Global Color Cosmetics Market Outlook, 2028

Global Color Cosmetics Market Outlook, 2028

The global colour cosmetics market is expected to grow due to an increase in consumer interest in self-care, an improvement in cosmetic product quality, and increased awareness of beauty products among end users. Another major factor contributing to the growth of the colour cosmetics market is consumers' preference for natural and organic products over synthetic ones. Furthermore, the growing popularity of organic products among consumers has increased the demand for sustainable and natural alternatives in the cosmetics industry. Growing demand for organic and vegan products is associated with consumers who are beauty conscious and place a premium on organic and chemical-free cosmetic products. Furthermore, the growing customer preference for value-for-money cosmetic products containing both natural and beneficial ingredients is propelling emerging markets, while new developments are another important factor bolstering market growth. In addition, the combination of colour cosmetics and skincare ingredients to improve their benefits is expected to boost market growth. Furthermore, the reduced consumption provided by such products is causing a surge in their demand. As millennial and Gen-Z consumers use make-up as a form of self-expression, the demand for bold and flashy colours is increasing, bolstering the market for colour cosmetics. Furthermore, the growing popularity of K-beauty is driving up demand for multi-purpose products that can be used as both cosmetics and skincare. This is fueling the development of innovative and cost-effective colour cosmetics, which is expected to boost market growth over the forecast period.

According to the research report, ""Global Color Cosmetic Market Outlook, 2023–28,"" published by Bonafide Research, the market was valued at USD 93.22 Billion, which is expected to cross USD 130.11 Billion by the end of the forecast period. The market is anticipated to grow at 5.38% CAGR by 2023–28. Besides this, the introduction of virtual try-on features in online apps, which allow consumers to try makeup products in real-time and obtain a personalized skin analysis and skincare routine, is contributing to the market growth. Apart from this, due to the growing consumer awareness of natural cosmetics, companies are focusing on replacing synthetic ingredients with natural plant-based colorants. This can also be attributed to a considerable shift towards sustainable raw materials due to increasing environmental consciousness. Furthermore, the introduction of premium color cosmetics in innovative packaging designs is anticipated to create a positive outlook for the market. Aside from that, the introduction of virtual try-on features in online apps, which allow consumers to try makeup products in real-time and obtain a personalized skin analysis and skincare routine, is fueling market growth. Aside from that, companies are focusing on replacing synthetic ingredients with natural plant-based colorants as consumer awareness of natural cosmetics grows. This can also be attributed to a significant shift towards sustainable raw materials as environmental consciousness grows. Furthermore, the introduction of premium colour cosmetics in innovative packaging designs is expected to boost the market's outlook.

In Global, based on product type, the market is divided into facial colour products, nail colour products, hair colour products, lip products, and eye makeup products. Among them, facial colour products will have the highest market share in 2022 due to rising consumer awareness of beauty trends and bettering lifestyles. Face powder, moisturizer, and face cream are among the products available. Cosmetic products are in high demand due to the growing trend of beautifying the face to improve facial structure, conceal ageing lines, and conceal dark circles. Plastic surgery is prohibitively expensive, and the availability of these cosmetics at lower prices has resulted in increased consumption of cosmetic products, which has aided market growth.

Based on face makeup, the market is divided into foundation, loose face powder, concealers, blush, and other facial products. The growing demand for products that cater to a diverse range of skin tones. Consumers are increasingly looking for foundations that offer a wider range of shades to ensure that they can find a match for their skin tone. Many brands have responded to this trend by expanding their shade ranges to include more options for darker skin tones. Furthermore, consumers are also seeking lightweight and breathable foundation formulations that provide coverage without feeling heavy or cakey on the skin. Many brands are developing foundations with lighter textures and more natural finishes to cater to this trend. In addition, while translucent loose face powders have always been popular, there is a growing trend towards tinted loose powders that offer additional coverage. Tinted loose powders can be used on their own or over foundation to provide a more natural-looking finish. Many brands are expanding their colour ranges to cater to this trend.

The market is divided into Eye Liners/Pencils, Eye Shadow, False Eyelashes, and Other Eye Makeup Products (False Eyelashes, Eye Primer). Eye liners and pencils are used to define and enhance the eyes. They come in a variety of formulations, including pencil, liquid, and gel, and are available in a range of colours. The trend in this segment is towards long-lasting and waterproof formulas that are smudge-proof and can withstand daily wear. Brands are also incorporating nourishing ingredients like Vitamin E and coconut oil to provide hydration and nourishment to the delicate eye area. Furthermore, false eyelashes are used to add volume and length to natural lashes. They come in a variety of styles, from natural to dramatic, and can be made from synthetic or natural materials like mink or silk. The trend in this segment is towards more natural-looking false eyelashes that are lightweight and easy to apply. Brands are also creating innovative styles that cater to different eye shapes and preferences.

The lip product segment is also expected to grow significantly during the forecast period. The growing purchasing power in developing and developed countries and the rising beauty trend among the younger generation are supporting the segmental growth. Consumption of these lip products has been increasing due to improved daily lifestyles. Moreover, the growing number of working women is expected to further drive this market. However, during the forecast period, the lip product segment is also expected to grow significantly. Growing purchasing powers in both developing and developed countries, as well as a rising beauty trend among the younger generation, are driving segment growth. Lip gloss, lip liners or pencils, lip sticks, and other lip products (lip primer, lip plumber) are examples of lip products. Consumption of these lip products has increased as people's lifestyles have improved. Furthermore, the growing number of working women is expected to drive this market even further.

The use of chemical-based colour cosmetics is associated with a number of side effects. Chemical-based colours are used in the production of these cosmetics, which can harm human skin and cause a variety of skin diseases. This is one of the major factors that will limit market growth during the forecast period. The absence of universal directives governing the use of colour cosmetics is expected to limit market growth during the forecast period. Each country has its own set of rules regarding the use and application of colour cosmetics. Key players are finding it difficult to comply with such country-specific regulations, which is discouraging investment in the colour cosmetics industry and stifling market growth.

The market is divided into nail products, including nail polish, nail removers, nail treatments and strengtheners, and other nail products (base coat, top coat, nail art stickers). Nail polish is a colored lacquer applied to the fingernails and toenails to add colour and shine. It comes in a variety of finishes, including matte, shimmer, and metallic, and can be formulated with a range of ingredients like UV filters and strengthening agents. The trend in this segment is towards long-lasting, chip-resistant formulas that provide high shine and vibrant colours. Brands are also incorporating more natural and sustainable ingredients, like plant-based oils and pigments, to cater to consumer preferences. Furthermore, nail treatments and strengtheners are used to repair and strengthen weak and brittle nails. They come in a variety of formulations, including serums, oils, and polishes, and can be enriched with ingredients like keratin and biotin to promote nail growth and health. The trend in this segment is towards more natural and plant-based formulations that cater to consumer preferences for clean and sustainable products. In addition, the hair colour product segment includes permanent and temporary colours. Permanent hair colour is a hair dye that chemically alters the natural pigment of the hair and provides long-lasting colour. Furthermore, this segment is geared towards more natural and organic formulations that are free from harsh chemicals like ammonia and parabens. Moreover, brands are also incorporating additional benefits like conditioning agents and UV filters to protect and nourish the hair.

Recent Developments:
• The Estée Lauder Companies (ELC) announced the opening of its new, cutting-edge distribution centre in Galgenen, Switzerland, on June 5, 2022, to accommodate the dynamic and future growth of its global travel retail business. This new 300,000-square-foot facility expands the company's distribution footprint in Switzerland. Estée Lauder Companies (ELC) will use this facility to distribute its prestige beauty products and high-touch services to travellers all over the world.
• In April 2022, Kryolan expands its presence in India by opening a store in Mumbai, India. Kryolan, a German-based global professional make-up brand, has expanded its retail presence in India with the opening of a new store in Mumbai. Kryolan is a well-known brand in the professional make-up industry for fusing science and beauty. Kryolan's business presence in India and neighbouring countries will be strengthened as a result of this expansion.
• May 2022: Maybelline New York debuted its newest product, Super Stay Vinyl Ink Liquid Lip Colour, from L'Oréal. The colour of the no-budge vinyl lasts up to 16 hours. Among the ten colours of Super Stay Vinyl Ink Liquid Lipcolor are lippy, peachy, coy, red-hot, unrivalled, cheeky, witty, capricious, wicked, and royal.

Major Companies present in the market:
L'Oréal S.A., Dabur Ltd, The Himalaya Drug Company, Hindustan Unilever Limited, Marico Limited, Lotus Herbals Pvt Ltd., VLCC Personal Care Limited, Chanel, Henkel AG & Co. KGaA, The Estée Lauder Companies Inc., Revlon Group, Coty Inc, Shiseido Company, Natura&Co, Kao Corporation, Godrej Consumer Products Limited, LVMH Moët Hennessy Louis Vuitton, Amorepacific Corporation , Oriflame Cosmetics AG, Clarins Group.

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Color Cosmetic market with its value and forecast along with its segments
• Region-wise Color Cosmetic market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Product Type
• Facial Color Product
• Nails Products
• Hair Color Products
• Lip Products
• Eye Makeup Products

By Face Make-up
• Foundation
• Loose Face Powder
• Concealers
• Blush
• Other Facial Products

By Nails Products
• Nail Polish
• Nail Removers
• Nail Treatment/ Strengtheners
• Other Nail Products (Base coat, Top coat, Nail art stickers)

By Hair Color
• Permanent
• Temporary

By Lip Makeup
• Lip gloss
• Lip Liners/Pencils
• Lip Sticks
• Other Lip Products(lip primer, lip plumber)

By Eye makeup
• Eye Liners/Pencils
• Eye Shadow
• Mascara
• False Eyelashes
• Other Eye Makeup Products (False Eyelashes, Eye)

By Price Range
• Mass
• Premium

By Gender
• Men
• Women

By Distribution Channel
• Specialty Store
• Brand Outlets
• Online Channel
• Convenience Stores
• Other Stores (salon)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to color cosmetic industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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