Color cosmetics are a mixture of chemicals that are used to enhance the appearance or to divulge an aroma to the human body. Color cosmetics market is expected to witness growth, owing to increasing nail care segment. Introduction of various innovative color cosmetics products such as improved skin texture in facial makeup segment and other skin care benefits such as improvement in skin tone, moisturizing, and inclusion of anti-aging properties are expected to fuel growth of the color cosmetics market during the forecast period.
Color Cosmetics market was valued at US$ 70.4 Billion in 2021 in terms of revenue, exhibiting a CAGR of 4.7% during the forecast period (2022 to 2030).
Increasing inclination of women towards aesthetic appeal of beauty products is one of the major drivers for growth of color cosmetics market. Furthermore, new product launches such as new double wear foundation in 2020, increasing retail presence such as launch of new Sephora stores in Indian market are some of the factors playing a key role in market growth. For instance, Sephora, a premium cosmetics retailer opened over ten to twelve stores in 2018 across the Indian market. Furthermore, increasing disposable income of population across the globe coupled with increasing adoption of branded products are driving demand for premium color cosmetics products. Some of the leading key players in the color cosmetics market include Coty, Chanel, Estee Lauder, LVMH, and Shiseido.
Among regions, North America held the dominant position, in terms of revenue, in the global color cosmetics market in 2021, and accounted for a market share of 30.47%. This is attributed to rapidly growing cosmetic industry in U.S. and Canada.
Figure 1. Global Color Cosmetics Market Value Share (%), By Region, 2021
Lack of universal directives pertaining to applications of color cosmetics is expected to restrain market growth during the forecast period. Every country has different directives pertaining to use and applications of color cosmetics. Key players find it difficult to cope with such country wise regulations, which in turn is discouraging investment in the color cosmetics industry, thereby restraining market growth.
|Base Year:||2021||Market Size in 2021:||70.4 Bn|
|Historical Data for:||2017-2020||Estimated Year:||2022|
|Forecast Period 2022 to 2030 CAGR:||4.7%||Forecast Period:||2022-2030|
Beiersdorf, Krylon, Estee Lauder Companies Inc., Amway, Avon Products Inc., CHANEL, CIATÉ, Coty Inc, Estée Lauder Inc, Johnson & Johnson, KRYOLAN, L'Oréal S.A, Revlon, Inc., Shiseido Company, Limited and Unilever
|Restraints & Challenges:||
Growing sales of color cosmetics through online distribution channels a is key factor driving growth of market. E-commerce platforms allow consumers to compare a wide range of products before buying them. For instance, online cosmetic sales in China accounted for around 39% sales in 2021.
Figure 2. Global Color Cosmetics Market Value Share (%), By Distribution Channel, 2021
Among distribution channels, hypermarkets segment held highest market share of global color cosmetics market in 2021 owing to growing number of hypermarkets across the globe. As per the data published by global retail association there were 63,419 hypermarket businesses in the US in 2021. Thus, growing number of hypermarkets is expected to boost sales of color cosmetics, which in turn is expected to boost market growth.
Global Color Cosmetics Market - Impact of Coronavirus (COVID-19) Pandemic
Market was negatively impacted by the effect of COVID-19 pandemic. Major manufacturers of color cosmetics such as Beiersdorf, Krylon, Estee Lauder Companies Inc., Amway, Avon Products Inc., CHANEL, CIATÉ operating in market have their manufacturing & supply chain facilities across the globe. These players had halted production of color cosmetics in first and second wave of COVID 19 due to lowered demand, lockdown measures, supply chain bottlenecks, and to protect the safety of their employees.
Major players operating in the global color cosmetics market include Beiersdorf, Krylon, Estee Lauder Companies Inc., Amway, Avon Products Inc., CHANEL, CIATÉ, Coty Inc, Estée Lauder Inc, Johnson & Johnson, KRYOLAN, L'Oréal S.A, Revlon, Inc., Shiseido Company, Limited, and Unilever.
Color cosmetics are the colorants and other ingredients of cosmetics, which enhance the looks and form of the human body. Global color cosmetics market is expected to grow at a higher rate due to increasing demand for organic and natural products of cosmetic products, effective distribution channels, which provides higher availability to consumers, and technological development such as customized color cosmetics. These factors are expected to propel growth of color cosmetics market over the forecast period.
Asia Pacific is projected to hold the dominant position in the global color cosmetics market, followed by Europe and North America over the forecast period, owing to increasing demand for cosmetic products from economies such as India, China, Australia, and Japan. Furthermore, increasing awareness among consumers towards natural and organic cosmetic products due to presence of toxic materials in conventional cosmetics is fueling growth of the color cosmetics market in this region. For instance, in China from 2017 to 2020, 43.1% of consumers shifted from chemical cosmetic products to organic cosmetic products. Several manufacturers are expanding their color cosmetics product portfolio through various strategies such as mergers and acquisitions.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section
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