Color Cosmetics Market Overview:
Global Color Cosmetics Market was valued at $5,875 million in 2016, and is projected to reach $9,555 million by 2023, registering a CAGR of 7.4% from 2017 to 2023. Color cosmetics are the combination of chemicals used for enhancing the appearance or imparting aroma to the human body. These cosmetics include facial make up products, nail care products, lip care products, and eye make-up products. These products are easily available at exclusive brand outlets, supermarkets, and specialty stores and are available through online channels. Rise in concerns related to appearance and growth in the disposable income in the emerging economies, such as India, Brazil, and Indonesia, drive the market growth for color cosmetics. Moreover, multiple benefits of color cosmetics products, such as anti-aging and anti-tan, drive the market growth.
The global color cosmetics market is segmented based on target market, application, and geography. Based on target market, it is classified into prestige products and mass products. The mass products segment is anticipated to dominate the global color cosmetics market during the forecast period, owing to the innovation and affordability. However, the prestige products segment is estimated to witness the highest growth rate. Based on application, it is categorized into facial make up, lip products, eye make up, and nail products. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Color Cosmetics Market Segmentation
Asia-Pacific is expected to witness the highest growth rate in the global market, owing to the high demand from the emerging economies such as India, China, Indonesia, and others. In addition, growth in monetary independence of working women is expected to increase the demand for color cosmetics. Moreover, increased disposable income, rise in standard of living, and growth in awareness about appearance boost the market growth in the Asia-Pacific region.
Top Investment Pockets
The color cosmetics market in South Korea is anticipated to be the most lucrative market for manufacturers in the near future, owing to availability of snail secretions, pearl powder, and starfish extract. Natural ingredients, such as ground bamboo, seaweed, venom, and Tremella mushrooms, are trending color cosmetics and skincare products in South Korea. Color cosmetics made from the aforementioned natural ingredients are collectively known as K-Beauty and is witnessing rapid growth in the recent years.
Global Color Cosmetics Market: Top Investment Pockets, by Country
In 2016, the facial make up segment accounted for the highest share in 2016, registering a CAGR of 7.5% from 2017 to 2023. The facial make up segment is driven by multiple benefit make up products, such as anti-aging cream and UV protection lotions. In addition, innovations in this segment, such as creating foundations that offer light-capturing crystals, fuel the market growth.
The color cosmetics industry in Brazil is estimated to be the fourth largest in the world and is estimated to attract manufacturers in the near future. However, awareness about appearance in the Middle East countries, such as Saudi Arabia, UAE, and Egypt, is estimated to grow at a faster rate than Latin American countries. The market growth in Middle East countries is due to urbanization and increased disposable income.
Lamea Color Cosmetics Market, 2016-2023 ($Million)
The key players profiled in the report include Unilever N.V., L’Oreal Group, Avon Products, Inc., The Estée Lauder Companies Inc., Kryolan Professional Make-Up, Shiseido Co. Ltd., Chantecaille Beaute Inc., Coty Inc., Ciaté London, and Revlon Inc.
The other key market players of the value chain (not profiled in this report) include LVMH Moët Hennessy Louis Vuitton SE, Procter & Gamble Co., Natura Cosméticos S.A., AmorePacific Corporation, The Colgate-Palmolive Company, Henkel AG & Co. KGaA, Mary Kay Inc., L Brands Inc., and KOSÉ Corporation.
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global color cosmetics market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the potential markets for growth of the color cosmetics industry.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies and prevailing market opportunities.
- Key market players and their strategies & developments are profiled in the report to understand the competitive outlook of the market.
Color Cosmetics Market Report Highlights
By TARGET MARKET
Key Market Players
CHANTECAILLE BEAUTE INC, COTY INC, UNILEVER N.V, REVLON INC, CIATE LONDON, KRYOLAN PROFESSIONAL MAKE-UP, AVON PRODUCTS, INC, SHISEIDO CO. LTD, THE ESTE LAUDER COMPANIES INC, LOREAL GROUP
Color cosmetic products are used to enhance the external appearance of a human body. These products comprise facial & eye products, lip care products, and nail care products. They are available in supermarkets and specialty outlets. However, the most trending channel of distribution for color cosmetics is through online platforms.
The mass products segment dominated the global color cosmetics market in 2016, owing to the affordable range of products. Innovations in mass products by manufacturers and multiple advantages offered by mass products are the major reason for the growth of mass products.
Rise in demand for color cosmetics products in the beauty industry is expected to drive the market growth. In addition, growth in disposable income across emerging economies, such as India, Brazil, UAE, and Saudi Arabia, has fueled the market growth. Moreover, financial independence of working women is the key factor driving the market growth.