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Colour Cosmetics Market

Color Cosmetics Market By Product Type (Chemical, Natural & Organic), Product Category (Nail Products, Facial Makeup, Eye Makeup, Lip Products, Hair Colour Products, Special Effects Products) & Region – Forecast 2021-2031

Color Cosmetics Market By Product Type (Chemical, Natural & Organic), Product Category (Nail Products, Facial Makeup, Eye Makeup, Lip Products, Hair Colour Products, Special Effects Products) & Region – Forecast 2021-2031

Color Cosmetics Market - Analysis, Outlook, Growth, Trends, Forecasts

Color Cosmetics Market Snapshot

[437 Pages Report] Future Market Insights (FMI) projects the color cosmetics market size to expand at 5% CAGR between 2021 and 2031. The demand for color cosmetics is expected to grow by 2% in 2021, reaching a market valuation of nearly US$ 50 Bn.

Growing demand for natural and organic cosmetics products will augment the sales of color cosmetics over the forecast period. On account of this, the market is expected to grow at 4.5% in terms of volume through 2031.

As per the study, color cosmetics market accounted for around 15% - 20% of total sales in the beauty industry in 2020. FMI also forecasts the sales of natural and organic color cosmetics to surge at above 6% CAGR in the coming years, giving tailwinds to the color cosmetics market growth through the assessment period.

Attribute

Details

Estimated Color Cosmetics Market Size in 2021

US$ 50 Bn

2020-2021  Color Cosmetics Market YoY Growth

~2%

Top Color Cosmetics Market Players Share in 2021

30%-35%

Color Cosmetics Market Value CAGR (2021-2031)

~5%

2016-2020 Color Cosmetics Market Outlook in Comparison to 2021-2031 Growth Forecast

FMI projects the global color cosmetics market to expand at a steady 5% CAGR between 2021 and 2031, in comparison to the CAGR of 4% registered between 2016 and 2020.

Rising consumer preference for natural personal care products and the increasing awareness regarding the benefits of organic ingredients are compelling manufacturers to introduce plant based color cosmetics.

Harmful effects of toxic ingredients in synthetic personal care ingredients are tipping scales in favor of organic color cosmetics. Furthermore, extensive use of social media has increased the consciousness among consumers regarding the benefits of organic and natural color cosmetic products, which is expected to aid the overall expansion of the market.

According to FMI, higher awareness regarding the benefits of clean label ingredients and expansion of e-commerce platforms will offer novel opportunities for growth. As clean label color cosmetics carve a niche in the beauty industry, the sales of color cosmetics will improve in response.

Consequently, the demand for color cosmetics is expected to increase at 4.5% CAGR, in terms of volume, during the forecast period.

How are Color Cosmetics Brands Leveraging Social Media?

Some of the leading color cosmetics brands are leveraging social media platforms such as Instagram, Facebook, and Twitter to strengthen their global footprint.

Higher likelihood of making purchase via online shopping platforms post pandemic has compelled color cosmetics producers to rethink their marketing strategies. Hence, key players are spending on digital marketing strategies to enhance their brand presence through these platforms.

Some of the premium color cosmetics brands have joined the bandwagon to promote their products through social media influencers. This has helped them to reach millennial and Gen Z consumers.

Meanwhile, local manufacturers and other economic brands are also collaborating with e-commerce platforms and social media influencers to strengthen their position in the industry. This has also influenced numerous small-scale businesses and home-grown color cosmetic brands to establish their brand presence and generate gain traction through social media platforms.

How will Integration of Advanced Technologies Affect Sales of Color Cosmetics?

Consumers are becoming extremely picky and conscious about the products they choose to apply on their skin. With emergence of online shopping platforms, manufacturers are integrating advanced technologies such as artificial intelligence (AI) to gain the trust of their consumers.

Use of AI in the color cosmetics has enabled consumers to try and experiment with their make-up virtually. With consumers seeking more personalized experience, some of the leading color cosmetics companies are expanding their portfolio to include AI-powered platforms.

For instance, through its novel system called Color&Co, L’Oreal allows potential consumers to participate in a simple three-question survey about their specific hair needs. It also allows them to video chat with hair experts for 10 minutes to create a personalized hair kit.

Besides this, tech giants such as Google is also extending help to beauty aficionados to experiment with new products virtually. In December 2020, it announced collaboration with data partners Perfect Corp and ModiFace to help consumers better visualize thousands of eye shadow and lipstick shades from brands such as MAC, L’Oreal, Charlotte Tilbury, and others.

Country-wise Analysis

What is Driving Sales of Color Cosmetics in the U.S.?

The U.S. is expected to dominate the North America color cosmetics market during the forecast period, opines Future Market Insights. As per the study, North America is expected to register growth at over 2% CAGR between 2021 and 2031.

Increasing awareness regarding the use of organic skin care and make up products has propelled the demand for organic color cosmetics. Growing use of smartphones and penetration of social media has been influencing millennial and gen Z consumers to experiment with a wide range of color cosmetics.

Consumers in the U.S. also are influenced by the presence of premium brands such as Estee Lauder, L’Oréal, Louis Vuitton Moët Hennessy (LVMH), Dior, and others.

Some of these leading color cosmetic brands are collaborating with social media influencers and celebrities to promote their products among international consumers. They are also extensively promoting their organic and natural color cosmetics and facial make up products, targeting vegan consumers.

On account of this, sales of organic and natural color cosmetic products are expected to surge through 2021 and beyond. Vegan and cruelty free color cosmetics are highly sought-after among consumers in the U.S. This is encouraging some of the leading market players to expand their portfolio to include vegan color cosmetics.

For instance, formerly Kat Von D Beauty, the brands name underwent a makeover, changing to KVD Vegan Beauty to complement its dedication to producing high quality vegan cosmetics. The brand has been 100% vegan since 2010 and continues to innovate in the space.

Additionally, integration of artificial intelligence within color cosmetics and facial correction cosmetic products is expected to augment the sales in the U.S.

For instance, in July 2021, Estee Lauder company- Smashbox partnered with Perfect Corp, a global beauty tech provider to become the first ever beauty brand to be paired up with the YouCam Artificial Intelligence (AI)-powered face analyzer technology.

The technology will be combined with Smashbox’s eye color cosmetic products which will help consumers to virtually try-on the products and experiment with make-up effects from the comfort of their home.

Such developments by key players are expected to surge the sales of color cosmetics across the U.S. over the forecast period.

How Will Sales of Color Cosmetics Fare Across India?

Millennials in India are becoming extremely conscious regarding their skin and effects of cosmetics they use. Consumers are increasingly opting for greener products owing to the presence of harsh and toxic chemicals present in synthetic color cosmetics.

Increasing penetration of online shopping applications such as Nykaa, Amazon, and others have increased the sales of color cosmetics in India. Also, ability of consumers to compare the products through various distribution channel have aided the growth in the market.

Key manufacturers are also eyeing the India market as consciousness among millennials and Gen-Z’s regarding their skin care routine and use of color cosmetics has surged. Hence, even the premium brands such as Dior, Givenchy, Este Lauder, and other have established their brand presence in the country.

How is Color Cosmetics Market in China Recuperating from the Loss Suffered amid Pandemic?

Color cosmetics market in China was impacted heavily due to the unprecedented outbreak of COVID-19. As the country entered lockdown in 2020, use of color cosmetics decreased in the seclusion of home.

However, color cosmetic market players extensively used digital marketing strategies and social media promotions to keep their brand afloat amid pandemic. These brands collaborated with e-commerce platforms and online shopping applications to sustain their position in China.

Also, local brands leveraged the global lockdown to establish their presence and gain competitive edge in the industry. Coupled with this, the demand for natural and organic ingredients in facial make up and eye makeup products compelled the manufacturers to launch organic color cosmetic face and eye products.

For instance, premium brand Procter & Gamble recently announced their shift towards plant-based ingredients and packaging in color cosmetic products. Hence, on account of such a slew of development, color cosmetics market is expected to have a great potential across China through 2021 & beyond.

Category-wise Insights

What is Driving Sales of Organic and Natural Cosmetics?

In terms of product, natural and organic color cosmetics segment is expected to register highest growth during the forecast period. In terms of value, natural & organic segment is poised to expand at 6.2% CAGR over the forecast period.

Growing awareness regarding the benefits of organic and natural cosmetic product has increased the sales of color cosmetic products in this category. Rising demand for vegan color cosmetics among millennials has increased the adoption of organic make up products, especially facial make-up products.

Also, governments across several countries have imposed stringent curbs on the use of certain chemicals. As per Canadian Cosmetics Regulations, use of chemicals such as formaldehyde, triclosan, selenium, and other 13 chemicals are restricted from use in cosmetics. Harsh effects of chemicals on skin have compelled consumes to use organic & natural color cosmetic products.

Consumer inclination to buy clean label personal care products has compelled manufacturers to increase the production of natural & organic color cosmetic products. Awareness among consumers regarding the use of animal protein or experiment on animals has created a highly lucrative market for vegan and cruelty-free color cosmetics.

What is Driving Color Cosmetics Sales via e-Commerce Platforms?

High dependence on social media has created lucrative opportunities for the market players to gain profit. Increasing penetration of e-commerce platforms such as Amazon, eBay, Nykaa, and others have improved the sales of color cosmetics.

With the outbreak of the novel COVID-19, reliance on online purchase have increased among consumers. Local and premium brands are extensively using social media platforms to influence consumers and promote their products.

As per Future Market Insights, sales of color cosmetics through e-commerce will increase at 5.7% CAGR by the end of 2026. Advancements in technology and use of smartphones have influenced consumers to purchase products through online sales channel.

E-commerce giants such as Amazon, eBay, Nykaa, and others are launching their own color cosmetic products to expand their customer base. Moreover, consumers’ preference and trust towards online payment and convenience of door-step delivery have increased the sales of color cosmetics through e-commerce and online stores.

Why are the Premium Range Color Cosmetics Highly Sought-After?

Based on price, premium-priced color cosmetics are expected to gain traction throughout the forecast period. As per FMI, the premium range color cosmetic segment held over 60% of global revenue between 2016 and 2020.

Demand for premium color cosmetic products is expected to increase throughout the forecast period owing to the growing preference for luxury cosmetic products. To hide the aging lines, dark circles, and for improved facial structure, demand for premium products have increased.

Consumers are opting for premium products owing to the brand value and authenticity of the product. Also, penetration of social media has created conducive environment for premium products due to the increased digital media marketing that brands use for their promotion.

On the back of this, sales of premium color cosmetics products are expected to increase over the forecast period. 

How will High Demand for Facial Makeup Spur the Sales of Color Cosmetics?

In terms of product category, facial makeup segment is expected to rank relatively high as compared to nail and lip products. As per Future Market Insights, the facial makeup segment is expected to account for 33.4% of global market share through 2021.

Growing awareness regarding beauty trends and improving lifestyle has increased the demand for facial products, especially among women. Also, increasing penetration of social media such as Instagram, Facebook, and others have surged the need to beautify the face more than any other body part.

On account of this, demand for facial products including face powder, moisturizer, face cream, and others. Further, rising trend of beautifying face to hide fine lines, wrinkles, and dark circles have increased the demand for facial makeup cosmetic products.

Competitive Landscape

Leading players operating in color cosmetics market are introducing new products to expand their product portfolio. They are also adopting expansion strategies such as mergers, collaborations, and acquisitions to strengthen their global presence.

Meanwhile, some of the players are collaborating with e-Commerce giants such as Amazon, eBay, and others  to gain competitive edge. They are also relying on digital marketing strategies and social media platforms to attract consumers and establish their digital presence.

As per Future Market Insights, top players are expected to hold around 30% - 35% of market share in 2021.

  • In July 2021, Bloomers announced the launch of a new brand of color cosmetics in India. They are offering wide range of products such as foundations and lipsticks which will be available in local marts and pharmacy stores also.
  • In April 2021, leading biotech company, Amyris, announced the acquisition of Beauty Labs International, adding 7th clean color cosmetics brand to its portfolio.
  • Australian manufacturer G&M also is gearing to expand their portfolio of vegan beauty and baby care products. The company shifted to the vegan beauty space following the acquisition of PURE Papayacare skincare in 2019.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value and ‘000 Units for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Product Type, Distribution Channel, Price, Product Category, and Region

Key Companies Profiled

  • L’Oréal SA
  • LVMH (Moët Hennessy -Louis Vuitton)
  • Estee Lauder Companies Inc.
  • Revlon Inc.
  • Shiseido Co. Ltd.
  • Chanel S.A.
  • Coty Inc.
  • Mary Kay Cosmetics
  • Amway Corporation
  • Kose Corporation
  • Others

Pricing

Available upon Request

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Color Cosmetics Market by Category

Product Type:

  • Chemical
  • Natural & Organic

Distribution Channel:

  • Hypermarket/ Supermarket
  • Convenience Store
  • Specialty Store
  • Direct Selling
  • e-Commerce

Price:

  • Economic
  • Premium

Product Category:

  • Nail Products
  • Facial Makeup
  • Eye Makeup
  • Lip Products
  • Hair Colour Products
  • Special Effects Products

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Middle East & Africa
  • Japan

Key Questions Answered in the Report

What is the current value of the global color cosmetics market?

The global color cosmetics market is expected to reach a valuation of US$ 50 Bn in 2021.
The global color cosmetics market grew at 4% CAGR between 2016 and 2020.
Growing demand for eco-friendly and organic cosmetic products and emergence of online distribution channel is expected to augment the sales of color cosmetics.
Top players in the global color cosmetics market are expected to hold around 30%-35% of the total market share.
The U.S., India, Germany, and China are the top countries driving demand for color cosmetics.
Sales of color cosmetics across North America are projected to rise at 2% during the forecast period.
In 2021, South Korea and Japan are expected to hold around 20% and 30% of global market share, respectively.

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