Decorative Cosmetic Ingredient Market: Introduction
Cosmetics are material or substances aimed for cleaning, beautification, enhancing the attractiveness and appearance or for improving the skin and hair condition. However, decorative cosmetics are used to enhance the appearance of an individual which include eyes, face, toe nails and finger nails, thus making them more attractive hence boosting their confidence. Decorative cosmetics includes products such as foundation creams, nail polishes, lipsticks, mascaras, pressed powders etc. Furthermore, the growing demand for beauty products has resulted in an increased visibility of decorative cosmetics products especially in the markets of developing and underdeveloped economies which have boosted the growth of the decorative cosmetic ingredient market. In developed market key players are differentiating themselves through their target demographics, pricing and are launching products which contain more natural content and are not tested on animals, as consumers are becoming more conscious of the ingredient and their effect and impact on the environment and society. Moreover, developed market such as Europe and North America, consumers are choosing product with peer review of the raw material & its origin and at the same time are expecting highest level of effectiveness and innovation in the product which has resulted in an increased demand for natural decorative cosmetic ingredients thus driving the growth of decorative cosmetic ingredient market over the forecast period.
Decorative Cosmetic Ingredient Market Segmentation
Global Decorative Cosmetic Ingredient market can be segmented on the basis ingredient type, end use application, and region. On the basis of ingredient type, decorative cosmetic ingredient market is segmented into filler, pigments, binders, glitters, thickeners, film formers, powders and others. On the basis of end-use application, decorative cosmetic ingredient market is segmented into nails, face, eyes, and lips.
Decorative Cosmetic Ingredient Market: Regional Outlook
On the basis of geography, the Decorative Cosmetic Ingredient market is segmented into North America, Latin America, Europe, Asia-Pacific, and MEA. Globally, among all regions, Asia Pacific is expected to be the largest market owing to high consumption of cosmetics, which is then closely followed by Europe and then North America. Europe is expected hold substantial market share over the forecast period owing high penetration of decorative cosmetics and region being the fashion hub of the world. In addition, Asia Pacific is anticipated to witness significant growth over the forecast period owing to the increasing demand for decorative cosmetics in luxury, mass market and professional sectors
Decorative Cosmetic Ingredient Market: Dynamics
The decorative cosmetic industry is growing rapidly owing to increasing product advertisement by various popular personalities on the social media as they are considered role models among millennials and generation z. Furthermore, social media focuses on appearance, presentation, and self-expressions which have resulted in an increased consumption of decorative cosmetics, especially among the younger generation. Furthermore, attributed to the increased connectivity among individuals through social media, the younger generation is reinventing fashion and are creating new trends. The demand for high quality decorative cosmetic products coupled with changing lifestyle and increasing per capita spending on cosmetic products especially in developing and emerging countries of Asia Pacific and Latin America is anticipated to drive the market of global decorative cosmetic ingredient over the forecast period. In addition, key players are offering decorative cosmetic products with added health benefits to cater the growing demand in developed market thus catalyzing the growth of decorative cosmetics ingredient market, for instance L'Oréal S.A which is a French cosmetics company offers Lumi Healthy Luminus Makeup under its brand True Match which offers antioxidants, vitamin and UV protection. However, stringent government regulation on the ingredients and increasing trends of makeup free look is anticipated to restrain the growth of decorative cosmetic ingredient market over the forecast period.
Decorative Cosmetic Ingredient Market Key Player:
Some of the major players operating in decorative cosmetic ingredient market includes BASF SE, Azelis S.A., Behn Meyer Holding AG, Ashland Inc, DuPont, The Dow Chemical Co. and other regional players.
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.