Pune, India, April 20, 2022 (GLOBE NEWSWIRE) — The world color cosmetics market grossed USD 70.34 Billion in 2021. The market is expected to grow from USD 72.74 Billion in 2022 to USD 94.49 Billion by 2029 at a CAGR of 3.8% during the forecast period. Fortune Business Insight™ elucidated these ideas in his latest research report, titled “color cosmetics market, 2022-2029.”
According to the analysis, colorful cosmetics have become trendier to complement high-end lifestyle and personal care. With the growing importance of personal hygiene, skin care, fragrances, hair care and makeup, industry players are likely to pour funds into cosmetic products.
The report offers a comprehensive perspective of market size, share, volume, and revenue. He also delved into SWOT analysis and Porters five forces analysis. The report was prepared using qualitative and quantitative analyzes to reinforce the strategic approach. Primary interviews validate assumptions, conclusions, and prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers and journals.
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Key Players Profiled in the Market Report:
- L’Oreal SA (Clichy, France)
- Unilever (London, UK)
- Avon Products Inc. (London, UK)
- Estee Lauder Inc (New York, USA)
- Shiseido Company, Limited (Tokyo, Japan)
- Revlon, Inc. (New York, USA)
- Coty Inc. (New York, USA)
- Amway (Michigan, USA)
- KRYOLAN (Berlin, Germany)
- CIATE (London, UK)
- CHANEL (Paris, France)
Asia-Pacific will remain at the helm with a growing middle-class population
Stakeholders expect China, Japan and India to provide lucrative opportunities for color cosmetics manufacturers and suppliers. The Asia-Pacific market size stood at USD 30.02 billion in 2021 and will witness a similar trend in the wake of booming middle-class population. For example, face and nail products will gain popularity across China, prompting major manufacturers to expand their penetration.
The outlook for the North American market will be strong thanks to technological advancements and the presence of leading companies. It should be noted that the prevalence of social media influencers in the United States and Canada will attract large companies to invest in the portfolio. Additionally, major players including Glossier, Morphe and Kylie Cosmetics have increased their investment in promotional activities through social media. Dominant trends hint at a robust outlook in the US and Canada, with investment likely to shift towards environmentally friendly products.
Industry players expect the growth of the European color cosmetics market to gain momentum following the penetration of high-end cosmetic products. In particular, Germany has become a major hub due to the increase in consumption of organic products. Online channels should be sought in the UK, France, Germany and Italy amid the COVID-19 pandemic.
In terms of target market, the market is segmented into mass products and prestige products.
Based on distribution, the industry is fragmented online and offline.
As for the application, the market is divided into hair products, nail products, face products, lip products and others.
Geographically, the market covers Europe, North America, Asia Pacific, Middle East & Africa and Latin America.
Drivers and Restrictions
Increase in online channel traffic to highlight industry growth
Technological advancements and the trend of rolling out streaming products on platforms such as YouTube, Meta (Facebook), Twitter, and Instagram will boost the color cosmetics market share. Manufacturers are likely to partner with celebrities and influencers to retain old customers and attract new ones. With the expansion of digital marketing, Millennials and Generation Z are poised to show a preference for color cosmetics. Moreover, the penetration of organic products will also give a boost to the growth of the industry. Several manufacturers have turned to sustainable products in emerging and advanced economies.
However, chemical-based cosmetics may experience a drop in sales as a result of tough regulations.
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Major players are investing in strategic approaches to increase footfall
Industry players are expected to invest in technological advancements, mergers and acquisitions, product rollouts, and R&D activities. In addition, investments in innovations and product offerings will gain in importance to expand their geographic footprint.
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Key emerging trends – for major regions
- Main developments: mergers, acquisitions, partnerships, etc.
- Latest technological advancement
- Overview of the regulatory scenario
- Analysis of the five forces of carriers
- Qualitative Insights – Impact of COVID-19 on the Global Color Cosmetics Industry
- Supply chain challenges
- Measures taken by government/companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Global Color Cosmetics Market Analysis, Outlook and Forecast, 2018 – 2029
- Main results/summary
- By target market (value)
- Prestige products
- Mass products
- Pay-as-you-go (value)
- By application (value)
- Nail products
- Hair products
- Lip products
- Facial products
- By region (value)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Development of the key color cosmetics industry
- April 2020: Avon rolled out the second batch of K-beauty products following the success of the first batch’s fashion collection the year before.
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