The global Color Cosmetics Market is estimated to be valued at US$ 77.17 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Color cosmetics products provide color, texture, and protection to enhance one’s natural appearance. They include products like foundation, lipstick, eye shadow, blush and others. The wide range of shades and finishes allow customers to experiment and find products that suit their needs and style preferences. The natural-looking results and multifunctional offerings are driving their demand.
Market key trends:
One of the key trends in the color cosmetics market is the rise of natural and clean makeup products. Consumers are increasingly preferring formulations containing organic, natural and vegan ingredients that are less likely to cause irritation, breakouts or long-term side effects. This has prompted brands to launch natural makeup lines free from toxic chemicals, dyes and preservatives. For instance, Revlon joined the clean beauty movement by launching a range of Lip Butters made from plant-based oils and nutrients. Some brands also focus on sustainability by using recycled or eco-friendly packaging materials. The growing health and environmental consciousness is positively influencing the demand for natural color cosmetics.
Segment Analysis
The global color cosmetics market is segmented into facial makeup, lip products, eye makeup, nail products and others. The facial makeup segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is due to the high demand for foundations, concealers, powders and other facial makeup products. These products help improve skin complexion, hide skin imperfections and prolong the makeup wear. The growing popularity of customizable base makeups suited for all skin tones has further driven the growth of facial makeup segment.
Key Takeaways
The global Color Cosmetics Market Size is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing spending on personal grooming and rising fashion consciousness among individuals.
Regionally, Asia Pacific is expected to dominate the color cosmetics market during the forecast period. This is attributed to rising incomes, growing working women population and increasing interest in cosmetic products in emerging economies like India and China.
The global color cosmetics market size is expected to reach US$ 77.17 Bn in 2023. Key players operating in the color cosmetics market are Beiersdorf, Krylon, Estee Lauder Companies Inc., Amway, Avon Products Inc., CHANEL, Coty Inc, Johnson & Johnson, KRYOLAN, L’oreal S.A, Revlon, Inc., Shiseido Company, Limited and Unilever. These players are focusing on new product launches, emphasizing organic and naturally derived ingredients to cater to changing consumer preferences.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it