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.
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.
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.
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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