The color cosmetics market in Portugal is forecasted to see growth in upcoming years, despite a decreased spending capacity due to the difficult economy and increasing taxation. According to a report by Euromonitor International, the country's color cosmetics market is expected to see a CAGR of 2% at constant 2013 prices over the forecast period.
Portuguese consumers demonstrated a continued interest in color cosmetics, considering them a small and affordable luxury to improve their mood. The category is still small in Portugal compared to other European countries, which gives the category room for growth.
The major player in the market is L'Oréal Portugal, which continued to lead color cosmetics in 2013, based on the success of brands such as L'Oréal Paris and Maybelline. The company's main strength lies in its numerous umbrella brands, which cover the entire range of color cosmetic categories, and cater to a wide variety of consumer needs.
The difficult economic context will, to a certain extent, be an opportunity for this category, as women will see color cosmetics as a small and affordable luxury, able to compensate for other consumption frustrations.