A recent research study by industry research firm RNCOS has found that by 2012, nearly 16% of the cosmetic industry’s revenue generated in Russia will come from colour cosmetic segment. “This segment has emerged as the one of the most dynamically growing segments of the industry, influenced by fashion trends and innovations,” comment the authors of the survey.
According to RNCOS, the sales of colour cosmetic products have grown by almost 11% in recent years, generating total business of more than US$ 1.5 billion (around EUR 1 billion) in 2008. The consumption of make-up and other coloured cosmetics among Russian women is the highest in the European region, with an estimated 80% of Russian women using colour cosmetics.
The report titled Russian Cosmetics Market Forecast (2008-2012) also found that the impact of financial crisis on colour cosmetics has been minimal as compared to other segments due to favourable shift in consumer behaviour among mass and luxury product categories.
“The forecast given in the report is based upon the correlation between past market trends, statistical analysis and industry drivers,” RNCOS claims.