According to analysts at Vantage Market Research, the Face Primer Market is expected to reach USD 3,012 Million by 2028, growing at a CAGR of 8.1 % between 2021 and 2028. Growing demand for face primer from the film industry is driving the market. Rising film productions and various OTT policies have considerably improved the demand for cosmetic products that is one of the essential parts of character description. The increasing expense of women on makeup and lifestyle is expected to create a huge demand for the market.
- The color correction type segment is projected to expand at the fastest CAGR exceeding 8.4% over the forecast period due to the increase of cosmetics creams that have been an integral part of lives, consumers, mainly women prefer to use cosmetics products like primer, which is applied before applying other creams for different purposes. With this becoming a popular trend, manufacturers are attracting customers and driving the primer market.
- The Online Store segment held a market share of around 30% in 2020. This share is due to the rising spending and availability of skincare products is expected to augment the growth of the market over the forecast period.
- Asia Pacific is expected to expand at a CAGR of over 8.8% from 2021 to 2028. This surge is attributed to the rising demand for the face primer market in developing economies such as China and India.
Further, the presence of large manufacturing is driving the market. The increasing population in developing countries along with the rising entertainment industry is assumed to boost regional growth.
North America is expected to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. Significant increase due to the increase in disposable income of the majority population in developed countries.
Some of the key players in the face primer market include Avon, City, Estee Lauder, Guerlain (LVHM), Revlon, MAC Cosmetics, Chanel, Laura Mercier Cosmetics, Smashbox, Studios, Shiseido, KAO, NYX Cosmetics., among others. The market is comprised of a high degree of competition due to the presence of numerous key players.