With restrictions on movement outside of the home after the introduction of another lockdown in the first months of 2021, many Malaysians significantly reduced their expenditure on perceived non-essential products such as colour cosmetics due to remote working and limited socialising opportunities. This resulted in declining demand across most of the category with the exception of BB/CC creams, although its performance was subdued compared to its dynamic growth recorded over the review period as a whole, and nail products which benefited from consumers attempting to replicate the salon experience at home due to the closure of non-essential beauty salons.
Health and beauty specialist retailers remained the leading channel for colour cosmetics in 2021. While this channel lost value share to e-commerce during the pandemic as consumers moved online due to concerns about spending too long in public, popular health and beauty specialists Watsons and Guardian were able to cover both offline and online sales due to their omnichannel strategies.
L'Oréal and Estée Lauder Cos Inc retained their overall leadership of colour cosmetics in 2021. While they were the only players to hold double-digit value share overall, they lost ground to smaller players under “others” as price-sensitive consumers headed online to find more attractive prices.
Demand for colour cosmetics is predicted to improve in 2022 as COVID-19 related restrictions are further relaxed, before gaining stronger momentum over the remainder of the forecast period. While pent-up demand is set to drive higher value growth (at constant 2021 prices) compared to the review period as consumers gradually return to indulging in higher quality products, price sensitivity is likely to remain for some Malaysians, with mass products continuing to gain share from the premium segment over the forecast period.
The forecast period is also likely to see further launches of hybrid brands which allow colour cosmetics to expand by appealing to consumers who appreciate multi-purpose products. This trend is set to include the further exploration of combining facial make-up such as foundation/concealer or BB/CC creams with skin moisturisers as offered by Korean brand April Skin Real Calendula Ampoule Glow Cushion which claims to moisturise, soothe and brighten skin, and IT Cosmetics Your Skin But Better CC+ Cream SPF50 which offers the multifunctionality of concealer, foundation, anti-ageing serum, moisturiser and protection in a wide range of shades to suit different skin types.
While price sensitivity is likely to remain an issue for some Malaysians, and mass products are likely to continue to gain share from the premium segment, premium colour cosmetics brands might benefit from the opening of more standalone premium beauty specialist retailers in the country, such as that of Chanel, Yves Saint Laurent and Dior. Marketing events and new product innovations will likely entice consumers; one such example is Laneige’s new NEO Foundation, a lightweight foundation that is available in matte and glow finish, and that is claimed to protect skin against harmful emissions from digital gadgets.
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Understand the latest market trends and future growth opportunities for the Colour Cosmetics industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Colour Cosmetics industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Colour Cosmetics
This is the aggregation of facial make-up, eye make-up, lip products, nail products and colour cosmetics sets/kits.
See All of Our DefinitionsThis report originates from Passport, our Colour Cosmetics research and analysis database.
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