Pune,India, July 13, 2023 (GLOBE NEWSWIRE) — The global color cosmetics market size was valued at USD 72.74 billion in 2022 and is projected to expand from USD 77.73 billion in 2023 to USD 114.65 billion by 2030, exhibiting a CAGR of 5.7% over the estimated period.
The growth is being driven by the surging trend for personal grooming and high-end lifestyle. Fortune Business Insights™ provides this information in its research report, titled “Color Cosmetics Market, 2023-2030”.
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List of Key Players Mentioned in the Color Cosmetics Market Report:
- L’Oréal S.A (France)
- Unilever (U.K.)
- Avon Products Inc. (U.K.)
- Estée Lauder Inc (U.S.)
- Shiseido Company, Limited (Japan)
- Revlon, Inc. (U.S.)
- Coty Inc. (U.S.)
- Amway (U.S.)
- KRYOLAN (Germany)
- CIATÉ (U.K.)
- CHANEL (France)
Report Scope & Segmentation:
|2030 Value Projection||USD 114.65 billion|
|Market Size in 2022||USD 72.74 billion|
|No. of Pages||243|
|Report Coverage||Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends|
|Color Cosmetics Market Growth Drivers||Asia Pacific to Lead Impelled by Growing Skin Care Products Demand|
|Industry Share to Surge Due to Rising Inclination Toward Organic Cosmetic Products|
Browse Detailed Summary of Research Report with TOC:
Prestige Products Segment to Record Notable Surge Owing to Rising Luxurious Goods Demand
On the basis of target market, the market for color cosmetics is segmented into mass products and prestige products. The prestige products segment accounted for a dominating share in the market and is expected to depict substantial growth throughout the forecast period. The expansion is due to the rising awareness among consumers regarding the usage of quality products on the face and body.
Offline Segment to Gain Traction Impelled by Soaring E-Commerce Sector
By distribution, the market is segregated into online and offline. The offline segment is estimated to surge at a considerable pace over the estimated period. The rise is driven by the growing consumer preference for purchase through the demo of the product.
Face Products Segment to Depict Appreciable Upsurge Impelled by Surging Consumer Awareness Regarding Beauty Trends
Based on application, the market is fragmented into hair products, nail products, lip products, face products, and others. The face products segment is expected to register considerable expansion throughout the forecast period. The surge is due to the growing trend for face beautification.
Based on geography, the market for color cosmetics has been analyzed across Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Industry Share Affected on Account of Growing Disruptions in Import/Export of Cosmetic Products
The COVID-19 pandemic severely affected export and import activities, hampering the supply of raw materials for the cosmetic sector. The demand for makeup products was also restrained due to reduced social life, remote work, and the trend of natural makeup. However, the period recorded an increase in product sales via the online channel of distribution.
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The report gives a coverage of the major factors boosting the global industry landscape over the estimated period. It further provides an in-depth analysis of the key trends propelling industry expansion over the coming years. The report also includes an overview of the vital steps undertaken by leading industry players for strengthening their market positions.
Drivers and Restraints:
Industry Share to Surge Due to Rising Inclination Toward Organic Cosmetic Products
One of the key factors propelling the color cosmetics market growth is the rising consumer inclination toward the purchase of organic cosmetic products. Additional factor favoring industry expansion is the soaring importance of using chemical-free cosmetic products and surging disposable income in emerging and developing markets.
However, the industry expansion could be restrained by the growing awareness regarding the protection and preservation of the environment.
Asia Pacific to Lead Impelled by Growing Skin Care Products Demand
The Asia Pacific color cosmetics market share is expected to register substantial growth over the estimated period. The expansion is driven by the escalating demand for skin care products from countries such as India, Japan, and China.
The North America market is poised to depict appreciable growth throughout the study period. The escalation is driven by the high disposable income and rapid technological advancement.
Leading Companies Enter into Collaborations to Expand Product Reach
Major players are focused on the adoption of a range of strategic initiatives for strengthening their industry positions. Some of these steps include acquisitions, collaborations, and merger agreements. Additional initiatives comprise an increase in R&D activities and the rollout of new products.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Regions
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Color Cosmetics Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Color Cosmetics Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- By Target Market (Value)
- Prestige Products
- Mass Products
- By Distribution (Value)
- By Application (Value)
- Nail Products
- Hair Products
- Lip Products
- Face Products
- By Region (Value)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Industry Development:
March 2021 – Shiseido Company unveiled BAUM, a new skincare brand with a total of 45 items and 27 products. The brand was launched in a bid to realize a sustainable society. The company has been working toward solving social issues and decrease environmental burden.
Read Related Insights:
Cosmetics Industry to Worth USD 415.29 Billion by 2028 | With a 5% CAGR
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