Boston, MA -- (ReleaseWire) -- 06/18/2014 -- In 2013 the current value growth of colour cosmetics was fuelled by the rising demand for more sophisticated products. Rising urbanisation and an increasing number of working women who attached more importance to their looks were also major contributors to growth. With improved economic conditions, consumers started demanding higher-quality and more premium colour cosmetics, particularly in the last few years of the review period.
In 2013 Kosan Kozmetik held the leading share in colour cosmetics with its Flormar brand. This was the best-established and most trusted local brand, which was acquired by the multinational Yves Rocher in 2012. It has a price advantage over its international competitors, yet offers good-quality products. It managed to increase its share at the end of the review period, thanks to high brand recognition. Furthermore, the company owns an increasing number of stores and kiosks under the name Flormar in the retail market, in which only its products are sold, which also contributed greatly to its share increase. Also, the company launched a high number of new products in 2013, including Flormar CC cream, Flormar Perfect Legs Foundation, Flormar Revolution Volume Mascara and Flormar Wet Look Nail Enamel.
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Over the forecast period colour cosmetics is predicted to see a value CAGR of 6% at constant 2013 prices; similar to the CAGR seen over the review period. This growth is expected to be stimulated mainly by increased investment by companies in terms of new product developments. Due to consumer demand for better-quality products, increased company investment in masstige products and a focus on premiumisation are expected. Companies are expected to focus on higher-quality lines or develop new lines with a masstige image. Increased urbanisation and a higher number of women attaching greater importance to their looks, together with more promising economic conditions towards the end of the review period, will also be important factors for growth.
Discover the latest market trends and uncover sources of future market growth for the Colour Cosmetics industry in Turkey with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Colour Cosmetics industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.
The Colour Cosmetics in Turkey market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
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