Global Cosmetic Dyes Market - 2023-2030

Global Cosmetic Dyes Market - 2023-2030

Market Overview

The global cosmetic dyes market reached US$ XX million in 2022 and is projected to record significant growth by reaching up to US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).

Cosmetic dyes are color additives that impart color to various cosmetic products, such as hair care, eye makeup, nail paint and facial cosmetics. Cosmetic dyes are frequently used in skin, hair and makeup products. The global market for cosmetic dyes is driven by the high demand for personal care and cosmetic applications and consumers' attention to healthy lifestyles.

Market Dynamics

The cosmetics industry is being driven by a rise in women's workforce and consumers' rising purchasing power, which in turn is boosting the market's need for cosmetic dyes. Consumer's inclination towards the western lifestyle has boosted the demand for skincare, makeup and other personal care products, influencing the growth of cosmetic dyes. Thus this factor will bolster the demand for the cosmetic dyes market. The demand for cosmetic items, including skincare, haircare and others, is growing enormously due to rising living standards and changing lifestyles, helping enhance global cosmetics production. Cosmetic companies always look for dye colors to help them create long-lasting products. Waterproof eyeliners with a longer shelf life will outsell regular color eyeliners in the market. Females prefer lip colors in revolting color combinations; providing these shades with moisturizing properties and presenting them in convenient packaging makes them more appealing.

Plant-Derived Colorants' Antioxidant Activity for Potential Cosmetic Use

Natural dyes have increased due to synthetic dyes' toxic and carcinogenic effects. The pigments formed by microorganisms and the phytochemicals produced by plants are sources of natural dyes. The FDA has approved some natural sources of dyes, from annatto seeds, beta carotene, etc., for cosmetics and identified them as a color index. Because of their color and antioxidant properties, anthocyanins are used as pH indicators and colorants in cosmetics. Chlorophyll and lycopene both have vibrant colors that can be used in cosmetics. Another excellent and inexpensive source of natural dyes is microbial colorants. Prodigiosin and other microbial pigments give bright red color. This prodigiosin is used in the production of soaps and cosmetics.

Natural dyes are procured from eco-friendly sources without the use of chemicals and because of their eco-friendliness, they have a wide range of uses in the cosmetics industry, particularly in hair dyeing. Different herbs and plants have been used as approved coloring agents in the cosmetics and fashion industries because they have varying color intensities. Different techniques for extracting natural dyes and their uses have been reported depending on their chemistry. The fact that natural dyes are non-toxic, safe, healthy, environmentally friendly and cost-effective is one of their most significant benefits. They, therefore, see a lot of potential for use in the cosmetics industry. Increased regulations on specific color additives that are harmful to the skin and can cause certain health problems are expected to constrain the market. For instance, U.S. Food and Drug Administration (FDA) agency oversees the regulation of lead acetate and coal-tar-based hair colors.

Growing demand for antiaging and wrinkle treatments needs to escalate the demand for cosmetic dyes

The global market for dyes is expected to develop due to the rising demand for cosmetics and other personal care goods. Due to globalization and the entry of numerous new companies into Asia-Pacific, the beauty industry in that region is expanding quickly, which also fuels the market for dyes. Increasing consumer awareness of the quality of facial cosmetic products, like wrinkle treatments and luxury lotions, among young and older people is supplementing the demand for cosmetic dyes.

As per Loreal Annual Report 2021, the global cosmetic market grew more than 8% in 2021, estimated to be more than Us$ 222.9 Bn, in which the North Asia region accounts for more than 35% of market shares. Skincare is the largest segment, holding nearly 42% of the market shares in the global cosmetic market, followed by haircare. Skincare is the largest business segment in the global cosmetic market, followed by haircare owing to the increasing use of facial skincare, body care, sun protection and facial cleanser products.

COVID-19 Impact Analysis

Due to the COVID-19 pandemic's breakout, the global economy has slumped since the beginning of 2020. It has been observed that the COVID-19 outbreak has severely impacted the production and sales of cosmetic dyes. The governments of various nations have implemented strict lockdowns to stop the COVID-19 epidemic from spreading. The market for cosmetic dyes has witnessed a small advantage from COVID-19 due to the global closure and the lockdown imposed by governments in some countries. Numerous enterprises were impacted due to the restrictions in all economies. During the pandemic, consumers, preferences for personal hygiene and self-care has been changed rapidly, which has propelled the demand for skin care products (bath & shower products), nail care products and toiletries. The personal care and cosmetics businesses have grown and developed due to the abovementioned factors.

Additionally, the ongoing demand for personal care and beauty products, as well as E-commerce services, has contributed to the continued demand for cosmetic dyes throughout the epidemic. COVID-19 played a crucial role in consumers' hygiene and cleanliness. After the ease of lockdown, the demand for personal hygiene products has grown at a decent pace, which will continue to generate the demand for cosmetic dyes in the cosmetic industry.

Segment Analysis

The global cosmetic dyes market is segmented based on type, application and region.

The consumer's trend for change in hair color propel the demand for the global cosmetic dyes market

The market for cosmetic dyes is expected to increase throughout the projected period due to a rise in the trend for hair color, whether permanent or temporary. Manufacturers' primary focus is on developing demi-permanent hair colors without an ammonia composition, though cosmetic dyes market is anticipated to grow. Cosmetic dyes are also anticipated research activities in demi-permanent, hair color without an ammonia composition is the prime focus of manufacturers, which is more human and environment friendly. The availability of synthetic dyes at lower costs will also support the growth of the cosmetic dyes market.

Rising artistic makeup adoption and product formulation innovations will positively impact hair color. Adopting artistic makeup is one of the major changes the cosmetic dyes market will witness in the years ahead. Hair and makeup styling is a prominent industry where people look for new styles. Because makeup artists and hairstylists strive for more audacious, unusual appearances, ephemeral, unusual hair colors are in high demand. Key manufacturers are looking to launch unique and exotic temporary hair colors to increase their revenue from temporary hair colors. Hair color demand will rise due to numerous new hairstyles and hair color manufacturers will have to keep up.

Geographical Analysis

Growing investments of cosmetics companies in Asia-Pacific to create growth opportunities for cosmetic dyes in the region

As the global disposable income grows globally, the cosmetic sector also experiences enormous growth, providing growing attention to personal care routines. Asia-Pacific is the hub for all kinds of cheap labor and raw material. As a result, Asia-Pacific cosmetic dyes market and manufacturing industry are growing enormously. The experienced growth of the Asian-Pacific cosmetic product market increases its manufacturing in the region. The factor mentioned above helps Asia-pacific to dominate the regional segment of the global cosmetic dyes market.

India is the largest producer of pigments and dyes in Asia-Pacific and Indian dyes are more inexpensive than neighboring countries. Asian nations such as India and China are the top suppliers of dyes. Indian pigment producers are preferred over those from western countries by cosmetic manufacturing companies because they offer low manufacturing costs. Furthermore, raising the investment of start-up companies such as Aakash Chemicals and Dyestuffs, ArlexChemi Pvt. Ltd., etc., in this region will create growth prospects in the future.

Competitive Landscape

To survive in a competitive market, Cosmetic manufacturers ensure that their innovative color cosmetics are safe and adhere to regulations. Therefore, cosmetic color manufacturers provide product and application development services through specialized laboratories.

The cosmetic dyes key players operating in the product market are Sensient Cosmetic Technologies, ArlexChemi Pvt. Ltd., Spectra Colors Corporation, DyStar Singapore Pte Ltd, Neelikon, Pylam Products Company, Inc. organic Dyes & Pigments LLC (ORCO), Aakash Chemicals and Dyestuffs, Goldmann Group and Chromatech Incorporated. To gain a competitive advantage in the product market, leading manufacturers focus on various strategies such as mergers, acquisitions, new product launches and existing product development.

Neelikon

Overview: Neelikon is a leading producer and exporter of superior-grade colorants on a global scale. Its colorants serve a variety of global verticals, whether it be 'One World, One Quality' products, FDA-approved food colors, pharmaceutical colors, personal care and cosmetic colors or fluorescent dyes. Every one of its products, including the specialized fluorescent dyes for specialized industrial applications, is a trailblazer for setting new international colorant standards. The company has overseas offices in UK, Netherlands and China. The company serves several industries, such as food, pharmaceuticals, cosmetics, personal care, home care and stationery inks.

Product Portfolio
• Cosmetic Dyes: A wide variety of cosmetic dyes and pigments are available under the brand Lavanya for use in decorative cosmetics.

Key Development:
• On September 28, 2021, Neelikon, one of the world's top three producers of food colors, cosmetic pigments and fluorescent dyes, introduced a first-of-its-kind product called ""One World One Quality"" to provide a variety of high purity. These low-impurity colors will comply with various national regulations. These include JECFA, Europe, Japan, China, India and U.S.

Why Purchase the Report?
• To visualize the global cosmetic dyes market segmentation based on type, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the global cosmetic dyes market by analyzing trends and co-development.
• Excel data sheet with numerous data points of cosmetic dyes market-level with four segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players

The global cosmetic dyes market report would provide approximately 54 tables and 49 figures and 210 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies