Colour cosmetics are the personal care products used for enhancing the appearance of the human body. Colour cosmetics refer to the Colorants and cosmetic ingredients used for make-up, skin care, fragrance, oral care, hair care and personal hygiene.The Colour cosmetics market is anticipated to show gradual upsurge in the near future mainly due to the factors such as growing customer loyalty, innovations in colour cosmetic products, and rising demand for organic cosmetic products. The colour cosmetics market is booming across the developed and developing regions owing mainly to the increasing interest of consumers in exploring new advanced products and the introduction of more pleasing formulas and beauty products by manufacturers.
Global Colour Cosmetics Market Segmentation:
On the basis of application, colour cosmetics market can be segmented into:
- Eye Make-Up - Eye Liner/Pencil, Eye Shadow, Mascara and Other Eye Make-Up
- Facial Make-Up - Blusher/Bronzer/Highlighter, Foundation/Concealer, Powder
- Lip Products - Lip Gloss, Lip Liner/Pencil, Lipstick and Other Lip Products
- Nail Products - Nail Polish, Nail Treatments/Strengthener, Polish Remover and Other Nail Products
Special effects and special purpose products like advanced nail varnishes and blemish balm (BB) creams, are also expected to witness a healthy growth during the forecast period.
Global market of colour cosmetics is sub-segmented into seven key regions- North America, Latin America, East Europe, West Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.
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Presently, the colour cosmetics market is mainly concentrated in the North American and European region mainly due to innovations in colour cosmetics, high consumer disposable income and new product launches (e.g. advanced nail varnishes and BB creams) in colour cosmetic market in these regions. In terms of revenue share contribution, the United States is the biggest cosmetic market in the world. In Europe, UK dominates over the major market share mainly due to the continuous upsurge in the demand for prestige colour cosmetics.
Asia Pacific region, especially China and India, is expected to show highest growth rate in this segment in the coming years due to the increasing disposable incomes and rising awareness about personal care products in the region. In turn the region is also expected to experience a shift from traditional products towards products with vast varieties offered by international players.
The increasing consciousness towards colour cosmetics, especially in India, can be owed to the effective advertising and marketing of these products chasing the increased spending power from the growing number of women in the working class of the country.
Colour Cosmetics Market Dynamics:
The global colour cosmetics market is expected to grow at a healthy CAGR during the forecast period due the factors such as continuous rise in consumer constancy for colour cosmetics, rise in demand for colour cosmetics to control age-related skin imperfections, innovations in product formulations and increasing demand for organic products in this segment.
Additionally, attractive packaging and growing fashion trends along with the increasing consumer health awareness about the personal care are expected to drive the global market for colour cosmetics.
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The growth of the market is hampered to a certain extent by the factors like economic downturns, high cost of quality chemicals, strict government regulations and high price related to packaging etc.
Prestige products and mass products are the prime opportunity market for colour cosmetics market. Although the mass products are expected to witness a higher CAGR than prestige products during the forecast period but the demand for prestige products is also expected to experience steady upsurge due to rising customer loyalty.
Colour Cosmetics Market: Key Players
Major players in the global colour cosmetics market are The L'Oréal Group, Avon Products Inc., Procter and Gamble Co., Estée Lauder Inc., Clarins Group, Alliance Boots GmbH Inc., Benefit Cosmetics LLC, Chanel S.A, Chantecaille, Ciaté, Revlon Group, Coty SAS, Lvmh (Louis Vuitton Moet Hennessy), Johnson & Johnson Private Limited, Lush Cosmetics, Maesa Group, Unilever Inc. and Nails Inc.
Expansions, new product launches, and mergers and collaborations are the key strategies adopted by most companies in the global colour cosmetics market.
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