The annual growth rate since 2002 has been between 4 and 7 percent on a global scale, although the North American market dropped from 31 percent of the global sales to 27 percent between 20. According to data from the NPD Group, Inc., the luxury cosmetic industry has seen substantial growth over the last 14 years, increasing by 6 percent between 20. The makeup segment includes lipstick, nail polish, blush, foundation, eyeshadow, and other cosmetic products used for beautification. This industry, also referred to as the personal care industry, has five main segments:
Customers in the Western part of the world spend more on makeup, although those in Asia and India are starting to catch up. About $40 billion is in the Americas, while the other $130 billion is spread across Asia, Europe, Australia, and Africa. The global cosmetics industry is valued at over $170 billion per year. Makeup is more than pretty packaging, and consumers are always looking for quality cosmetics that make them feel good about themselves. It can be a confidence-builder since some women feel more attractive when they wear makeup. Sometimes, they just don't feel as “complete” without some kind of makeup on. Makeup is very important to many girls and women.
There's a lot of competition in the makeup industry, so carving out your unique niche is important for being successful.
To figure out how to start a makeup line you'll have to create a detailed business plan and determine what will set your cosmetics line apart.