Global Color Cosmetics Market Overview, 2023-28

Global Color Cosmetics Market Overview, 2023-28

Colour cosmetics are a broad term that encompasses a variety of make-up products designed for everything from the skin and cheeks to the lips and eyes. Makeup has been used for centuries to hide flaws, improve overall physical appearance, and define features. Furthermore, Cosmetics contain a diverse range of ingredients. Colour cosmetics, unique fragrances, and cleansing agents are examples of these ingredients. Regulatory authorities are constantly taking steps to limit the use of ingredients that cause health problems. Governments have imposed stringent rules and regulations governing the use of natural and organic colour cosmetics in the manufacture of cosmetic products, which are expected to drive the colour cosmetics market's growth rate. In addition, shelf life development, a shift in consumer preference for natural cosmetic products, improved living standards, an increase in the use of herbal ingredients in cosmetic products, and the availability of natural and organic colour cosmetics are some of the major factors expected to drive the growth of the colour cosmetics market during the forecast period. Furthermore, many manufacturers and small businesses are collaborating with social influencers and celebrities to increase consumer demand for cosmetic products through digital marketing channels. Furthermore, as a result of the pandemic, many consumers have shifted to online platforms to purchase cosmetic products, positively affecting the colour cosmetics market trends. This has also influenced many small businesses and retail outlets to promote the product on social media platforms in order to generate revenue.

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. The growing urban population, rising income levels, and increased awareness among individuals about their physical appearances are among the key factors positively influencing the market. Furthermore, the development of social commerce platforms that allow consumers to interact with brands or purchase a product or service through non-traditional channels, such as online forums or social media platforms is boosting market growth. Furthermore, with the increased use of social media and advanced data analysis, brands are increasingly delivering relevant and targeted advertisements to consumers in order to increase the global sales of colour cosmetics. 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.

The market is divided into five product categories: facial colour products nail colour products, hair colour products, lip products, and eye makeup products. Because of rising consumer awareness of beauty trends and bettering lifestyles, facial colour products will have the highest market share in 2022. Among the products available are face powder, moisturizer, and face cream. Furthermore, the market is divided into foundation, loose face powder, concealers, blush, and other facial products based on face makeup. The rising popularity of products that cater to a wide range of skin tones. Customers are increasingly looking for foundations with a broader shade range to ensure they can find a match for their skin tone. In addition, while translucent loose face powders have always been popular, there is a growing trend towards tinted loose powders that provide more coverage. To achieve a more natural-looking finish, tinted loose powders can be used alone or over foundation. Many brands are expanding their colour palettes to accommodate this trend.

Eye Liners/Pencils, Eye Shadow, False Eyelashes, and Other Eye Makeup Products (False Eyelashes, Eye Primer) comprise the market. To define and enhance the eyes, eye liners and pencils are used. They are available in a variety of formulations, including pencil, liquid, and gel, and in a variety of colours. This market is moving towards long-lasting, waterproof formulas that are smudge-proof and can withstand daily wear. Nutritional ingredients such as Vitamin E and coconut oil are also being used by brands to hydrate and nourish the delicate eye area. Eye Liners/Pencils, Eye Shadow, False Eyelashes, and Other Eye Makeup Products (False Eyelashes, Eye Primer) comprise the market. To define and enhance the eyes, eye liners and pencils are used. They are available in a variety of formulations, including pencil, liquid, and gel, and in a variety of colours. This market is moving towards long-lasting, waterproof formulas that are smudge-proof and can withstand daily wear. Nutritional ingredients such as Vitamin E and coconut oil are also being used by brands to hydrate and nourish the delicate eye area. Lip gloss, lip liners or pencils, lip sticks, and other lip products (lip primer, lip plumber) are also examples. People's use of these lip products has increased as their income has increased.

• In July 2021, Bloomers declared the introduction of a new brand of color cosmetics in India. They are providing extensive range of products such as lipsticks and foundations which will be available in pharmacy stores and local marts.
• In April 2021, Amyris, which is a leading biotech company declared the acquisition of Beauty Labs International. This became the 7th clean color cosmetics brand of its portfolio.
• On 3 January 2020, the L’Oréal Group launched its beauty tech innovation to reinvent the entire hair coloration category: Colorsonic, a lightweight, handheld device that uses an innovative, mess-free process to mix hair color and apply it evenly, delivering consistent hair color results for consumers at home, and Coloright, an AI-connected hair color system for salon stylists that uses virtual try-on to project desired shades, and an algorithm that leads to an on-demand, customized hair color with more than 1,500 custom shade possibilities.

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

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
• Country-wise Color Cosmetic market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report:
• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & 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.