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 target markets, applications, 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.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 8.3 Billion
- Forecast CAGR (2022-2027): 7.5%
- Forecast Market Size (2027): USD 12.8 Billion
The growth of the colour cosmetics industry is being aided by the evolving beauty trend that is surging the demand for versatile cosmetics. The growing demand for cosmetic products with bold and vibrant colours, especially among young consumers, is driving the market for colour cosmetics. Moreover, the growing preference for clean-labelled colour cosmetics made with ethical and skin-friendly ingredients is positively impacting the growth of the industry. With the rising demand for effective cosmetic products for diverse skin colours and tones, various research and development (R&D) activities are being initiated by the leading companies to meet such demands. This is anticipated to propel the market for colour cosmetics.
Industry Definition and Major Segments
Colour cosmetics are colourants and cosmetic ingredients that are typically utilised in personal care products. They boost the aroma and appearance of cosmetic products, due to which they are deployed in nail care, lip care, eye make-up, and facial make-up products.
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The market can be broadly categorised on the basis of its target markets into:
- Mass Product
- Prestige Product
Based on applications 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 being driven by the growing demand for saturated-toned and organic colour cosmetics. As the COVID-19 pandemic escalated the trend of at-home beauty, the demand for innovative colour cosmetics healing and balancing properties is surging, hence driving the market growth. Moreover, the hybridisation of skincare ingredients with colour cosmetics to bolster their skin benefits is expected to drive the market growth. With the use of make-up as a form of self-expression by the millennial and Gen-Z population, the demand for bold, versatile, and vibrant colour cosmetics is increasing, which is estimated to propel the industry growth in the coming years.
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Key Market Players
The major players in the market are Unilever N.V., L’Oréal Group, Avon Products, Inc., The Este Lauder Companies Inc., Shiseido Co. Ltd., and Chantecaille Beaute Inc., 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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