According to a new report published by Introspective Market Research, titled, “Color Cosmetics Market by Type (Prestige Product, Mass Product), Application (Nail Product, Hair Product, Lip Product, Eye Make-up, Facial Make-up, Others), Distribution Channels (Online, Offline), and Region Global Market Analysis and Forecast, 2023-2030,” the global Color Cosmetics market size was valued at $57.48 billion in 2023, and is projected to reach $129.47 billion by 2030, registering a CAGR of 12.3% from 2023 to 2030. Color cosmetic components that are used to improve a person's physical appearance are referred to as color cosmetics. Color cosmetics are sometimes known as personal care items. A vast array of items, including foundations, eyelashes, lipsticks, powders, nail paints, and more, are included in the category of color cosmetics. The market for color cosmetics is growing as customers want to constantly look ready for a selfie. Customers have also mentioned how color cosmetics have empowered and boosted their self-confidence, helping them to improve their mental health.
The market for color cosmetics is expected to grow at a faster rate because to all of these factors. Color cosmetics have been used for makeup since 10,000 B.C., when both Egyptian men and women used scented ointments and oils to soften their skin and further conceal body order. It also provided shelter from the dry air and scorching Egyptian sun. To giving consumers a boost in self-esteem, color cosmetics offer properties that can change the way that skin, hair, and nails look while they are being worn. The market is expected to develop at a rapid pace during the forecast period due to the growing usage of color cosmetics to conceal acne, look younger, and decrease fine lines and wrinkles on the face.
Personal grooming and self-presentation are highly valued in today's society, with social media, celebrity culture, and the fashion industry making women more aware of how they look. Due to the increased demand for color cosmetics that improve natural attractiveness and boost self-confidence, there has been a spike in the market for makeup, skincare, and hair products. The cosmetics sector has seen a considerable transformation thanks to technological breakthroughs that have improved the usability and appeal of products. The market's growth potential is boosted by women's preference for multifunctional, long-lasting beauty products, which is a result of increased interest in technologically advanced beauty solutions.
Market participants are being forced to offer genuine, toxin-free, and chemical-free beauty products due to consumers' increased preference for chemical-free products. There has been a noticeable surge in the market for cosmetics made from plants or organic materials. The market participants now have the chance to invest in the research and development of natural-source color cosmetics that don't cause any adverse skin reactions. The increasing inclination of consumers towards branded products due to their perceived quality and safety, leading players in the beauty product industry are venturing into new areas for color cosmetics
Global Color Cosmetics Market, Segmentation
The Color Cosmetics market is segmented based on packaging type, application, Distribution Channels and region.
Type:
The market for color cosmetics is divided into high-end and low-end items. Because of growing consumer awareness of the legitimacy of beauty products intended for use on the face and body, the prestige product category is predicted to dominate the market. The market is developing because of the increasing consumer preference for personal skincare products to improve the condition of skin, hair, and nails. This is driving up the high consumption of prestige products.
Application:
The facial makeup category holds the largest market share. The increased demand for facial-up products is being driven by customer awareness of the need to hide aging lines, cover up dark circles, and improve facial appearances. The sun protection factor (SPF) cream, moisturizer, face cream, foundation, and other items in the facial makeup category give skin on the face aesthetic and protective properties. The lip products category is anticipated to hold the second-highest market share in the cosmetic care industry due to improved lip health and increased disposable income. Products like lip balm and lipstick are available in this section.
Region:
The expansion of the color cosmetics market is expected to be dominated by the Asia Pacific region. growing self-consciousness about appearance, and fashion trends are the main drivers of this region's color cosmetics market expansion. The expansion of the color cosmetics market is being supported by the rising demand for these products from nations like China, Indonesia, and India.
Some of The Leading/Active Market Players Are-
- Cargill Incorporated (Us)
- Coty Operations B.V. (Us)
- Revlon (Us)
- Johnson & Johnson Consumer Inc (Us)
- Amway Corp. (Us)
- Acme Cosmetic Components (Us)
- Chantecaille Beaute Inc (Us)
- Unilever (Uk)
- Avon (Uk)
- Ciaté London (Uk) and Other Active Players
Key Industry Developments
In September 2022, Revlon launched its experiential brand location in Delhi, India. The store features the full line of Revlon colour cosmetics, skincare, and personal care goods along with a few Revlon Professionals and Street Wear Products. The flagship store will offer a comprehensive range of hair and makeover services, comprising hair coloring with the Revlon Professional line, hair care, hair cutting, and hair styling as well as party makeovers and basic grooming, all performed by experts.
In May 2021, Avon launched ANEW Hydra Pro Vita-D, a water cream to provide up to 72 hours of hydration. It is formulated with the power of Vitamin-D which helps in maintaining skin hydration. ANEW Hydra Pro Vita-D helps in activating Vitamin-D in surface skin cells and strengthens the surface skin barrier and addresses uneven skin tone, noticeable skin lines, and dull-looking skin.
Key Findings of the Study
- Growth is driven by increasing demand for prestige skincare products and facial makeup.
- The Asia Pacific region leads market expansion due to growing self-consciousness about appearance and fashion trends.
- Countries like China, Indonesia, and India contribute significantly to the rising demand for color cosmetics.
