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The Global color cosmetics market was valued at USD 93.22 Billion, which is expected to cross USD 130.11 Billion by the end of the forecast period. The market is anticipated to grow at 5.38% CAGR by 2023–28. – Actual Market Research
Apr, 30
2023

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The Global color cosmetics market was valued at USD 93.22 Billion, which is expected to cross USD 130.11 Billion by the end of the forecast period. The market is anticipated to grow at 5.38% CAGR by 2023–28. – Actual Market Research

 

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The global colour cosmetic market refers to the market for makeup products that are used to enhance or change the appearance of the face, eyes, nails, and hair. There has been a significant shift towards clean and ethical beauty products, with consumers increasingly seeking out products that are free from harsh chemicals and are sustainably sourced. This has led to the development of new and innovative product formulations that cater to these preferences. In addition, there has been an increase in product customization and personalization, with brands offering a wider range of shades and finishes to suit different skin tones and preferences. Moreover, the increasing popularity of vegan and cruelty-free makeup products as consumers become more aware of the ethical and environmental implications of their purchasing decisions many brands are responding to this trend by developing products that are free from animal-derived ingredients and are not tested on animals. In addition, sustainability is becoming a more important consideration for consumers when it comes to beauty products. Brands are responding by using more sustainable and eco-friendly materials in their packaging and by developing products that are designed to minimize environmental impact. Furthermore, consumer education is an important factor in the market, with many consumers seeking out information about the ingredients and formulations used in the products they use. Brands that are able to provide transparent and comprehensive information about their products are likely to build greater trust and loyalty among consumers.

According to the research report, "Global Color Cosmetic Market Research Report, 2023–28," published by Actual Market Research, the market was valued at USD 93.22 Billion, which is expected to cross USD 130.11 Billion by the end of the forecast period. The market is anticipated to grow at 5.38% CAGR by 2023–28. Augmented reality (AR) and virtual reality (VR) technologies are becoming increasingly popular in the cosmetic industry, with many brands using these technologies to enhance the consumer experience. AR and VR can allow consumers to virtually try on makeup products, experiment with different shades and styles, and get personalized recommendations based on their individual skin tone and preferences. Furthermore, 3D printing is another technology that is being used in the cosmetic industry to create customized products and packaging. Some brands are using 3D printing to create custom lipstick shades or to print personalized packaging designs, while others are using the technology to create moulds for injection-moulded packaging. Moreover, biotechnology is another area of focus in the colour cosmetic industry, with some brands using biologically derived ingredients and technologies to create products that offer enhanced skin benefits. For instance, some companies are using biotechnology to create new plant-based ingredients that offer anti-ageing and other benefits, while others are exploring the use of stem cells and other biologically-derived materials in their formulations. In addition, smart packaging is another area of focus in the colour cosmetic industry, with brands developing packaging that incorporates sensors and other technologies to provide consumers with real-time information about the products they are using.

Governments have established regulations to ensure the safety and quality of cosmetic products, including The United States Food and Drug Administration (FDA) regulates cosmetic products in the US. Under the Federal Food, Drug, and Cosmetic Act, cosmetics must be safe for use and properly labelled. The FDA also requires that cosmetic ingredients be listed on product labels and prohibits the use of certain ingredients in cosmetics. Furthermore, the European Union (EU) regulates cosmetics through the European Commission, which sets standards for product safety, labelling, and marketing. The EU has banned the use of certain chemicals in cosmetics, including some that have been linked to cancer and other health risks. Moreover, in India, the Central Drug Standard Control Organization (CDSCO) regulates cosmetic products. The CDSCO requires that cosmetic products meet certain safety and labelling standards and prohibits the use of certain ingredients in cosmetics. In addition, in Brazil, the National Health Surveillance Agency (ANVISA) regulates cosmetic products. ANVISA requires that cosmetic products meet certain safety and labelling standards and sets limits on the use of certain ingredients in cosmetics. Furthermore, in the Middle East, countries such as Saudi Arabia, the United Arab Emirates (UAE), and Qatar have their own regulations for cosmetics. In the UAE, for instance, the Emirates Authority for Standardization and Metrology (ESMA) sets safety standards for cosmetic products and requires that all cosmetics be registered with the authority before they can be sold in the country.

According to the report, Based on product type, the market is divided into facial colour products, nail colour products, hair colour products, lip products, and eye makeup products. Among them, facial colour products will have the highest market share in 2022. The rising consumer awareness about the harmful effects of synthetic ingredients Consumers are increasingly concerned about the potential health risks associated with synthetic ingredients, such as parabens and phthalates, and are seeking out products that are free from these chemicals. This has led to an increase in demand for natural and organic facial makeup products, which are perceived as safer and healthier alternatives. However, based on face makeup, the market is divided into foundation, loose face powder, concealers, blush, and other facial products. Many consumers are looking for foundations that offer more than just coverage, and brands are responding by incorporating skincare benefits into their formulations. Foundations that contain ingredients like hyaluronic acid, vitamin C, and SPF are becoming increasingly popular as they offer additional benefits such as hydration, brightening, and sun protection. On the other hand, lip products had the highest CAGR during the forecast period. Consumers are looking for lip products that are long-lasting and can withstand daily wear and tear. Brands are responding by developing formulas that are transfer-proof and have longer wear times. Furthermore, based on lip makeup, Lip gloss, lip liners or pencils, lip sticks, and other lip products (lip primer, lip plumber). Matte lipstick finishes have been popular for several years and are expected to continue to be a trend in the coming years. Brands are developing new matte formulas that offer a comfortable, non-drying feel on the lips, using ingredients such as hydrating oils and waxes to provide moisture and prevent flaking. For instance, some brands are using technology to offer customizable lipstick shades, allowing customers to create their own unique colours by mixing different pigments and finishes. This trend is driven by the desire for personalized beauty products and the growing popularity of DIY beauty. However, Consumers are becoming more conscious of the ingredients in their hair color products and are increasingly seeking out natural and organic options. Brands are responding by using ingredients such as plant-based dyes and extracts, and avoiding harsh chemicals like ammonia and parabens.

The market is divided into Eye Liners/Pencils, Eye Shadow, False Eyelashes, and Other Eye Makeup Products (False Eyelashes, Eye Primer). Eye liners and pencils are used to define and enhance the eyes. They come in a variety of formulations, including pencil, liquid, and gel, and are available in a range of colours. The trend in this segment is towards long-lasting and waterproof formulas that are smudge-proof and can withstand daily wear. Brands are also incorporating nourishing ingredients like Vitamin E and coconut oil to provide hydration and nourishment to the delicate eye area. Furthermore, false eyelashes are used to add volume and length to natural lashes. They come in a variety of styles, from natural to dramatic, and can be made from synthetic or natural materials like mink or silk. The trend in this segment is towards more natural-looking false eyelashes that are lightweight and easy to apply. Brands are also creating innovative styles that cater to different eye shapes and preferences. In addition, the market is divided into nail products, including nail polish, nail removers, nail treatments and strengtheners, and other nail products (base coat, top coat, nail art stickers). Nail polish is a colored lacquer applied to the fingernails and toenails to add colour and shine. It comes in a variety of finishes, including matte, shimmer, and metallic, and can be formulated with a range of ingredients like UV filters and strengthening agents. The trend in this segment is towards long-lasting, chip-resistant formulas that provide high shine and vibrant colours. Brands are also incorporating more natural and sustainable ingredients, like plant-based oils and pigments, to cater to consumer preferences. Furthermore, nail treatments and strengtheners are used to repair and strengthen weak and brittle nails. They come in a variety of formulations, including serums, oils, and polishes, and can be enriched with ingredients like keratin and biotin to promote nail growth and health. The trend in this segment is towards more natural and plant-based formulations that cater to consumer preferences for clean and sustainable products.

The Global colour cosmetic market is divided into two major segments based on price range: mass and premium. The mass segment is generally made up of products that are priced lower than premium products and are widely available in mass-market retail stores. The premium segment, on the other hand, includes high-end products that are often sold in specialty stores and high-end department stores. Furthermore, the premium colour cosmetic market in North America is characterized by high-quality products, premium pricing, and luxury packaging. Brands in this segment include Chanel, Dior, Lanc?me, Est?e Lauder, and MAC. These brands focus on offering premium ingredients, unique formulas, and high-end packaging to appeal to a more affluent consumer. They often use celebrity endorsements, social media marketing, and influencer collaborations to promote their products and differentiate themselves from mass-market brands.
The women's segment dominates the market, accounting for the majority of the revenue share. The increasing demand for colour cosmetics among women can be attributed to various factors, such as the rise in the number of working women and the growing awareness about personal grooming and appearance. Furthermore, the men's segment, on the other hand, is expected to witness significant growth in the coming years. The increasing trend of male grooming and the growing acceptance of makeup among men are some of the factors driving the growth of the men's segment in the global colour cosmetic market. Men's grooming products, including colour cosmetics, are becoming increasingly popular, particularly among millennials and Gen Z consumers who are more conscious of their appearance.

Based on the distribution channel include specialty stores, brand outlets, online channels, convenience stores, and others (salons). Specialty stores are a significant distribution channel for colour cosmetics, with stores such as Sephora and Ulta Beauty being popular destinations for shoppers. These stores offer a wide range of products and services, including makeup consultations and sampling, which help customers choose the right products for their skin type and tone. Furthermore, online channels, including e-commerce websites and social media platforms, are also a growing distribution channel for colour cosmetics. Online shopping provides convenience, easy access, and a wide range of products to choose from, making it a popular choice for many customers. For instance, some popular e-commerce websites for colour cosmetics include Amazon, Walmart, Target, CVS, Macy's, Beautylish, Beauty Bay, Glossier, and more.
There are several certifications for colour cosmetics in the global market that ensure products are safe for consumer use and comply with certain standards. For instance, ISO 22716 This certification is awarded to cosmetics manufacturers that comply with Good Manufacturing Practises (GMP) for cosmetics. It covers areas such as quality control, product formulation, and storage and distribution. Furthermore, COSMOS certification is awarded to cosmetics that meet certain environmental and ethical standards. Products must contain a minimum percentage of natural and organic ingredients and not contain certain synthetic ingredients. Moreover, ECOCERT certification is awarded to cosmetics that meet certain environmental and ethical standards. Products must contain a minimum percentage of natural and organic ingredients and not contain certain synthetic ingredients.