MarketThe makeup brushes market is to propel and is expected to grow at a CAGR of 8.5% for the forecast of the year 2021 to 2028. The global makeup brushes market is accounted for USD 1.56 Billion for the year 2020 and is expected to reach USD 2.89 Billion for the year 2028 according to analysts at Vantage Market Research. Makeup brushes are makeup tools that are made of bristles either synthetic or natural on a handle of a particular style used to apply makeup or face painting. The makeup brushes market is driven by the factors such as increasing fashion trends and growth of the fashion industry and advancement in the new brushes that are smoother and less complicated to apply, rising influencers in social media.
Since the outbreak of the COVID-19, It has widely spread all over the world and has impacted many countries' economies, and caused huge losses in businesses. The makeup brushes market is experiencing negative growth due to supply chain disruptions, but also due to lowered demand and lowered production rate.
The makeup brushes market is segmented on the basis of type and supply chains. The types segment is further bifurcated into synthetic hair brushes and natural hair brushes. The synthetic sector is holding the largest share and shows potential growth in future forecasts. The distribution channel segment is divided into online retailing and offline retailing. Based on these the offline has the largest share and potential growth for further forecasted years.
The major players for the makeup brushes market are Maybelline, Etude House, ., Sigma Beauty, Shiseido, Hakuhodo, L’Oreal, Avon, and Chanel.
Regionally, the market is segmented as Asia-Pacific, Europe, North America, the Middle East, and Africa, and Latin America. North America attained the highest share due to the presence of key players and increasing the cosmetics and beauty industry and more acceptance of makeup normally.