Cosmetic pigments are used extensively in cosmetic and personal care products. These pigments are available in natural and synthetic types. Cosmetic pigments that are not permanent are called fugitive pigments. Fugitive pigments fade when exposed to light or eventually fade over time. Cosmetic pigments are primarily employed in the manufacture of products such as facial makeup, lip products, eye makeup, nail products, hair color products, and special effects and special purpose products.
Based on composition, the cosmetic pigments market has been segmented into organic and inorganic. Inorganic cosmetic pigments account for the significant share of the global cosmetic pigments market owing to the rise in disposable income of consumers and changing fashion trends. Organic cosmetic pigments are expected to experience high growth rate, led by the increase in awareness about the benefits of using organic products. Changing consumer preferences and fashion trends are anticipated to boost the cosmetic pigment market during the forecast period.
In terms of region, the global cosmetic pigments market has been segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Europe was the largest market for the cosmetic pigments market in 2015. The market for cosmetic pigments in Europe is estimated to expand due to the increase in demand for cosmetic pigments in various applications such as lip products, nail products, facial makeup, eye makeup, hair color products, and special effects & special purpose products. Facial makeup held large share of the cosmetic pigments market in Europe in 2015. The application segment is driven by the rising demand for root makeup products such as foundations and face powders. Increase in disposable income of consumers in North America and Europe is projected to boost the cosmetic pigments market in these regions. The U.S. and U.K. are likely to constitute major share of the cosmetic products market in North America and Europe due to the high disposable income of the people and new product launches. Cosmetic pigments market is anticipated to witnessing a shift from the U.S., Western Europe and Japan to the developing economies of Asia due to less stringent environmental regulations. Developing economies in Asia, namely China and India, are also projected to register high growth rate in the color cosmetic pigments market due to the increase in income of consumers and changing lifestyle. Technological advancements and innovations of new products are expected to boost the demand for cosmetic pigments during the forecast period.
Global demand for cosmetics is anticipated to rise significantly in the near future, thereby offering high growth opportunities for the cosmetic pigments market. Rapid increase in demand in end-use applications, competitive manufacturing costs, and high economic growth rate are propelling the cosmetic pigments market in Asia Pacific. These factors are attracting companies to adopt expansions and R&D strategies in the region. Market players are focusing on Asia Pacific to gain higher market share. Producers of cosmetic pigments have been compelled to adopt expansion and acquisition strategies to meet the global demand. Large numbers of producers are shifting their plants to countries such as China and India due to the factors such as high demand and low raw material and labor costs.
Major players operating in the global cosmetic pigments market are Sun Chemical, Sensient Cosmetic Technologies, Sudarshan Chemical Industries, EMD Performance Materials, Lanxess, BASF SE, Geotech International B.V., Huntsman, Clariant, and Kobo Products Inc.
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.