Global Color Cosmetics Market, By Target Market (Prestige Products, Mass Products), By Application (Nail Products, Lip Products, Eye Make-up, Facial Make-up, Hair Color Products, Special Effect Products, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global color cosmetics market is estimated to reach at a value of US$ 7,447.4 Mn by the end of 2020 and expected to reach at a value of US$ 12,961.5 Mn by 2028 with a significant CAGR of 7.2%.
Cosmetics are substances used to embellish the entire aroma or appearance of an individual. It comprises a vast and extensive range of materials such as skin-care lotions, powders, creams, lipsticks, perfumes, eye and facial makeup, nail paints, and many other products. In a similar manner, the color cosmetics are personal care and beautifying products that enrich and complement the physical appearance of an individual.
The color cosmetics majorly pertains to cosmetic ingredients and colorants that are used for personal hygiene, skin-care, oral care, hair care, facial makeup, and fragrance. Owing to the increased concern and consciousness among the population, worldwide, regarding their physical appearance and overall looks is one of the prime factors that is boosting the growth of the global color cosmetic market.
In addition to that, the beneficial attributes of the color cosmetics, such as cleansing, beautification or modifying appearance and improving charming traits, also plays a positive role in escalating the demand of color cosmetics in the global market. Therefore, the color cosmetics industry growth is estimated to elevate significantly in the forthcoming years.
However, the high cost of color cosmetics as well as lack of accessibility, especially in few particular remote areas, are likely to be retraining factors for the growth of the global color cosmetics market in the years to come.
Furthermore, the government and regulatory authorities have also implemented certain regulations and policies regarding safety and purity of the color cosmetics, which may further hinder the growth of the global color cosmetics market over the forecast period.
Nevertheless, the increasing disposable income along with the increased standard of living of people all around the world is as yet expected to advance the growth of the global color cosmetic market in the coming years.
Apart from that, the global market is witnessing enormous demand for organic and green products, in the modern-day world, which may induce the leading manufacturers of the market to transition to mainstream mass retailing from the niche distribution channels. Such factors are further projected to grow considerably in the near future.
What is more is the growing penetration of cosmetic products via online retailing channels which is also playing a major role in augmenting the growth of the global color cosmetic market over the coming years.
MMC Study identifies some of the key participating players in the color cosmetic market globally are L'Oréal Group, Estée Lauder Companies Inc., Avon Products Inc., Coty, Inc, Revlon Group,, among others.
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