The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2020
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Colour cosmetics in the Middle East and Africa faces severe challenges. Social media, women’s empowerment and product innovation positively influenced the market in 2019, but growth was hampered by cautious consumer spending and economic malaise, particularly given the impact of low oil prices on the region’s many oil-based economies. COVID-19 has caused further destabilisation, exacerbating these problems and negatively impacting demand for colour cosmetics as a direct result
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More women entering the workforce and the accordant rise in disposable income for this urban demographic has underpinned rising demand in 2019. But the impact of low oil prices has constrained faster growth, and these economic problems are worsening. In 2020, the destabilising influence of COVID-19 threatens to decimate growth prospects for colour cosmetics.
Consumers in the largest markets for colour cosmetics have benefitted from rising awareness and the availability of a wide range of brands across price points and quality levels, enabling women to use colour cosmetics on a regular basis. Markets in Sub-Saharan Africa have benefited from developing economies, encouraging the use of colour cosmetics.
L'Oréal Groupe, LVMH Hennessy Louis Vuitton, Estée Lauder Cos Inc and Coty Inc are the leading companies in colour cosmetics in the region. LVMH Hennessy Louis Vuitton has been able to capitalise on its retailer Sephora and the private label Sephora Collection. Fierce competition has, however, stemmed from indie and regional brands, as well as the existing leaders expanding their ranges.
Consumers look to social media for make-up trends and usage tips, and are posting their own images to their social media circle. Companies are seizing this opportunity, with multinationals sponsoring domestic and regional influencers. This echoes the rapid growth of e-commerce, particularly given the impact of COVID-19 on wider retailing in H2 2020.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.