Color Cosmetics Market Size, Share & Trends Analysis Report By Product (Lip Products, Facial Products, Eye Products), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2030

Color Cosmetics Market Size, Share & Trends Analysis Report By Product (Lip Products, Facial Products, Eye Products), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2030

Color Cosmetics Market Growth & Trends

The global color cosmetics market size is expected to reach USD 111.07 billion by 2030, expanding at a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing consciousness about physical appearance, along with rising purchasing power in the developing countries such as India, China, and Brazil, is driving the market for the products.

Furthermore, rapid adoption of the western lifestyle has increased the consumer spending on personal care products. Furthermore, rising women participation in the global workforce has boosted the demand across the world. This women workforce is expected to raise the demand for beauty products in the near future as it represents the main consumer category of the industry.

Facial products dominated the market, accounting for over 25.0% share of the total revenue in 2018. Popular facial products include facial foundation, powder, concealer, and bronzer. Growing penetration of social medial and online makeup tutorials has been propelling the demand of the facial products over the world. Over the past few years, waterproof and sweat proof makeups have gained significant popularity among the women, especially during summer.

Asia Pacific is expected to be the fastest growing regional market. Increasing per capita income in countries such as China, India, Indonesia, and Brazil has provided consumers the space to spend more on premium personal care products. Rapid urbanization in these nations has helped in expanding the consumer base of the industry. China makes a considerable contribution to the growth as Chinese travelers has fueled the sales of the color cosmetics significantly. They accounted for 45% of sales of the travel retails in the world. L'Oréal has partnered with the local start-ups of Japan, China, and India to strengthen its presence in these lucrative markets.

Some of the key players are L'Oréal S.A.; Estée Lauder Companies Inc.; Unilever; Shiseido Company, Limited; Avon Products, Inc.; Revlon Inc.; Coty Inc.; Ciaté London; CHANTECAILLE BEAUTÉ; and Kryolan. Major companies are also considering the digital medium as an important tool for marketing. On an average, L’Oréal annually spends around 30% of marketing budget on the digital advertising. The company has started a digital campaign - Beauty Squad, through which it sells articles and videos with the help of the social influencers.

Color Cosmetics Market Report Highlights

• The facial product segment dominated the market with a revenue share of 29.2% in 2023.This dominance can be attributed to increasing consumer awareness about skin health.
• The nail product segment is expected to grow at the highest CAGR of 8.5% from 2024 to 2030.
• Offline distribution channels accounted for the largest revenue share in 2023. Offline distribution channels consist of a variety of retail stores, hypermarkets, and specialty stores, which are favorable for consumers as they get to judge the products physically and can get extra information and services on the stores and outlets where they have been purchasing the product.
• The online distribution channel segment is projected to grow at a significant pace in the coming years. The increase in the use of smartphones and high-speed internet has improved connectivity between consumers and products.
• Asia Pacific dominated the market with a revenue share of 33.4% in 2023. Robust growth characterizes the color cosmetics market in the Asia Pacific region, driven by several factors including rising disposable income, evolving beauty standards, and a burgeoning youth population.

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