The cosmetic pigments market is projected to register a CAGR of 7.9%, in terms of value, between 2019 and 2024
NEW YORK, Sept. 17, 2019 /PRNewswire/ --
The cosmetic pigments market is projected to register a CAGR of 7.9%, in terms of value, between 2019 and 2024.
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The cosmetic pigment market in 2019 was worth USD 698 million in 2019 and is expected to reach USD 1,019 million by 2024, registering a CAGR of 7.9% between 2019 and 2024. The increasing demand for cosmetic products primarily triggers the growth of the global cosmetic pigments market. Cosmetic pigments are used in manufacturing cosmetic and personal care products for color enhancement. The restraining factor in the market is the stringent regulatory framework. There are different regulations which govern the use of various ingredients that are used while manufacturing cosmetic products, which hampers the growth of cosmetic pigment market.
The special effect pigments segment is projected to register the highest CAGR during the forecast period.
Special effect pigments are expected to register the fastest growth, in terms of both value and volume.The increasing demand for special effect pigments in cosmetic products such as lip products and eye shadows is expected to drive the market for this type of pigments during the forecast period.
These pigments also help in enhancing the skin tone. Special effect pigments provide cosmetics products with glow and texture improvement benefits.
Facial makeup is projected to be the fastest-growing application of cosmetic pigments during the forecast period.
Facial makeup is the largest application of cosmetic pigments.Facial makeup consists of products such as foundation, blushers, face bronzing lotions, creams, powders, loose & pressed powders, and mineral powders.
Foundations are skin-colored cosmetic products that are applied to the face for an even skin tone.
The coverage pigments in facial makeup products are titanium dioxide, zinc oxide, and kaolin.These give a white color, which scatters light and enhances the skin's natural color.
These ingredients have an added advantage of being UV-protectant. Thus, cosmetic pigments are used in facial makeup applications such as foundations, blushers, and powders, where titanium dioxide is used to add brighter colors.
APAC is projected to be the fastest-growing cosmetic pigments market during the forecast period.
The APAC market is projected to register the highest growth for cosmetic pigments, in terms of value and volume, owing to the rapid development of the color cosmetic & personal care industry in the region. The growth is attributed to the easy availability of raw materials used for manufacturing these pigments.
The APAC cosmetics & personal care industry provides access to cosmetic pigments manufacturers, owing to the factors, including low-cost manufacturing and the growing middle-class population in countries such as China, South Korea, and India. The consumers in these countries are moving from basic to premium skin and hair care products and color cosmetics, thus, providing export opportunities to a wide range of the US-based cosmetics pigments manufacturers.
Less stringent regulations related to the use of cosmetic pigments while manufacturing color cosmetics also offer growth opportunities to the manufacturers in the region. There is a demand for cosmetics in this region, owing to the increasing disposable income, which allows the consumers to prefer high-quality color cosmetics along with the basic beauty and personal care products.
This study was validated through primary interviews conducted with various industry experts worldwide. The primary sources were divided into three categories, namely, company type, designation, and region.
• By Company Type– Tier 1: 57%, Tier 2: 29%, and Tier 3: 14%
• By Designation–C Level: 43%, Director Level: 35%, and Others: 22%
• By Region– APAC: 40% Europe: 30%, North America: 19%, Middle East & Africa: 6%, and South America: 5%
The report profiles several leading players of the cosmetic pigments market that include Sun Chemical (US), Sensient Cosmetic Technologies (France), Merck (Germany), BASF (Germany), ECKART (UK), Sudarshan (India), Kobo Products (US), Clariant (Switzerland), and Geotech (Netherlands).The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the cosmetic pigments market.
Research Coverage:
The report offers insights on cosmetic pigments used in various applications across regions.It aims at estimating the size of the cosmetic pigments market during the forecast period and projects the future growth of the market across the elemental composition, type, application, and region segments.
The report also includes an in-depth competitive analysis of the key players in the cosmetic pigments market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the cosmetic pigments market by providing them with the closest approximations of the revenues for the overall market and its various sub-segments.This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies.
The report will also help stakeholders understand the pulse of the market and help acquire information on key drivers, restraints, challenges, and opportunities affecting the growth of the cosmetic pigments market.
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