VALLEY COTTAGE, New York, March 11, 2019
VALLEY COTTAGE, New York, March 11, 2019 /PRNewswire/ -- At an estimated average Y-o-Y growth of 9%, BB cream sales will exceed the revenue of US$ 3 Bn by 2020. A research study by Future Market Insights (FMI) forecasts a robust growth outlook for the global BB cream market over upcoming years. Women will continue to account for over 90% of sales in the BB cream market. Increasing popularity of multi-functional makeup products will remain a key booster to BB cream sales in the years to come.
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APEJ Holds over 1/3rd Value Share, Combination Skin Type Forms Major Consumer Base
While Germany has been the largest market for BB cream, Asian economies such as Japan and Korea will remain the high-potential investment pockets for brands. Mounting popularity of multi-functional, cost effective makeup products has been cited as a significant demand determinant for BB cream within developing and developed regional markets. With more than 1/3rd of the total market value, APEJ maintains a dominant share in the global BB cream landscape, according to report. North America is also cited as a significant market for cosmetic brands selling BB cream.
More than 45% of the BB cream sales is accounted collectively by normal and oily skinned consumers. However, BB cream will remain most sought after among consumers who have a combination skin type, as indicated by FMI's analysis. The report envisages over a third of the total market value as contributed by the combination skin type segment. Consumers with sensitive skin type are least likely to prefer beauty products such as BB cream, says the report.
As per the Skin Care Foundation and EWG (Environmental Working Group), products with higher SPF are relatively superior to their lower-SPF counterparts in terms of UVB protection. As above 30 SPF tends to block around 98% of the UVB radiation, more than 50% of the total sales of BB cream will remain concentrated in the above 30 SPF segment.
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Brands to Focus on SRS by Innovating Existing Cosmetic Marketing Strategies
Maximum BB cream sales are being accounted by supermarkets and hypermarkets, followed by specialty stores. Beauty stores are still lagging behind in terms of revenue contribution and hold a mere 8% share in the global BB cream sales. However, with the rapid growth of E-Commerce and increasing number of dedicated outlets of beauty brands, FMI foresees robust growth opportunities in the beauty stores and E-Retail segments.
Promoted as an "all-in-one" beauty product that has been claimed to be superior to foundations and other conventional products, BB cream has been creating a buzz in the industry, recently. Besides frequent product innovations, beauty brands are considering tracking of consumer perception as a decisive factor in the buying process.
The report has profiled some of the most prominent companies actively investing in the BB cream market, including Shiseido Company Limited, Unilever, Christian Dior SE, Revlon, Inc., L'Oreal S.A., The Estee Lauder Companies Inc., Coty Inc., Avon Products, Inc., Missha US Inc., L'Occitane International S.A., Amore Pacific Corporation, The Clorox Company, Tarte Inc., Stila Styles LLC, Groupe Marcelle, Lancome SA, Physicians Formula Holdings Inc., Bobbi Brown Professional Cosmetics Inc., Dr. Jart, and Clinique Laboratories LLC. among others.
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While online brand reputation has become a paramount for brands across industries, especially B2C players, a number of brands such as LaRoche-Posay and Maybelline continue to focus their promotional strategies on creating an excellent SRS, i.e. Social Reputation Score. Reassessment of cosmetic marketing techniques will also be the key strategies adopted by companies to better shape consumer sentiments regarding the top performing trending products in the beauty circle, such as BB cream.
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