The global color cosmetics market was valued at US$ 62.36 billion in 2016 and is expected to reach US$ 90.16 billion by 2025, witnessing a CAGR of 4.22% over the forecast period (2017 - 2025), according to Color Cosmetics Market Report, by Product Type (Nail care, Lip Care, Eye Make-up, and Face Make-up) by Distribution Channel (Hypermarkets, Supermarkets, Specialty stores, and Online Stores).
Color cosmetics are used to enhance the appearance and the aroma of the beauty products such as eye shadows, powders, foundations, lipsticks, and oral care along with others. Increase in working class personals across the globe, availability of different brands in retail stores at different prices are key factors to market growth. Furthermore, growing awareness of using natural products is also driving the demand for organic color cosmetics market. As a result, several players such as Gemdo Cosmetics, OSTIUM Cosmétiques are gaining traction, owing to shifting preference for among consumers for using natural ingredients.
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Key Trends and Analysis of the Color Cosmetics Market:
- Increasing sales through online distribution channel is major factor driving growth of global color cosmetics market. Several companies have their own e-commerce platform and mobile apps to further increase their brand presence. For instance, in 2016, The Body Shop launched a new mobile responsive e-commerce platform. L’Oreal, one of the leading players in color cosmetics witnessed sale of 2.11 billion USD in 2016 through e-commerce platform. Furthermore, mobile applications such as Lakme MakeUp Pro has allowed customers to try new color shades and purchase online.
Key Takeaways of the Market:
- According to ’ analysis, Asia Pacific is the dominant region in the global color cosmetics market and was valued at US$ 18.40 Bn in 2016. This is owing to increasing awareness regarding skin damage caused due to sun exposure, which increases the demand for various skin care and anti-blemish products.
- Europe is expected to be the second largest market for color cosmetics market in terms of revenue over the forecast period. Continuous product innovation, new product launches and product endorsements are some of the key factors expected to drive growth of color cosmetics market in the region. For instance, television celebrity, Kendall Jenner was chosen as the brand ambassador for a new sub-brand of Estee Lauder range called Estee Lauder Edit launched in 2016, which targeted young consumers.
- Key players operating in global color cosmetics market include are Lo’real Group, Coty Inc., Krylon, Estee Lauder Companies Inc., Avon Products, Inc., Johnson & Johnson, Revlon, and Beiersdorf.