Size is expected of the global color cosmetics market will grow from $78.0 billion in 2020 for $120.0 billion by 2027, with a CAGR of 6.35% from 2021 to 2027. Colored cosmetics are a mixture of chemicals used to enhance the appearance or scent of the human body. Cosmetics such as face makeup, nail care, lip care, and eye makeup are included in this category. These products can be found in a variety of places, including exclusive brand outlets, supermarkets, specialty stores and online. The growth of the color cosmetics market is fueled by rising concerns over appearance and increasing disposable income in emerging economies such as India, Brazil, and Indonesia. Furthermore, the market is driven by the multiple benefits of tinted cosmetic products, such as anti-aging and anti-tanning.
The color cosmetics market in developed countries such as North America and Europe and in emerging countries such as Asia-Pacific and Rest of the World is driven by increasing disposable income, taking increasing awareness of appearance and improving quality of life. Furthermore, rising consumer awareness of personal care, organic cosmetics, technological advancements in colored cosmetics, eye-catching packaging, and growing consumer awareness of fashion trends are expected to drive the demand for colored cosmetics. .
In addition, increased brand awareness and market growth has been driven by increased spending power of women and significant investments in marketing and advertising, including promotions on social media platforms. and celebrity endorsements. The expansion of digital marketing has also been a driver of market growth, with organic beauty products seeing significant growth. The market is also benefiting from increased awareness of animal health and environmental protection.
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Impact of COVID-19 on the Global Color Cosmetics Market
COVID 19 is a global pandemic that has affected a large part of the population. Consumer shopping and business activities are at a standstill due to the global spread of covid-19. As a result of pandemic lockdowns, which have limited people’s exposure to the outside world, demand for cosmetics has declined. The closure of specialist beauty shops, which allowed customers to try on products on board, led to a further drop in sales. The cosmetics industry’s supply chain has been severely damaged due to the blockade, which is expected to have long-term consequences. As a result, consumers’ dependence on cosmetics has decreased significantly. The COVID-19 outbreak has also had a negative impact on market growth. Although the COVID-19 pandemic has had a significant effect on the global beauty industry, major color cosmetics companies may recover quickly by temporarily focusing on manufacturing disinfectants and products for beauty professionals. health. On the other hand, the color cosmetics market is a long-standing industry that has accumulated many loyal customers over time.
Global color cosmetics market dynamics
Drivers: the rise of organic cosmetics
The increasing use of organic cosmetics is expected to drive the market growth over the forecast period. The extreme climate has promoted the adoption of face care products such as moisturizers and sunscreens, and in a polluted environment, consumers prefer natural products, especially face care. Several new brands are offering organic and natural products due to the increasing importance given to personal care and appearance by consumers. Additionally, manufacturers or companies of face care products are partnering with influencers to promote their brands and e-commerce businesses to reach a wider audience and expand their customer base. They also run paid ads on YouTube and Instagram to increase brand awareness.
Moreover, on YouTube, there is 50% discount on beauty content videos and tutorials based on makeup. To achieve a better appearance, sunscreens and moisturizers are commonly used in cosmetics. The face serum is used in the same way in the make-up routine. Cleansers are also designed to remove everyday grime like makeup, excess oil, and pollutants. Additionally, BioClarity launched its omnichannel at Ultra Beauty, the largest beauty retailer, in February 2021. On ulta.com, customers can find a wide range of bioClarity products. Through this partnership, BioClarity would be able to connect with more Gen Z beauty customers and young millennials at Ulta Beauty.
Restrictions: Awareness of the environment and the protection of animals
Rising awareness of the importance of environmental preservation and animal protection has prompted manufacturers to shift to herbal cosmetics, influencing the growth of the market. Cosmetics sales also fell due to the negative effects of chemical-based cosmetics on the skin and body. Governments in many countries have imposed regulations on resource use and environmental protection. Another factor acting to slow down the market is the spread of the coronavirus, which has disrupted the supply chain and slowed the growth rate of the market.
Opportunity: technological advance in cosmetic coloring
Over the next few years, increasing technological advancements in the field of color cosmetics will create profitable growth opportunities in the market over the forecast period. Technological improvements are creating new and great opportunities for small and large cosmetics companies, allowing them to promote products to consumers. There are various technologies in the market including color change technology and color change sensors among others. Researchers have measured the importance of the skin microbiome in hygiene and personal care thanks to the advent of metagenome and biogenetic technologies. As a result, cosmetic scientists have focused on its vital link to beauty and well-being. However, consumer education is an essential link that the industry must create.
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The study categorizes the purpose and application based on the global Tinted Cosmetics market regionally and globally.
By target (Revenue, billion USD, 2017-2027)
- Prestigious products
- Mass products
By Application (Revenue, USD Billion, 2017-2027)
- face makeup
- Lip products
- eye makeup
- Hair coloring products
- Special effects products
- Nail products
By Region (Revenue, USD Billion, 2017-2027)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, rest of Asia-Pacific)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
The mass-produced segment of the global color cosmetics market is expected to account for the largest share of the target
The global color cosmetics market has been segmented into mass-produced and prestige-based products based on the purpose. The mass-produced car segment accounted for the largest share of the global color cosmetics market in 2020. Due to the obvious innovation and affordability of the segment, mass-produced products are on the rise. The prestige segment, on the other hand, is expected to grow at the fastest rate. In developing Asian Pacific countries, the demand for prestige and mass products is growing rapidly. Additionally, the benefits associated with prestige products entice more customers to spend more while increasing customer loyalty.
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Asia-Pacific accounts for the highest CAGR over the forecast period in the global cosmetics market
Based on regions, the global color cosmetics market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Four main countries namely China, India, Japan and rest of Asia-Pacific are analyzed in Asia-Pacific. Asia-Pacific ranks second in the global color cosmetics market. China accounted for a large share of this market in 2020 and India is expected to grow rapidly over the forecast period.
Due to strong demand from emerging economies such as India, China, Indonesia and others, Asia-Pacific is expected to grow at the fastest pace in the global market. Additionally, as the financial independence of working women grows, the demand for tinted cosmetics is expected to increase. Additionally, increasing disposable income, higher standard of living, and greater awareness of personal aspect are driving the market growth in Asia Pacific. Additionally, owing to the availability of snail secretions, pearl powder, and starfish extract, the color cosmetics market in South Korea is expected to be the most profitable market for manufacturers. in a close future. Natural ingredients such as ground bamboo, seaweed, poison and Tremella mushrooms are popular in South Korean cosmetics and skin care.
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Main market players
The global color cosmetics market is slightly concentrated in nature with few global players operating in the market such as Unilever NV, L’Oreal Group, Avon Products, Inc., The Estée Lauder Companies Inc., Kryolan Professional Make-Up, Shiseido Co.. Ltd., Chantecaille Beauté Inc., Coty Inc., Ciaté London and Revlon Inc., among others. Other market players include Procter & Gamble Co., Natura Cosméticos SA, AmorePacific Corporation, The Colgate-Palmolive Company, Henkel AG & Co. KGaA, Mary Kay Inc., L Brands Inc., and KOSÉ Corporation. These players have adopted various winning strategies to earn higher odds or maintain leading positions in the market.