Color cosmetics market: Overview
Personal care products, including facial makeup products, lip makeup products, hair color products, nail makeup products, eye makeup products, and special effects makeup products such as skin effect products, show blood, tear sticks, and tooth enamels are classified as color cosmetics. An increasing number of individuals across the globe is found to be resulting in an increased amount spent on color cosmetics products. With a global awareness and trends towards using ecologically responsible and green cosmetic products, manufacturers are seen shifting from their usual niche distribution channels for organic cosmetic products and making their ‘green’ products available to a majority of consumers through mainstream and mass retailers.
The study presents a detailed analysis of the present trends, drivers, and competitive landscape of the global color cosmetics market. It offers an examination of qualitative as well as quantitative trends of the global color cosmetics market to assist the respective players and manufacturers to thoroughly comprehend the global industry conditions.
What is driving the Demand for Color Cosmetics?
An increasing number of working women are opting for green and eco-friendly color cosmetic products, owing to the fact that some of the synthetic makeup products have been found to contain toxic cosmetic chemicals. Sale of color cosmetics products is projected to grow through the various e-commerce portals and websites owing to the higher usage and growing number of smartphones and other digital communication devices. Easy access to digital e-commerce portals for transactions is seen resulting in increasing product penetration in a number of untapped markets across the globe.
Various technological developments have a huge impact on the increasing demand for the customization of various color cosmetic products. The added convenience of being able to purchase a wide range of organic and toxin-free cosmetic products through e-commerce platforms has resulted in continued demand for products in the color cosmetics market.
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Key Developments and Trends in Color Cosmetics Market
The increasing awareness about beauty products due to increased exposure through various digital platforms including movies, TV shows, and advertisements is one of the major factors fueling the global color cosmetics market. A high demand for branded color cosmetic products is seen to increase the rate of growth of the market to result into higher revenue for the overall market. Increased preference for the natural and organic, toxic-free beauty products has paved the way for innovation and technical advancements in the field, with manufacturers focused on the production of environment friendly color cosmetic products. The color cosmetics market is anticipated to be most lucrative for manufacturers in South Korea in the near future, due to the availability of natural cosmetic raw products such as pearl powder, snail secretions, and starfish extracts, among others.
Some of the key players in the high end color cosmetic market include Procter and Gamble Co., L’Oréal, LVMH, Estee Lauder, Dove, Garner, and Maybelline.
Which Regions are Anticipated to Lead the Color Cosmetics Market?
On the regional landscape, North America as well as Europe are leading in the color cosmetic market. On the other hand, Asia Pacific color cosmetic market is seen to be growing at a relatively elevated rate in terms of the volume. This change can be majorly attributed to the increasing per capita income of working women as well as the rising demand due to increasing population. This change is largely due to the demands of the emerging economies in the region including India and Indonesia among others.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.