,” said the report.
“The adverse competitive landscape forces the players to adopting a string of competitive pricing strategies where they lower their selling price slightly to capture the market.
“This ‘price cutting’ can take a toll on the profits as the prices of factor inputs either remain constant or increase, but never decrease.”
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