The Makeup Industry: Final Part
Consisting of a wide range of products like the pressed and loose powder, eyeliner, eyeshadow palette, lipstick, lipgloss and others, makeup today is a multi-billion industry; making it one of the most money-making businesses to venture, and it is open to all genders.
2020 was a real defining year for every industry and the cosmetic and beauty industry was no exception.
According to Forbes, today’s cosmetics industry is worth $532 billion, and is on a rapid upward trajectory ,as stated by a report released by retail analytics firm, Edited.
Also, according to Business Wire, the global face makeup market industry on its own, was worth $42.7 billion in 2020,and is expected to take a rise through 2021 to 2025.
The U.S. currently holds the world’s largest beauty market with 20% share, followed by China with 13% and then Japan with 8%.
The global cosmetic and beauty industry is estimated to potentially hit a jaw-dropping market worth of about $800 billion by 2025.
Fellas, brethren, loved ones, makeup lovers, with all these said…I guess you have a good reason to venture the makeup industry.