As the United States is becoming more of a multicultural and mixed nation, where the Hispanic, Black, Asian, and multicultural populations are collectively growing two-to-three times the rate of the White population, the country is projected to become a majority-minority nation within the next 30 years, according to data from the U.S. Census Bureau. With the explosive growth of various ethnic groups, marketers are now competing from both ends of the spectrum for a share of the ethnic consumer’s pocketbook.
There are marketers who had historically targeted their products exclusively to specific ethnicities. Some, like Carol’s Daughter, are now positioning away from being an exclusively ethnic brand to target a broader audience. Concurrently, mainstream brands continue to develop tactics to capture a growing percentage of the ethnic personal care market.
The multicultural beauty products market has slightly outpaced growth of the overall market for cosmetics and toiletries, posting a 3.7% increase in 2014. More than 70% of multicultural beauty sales currently come from African Americans, followed distantly by Hispanics. At the same time, ethnic consumers and, specifically Hispanics and Asians, often use general cosmetics and toiletries which highlight new opportunities for marketers.
The ethnic beauty market is highly fragmented with the top ten companies accounting for a little over 40% of the total market in 2014. Several “mainstream” color cosmetic brands like Maybelline, Cover Girl, and Revlon offer makeup shades to cater to the needs of darker complexions. Meanwhile, ethnic brands have expanded their own offerings. For instance, Shea Moisture is now attempting to conquer the makeup category after realizing some success in hair care and skin care.
To better understand and capture a greater share in this rapidly growing market Multicultural Beauty and Grooming Products: U.S. Market Analysis and Opportunities provides an analysis of market size, competitive landscape, and trends in beauty and grooming among products marketed to the expanding ethnic community such as African-Americans, Hispanics, Asians, and those of more mixed race.