According to Fact.MR, the opportunities in the color cosmetics market is expected to cross worth of US$80 billion by the end 2022. The demand for color cosmetics will rise at a promising pace over the forecast period of 2017–2022, projects the report.
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The growth color cosmetics industry increasingly rides on the back of favorable changes in lifestyles of populations, world over. Over the past few years, the adoption of new trends in the overall cosmetics industry has been punctuated by changes in various aspects of beauty and fashion. New products in the color cosmetics market with tall claims and large purported benefits, especially relating to skin care and aging. The color cosmetics market has started evolving since the beginning of this decade and progressed to new heights along the trajectories as new macro-trends emerged. The large strides taken by the entertainment industry further brought color cosmetics to the fore for worldwide consumers, majorly women, looking to benefit from this wave of beauty brands. These strides have been punctuated by several beauty trends in social media platforms.
In recent years, consumers across demographics have been supporting the demand for color cosmetics based on natural and organic ingredients. Focusing on product origin and quality of the products seem to be key winning imperatives for a growing number of producers and manufacturers of color cosmetics. These are the aspects that provide avenues for innovations in color cosmetics. The trend is supported by the drive for environmentally-friendly production processes that have low carbon-footprint among end consumers. The demand for products brands whose products have ingredients with questionable quality has been drawing flak in recent years. One key aspect that has substantially altered dynamics of color cosmetics market is discouraging the use of animal testing in cosmetics testing and the awareness about this among global consumers has increased significantly in recent years.
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Color cosmetics consist of a wide array of cosmetic products used to affect the various beauty aspects and the appearance of users through changes in hues and gloss. These cosmetics are popularly applied on lips, eyes, face, and hair. The compounds present in several of the color cosmetics may also confer noticeable skincare benefits. They are also functional in concealing flaws, make some features distinctive, enhance overall physical appearance, and make one appear refreshed.
The report on the color cosmetics markets sheds light on several pertinent aspects that include:
- Will the rising popularity of lip care products eclipse the rising demand for nail products as color cosmetics?
- To what extent will Asia Pacific contribute to the rapid growth of the overall color cosmetics market?
- Will hypermarkets will lose sheen as a preferred sales channel for color cosmetics in the coming years?
- Does e-commerce channel hold disruptive potential for distributors of color cosmetics?
The study on the cosmetics market tracks the intensity of the competition in the overall market and the strategies adopted by new entrants to gain a foothold in the market. It also evaluates key tactical and strategic developments entered by emerging and established players such as related to mergers and acquisitions, mergers, and collaborations. Prominent players operating in the color cosmetics market are Procter & Gamble, Chantecaille Beaute Inc., Revlon, Inc., Limited, Coty, Inc., Shiseido Company, the Estée Lauder Companies Inc., Avon Products, Inc., Unilever N.V., LVMH Moët Hennessy Louis Vuitton S.E., and L'Oréal S.A.
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