The new report by Expert Market Research titled, ‘Global Colour Cosmetics Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global colour cosmetics market, assessing the market based on its segments like applications, target markets, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): Approximately USD 8.3 billion
- Forecast CAGR (2022-2027): 5%
- Forecast Market Size (2027): About USD 12.8 billion
The growing beauty trend is boosting demand for versatile cosmetics, which is assisting the growth of the colour cosmetics industry. The market for colour cosmetics is also driven by a growing desire for products with bright and vibrant colours, particularly among young consumers. The growing preference for clean-labelled cosmetics made with ethical and skin-friendly ingredients positively impacts the industry growth. With the increased demand for effective cosmetic goods for a variety of skin colours and tones, prominent corporations are launching numerous research and development (R&D) initiatives to address these needs. This is anticipated to drive the global market for colour cosmetics. Additionally, the growing desire for selfie-friendly make-up is boosting the market for colour cosmetics by increasing the use of bright eye and lip make-up.
Industry Definition and Major Segments
Colour cosmetics are referred to colourants and cosmetic ingredients that are usually utilised in personal care products. They enhance the aroma and appearance of cosmetic products, owing to which they are used in nail care, eye make-up, lip care, and facial make-up products.
The market can be categorised on the basis of its target markets into:
- Mass Product
- Prestige Product
Based on application segments, the market is divided into:
- Facial Make-up
- Lip Product
- Eye Make-up
- Nail Product
The regional markets of colour cosmetics are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The market for colour cosmetics is driven by the rising demand for saturated-toned and organic colour cosmetics. As the COVID-19 outbreak escalated the trend of at-home beauty, the demand for innovative colour cosmetics for healing and balancing properties is surging, hence driving the market growth. The hybridisation of skincare ingredients with colour cosmetics to boost their skin benefits is expected to drive market growth. With the use of make-up as a way of self-expression by the millennial and Gen-Z population, the demand for versatile, bold, and vibrant colour cosmetics is increasing, which is estimated to propel the industry growth in the coming years. Additionally, the long-lasting and high-quality characteristics of clean colour cosmetics are growing in demand, contributing significantly to market growth. The market is being aided by the increased development of lightweight cosmetics formulated with clean-labelled chemicals for everyday usage.
Key Market Players
The key players in the market are Unilever N.V., L’Oréal Group, Shiseido Co. Ltd., The Este Lauder Companies Inc., Avon Products, Inc., and Chantecaille Beaute, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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