The global BB Cream Market is expected to reach $5.5 billion by 2027 -- and see robust growth, according to Future Market Insights (FMI).
The estimated average year-over-year growth during the forecast period, FMI reports, is 9%.
By 2020, we can expect to see the sales of BB cream exceed the revenue of $3 billion.
Promoted as an "all-in-one" beauty product that has been claimed to be superior to foundations and other conventional products, BB cream has been creating a buzz in the industry.
The forecast is good news for tube suppliers, since the majority of BB creams are in tubes. Shown above are BB creams by Dr. Jart (available at Sephora), NYX, and Tarte Cosmetics, all in tubes.
Who is Buying BB Cream?
Women make up the majority of BB cream consumers -- and account for over 90% of sales. This is expected to continue over the forecast period.
In addition, the increasing popularity of multi-functional makeup products will remain a key booster for the product in the years to come.
Where Are They Shopping?
Maximum BB cream sales are being accounted for by supermarkets and hypermarkets, followed by specialty stores.
Beauty stores are still lagging behind in terms of revenue contribution and hold a mere 8% share in the global BB cream sales. FMI foresees robust growth opportunities in the beauty stores and e-retail segments, however, due to the rapid growth of e-commerce as well as an increasing number of beauty stores.
Brands Investing in BB Cream
The most prominent companies actively investing in the BB cream market include Shiseido, Unilever, Christian Dior, Revlon, Inc., L'Oreal, The Estee Lauder Companies Inc., Coty Inc., Avon Products, Missha, L'Occitane, Amore Pacific, Tarte, Stila, Groupe Marcelle, Lancome, Physicians Formula, Bobbi Brown, Dr. Jart, and Clinique, among others.
Besides frequent product innovations, beauty brands are considering tracking of consumer perception as a decisive factor in the buying process.
See the report at the link above for company profiles, geographical information regarding sales -- and more.