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Color Cosmetics Market

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Asia Pacific is the dominant region in the global color cosmetics market and was valued at US$ 18.40 Bn in 2016. China is leading market in this region, owing to increasing prevalence of western culture and demand for branded products.
Color Cosmetics Market - Global Trends and Forecast to
2025
Color cosmetics are a mixture of chemicals that are used to enhance the
appearance or divulging an aroma to the human body. The color cosmetics market is
expected to witness growth, owing to increasing nail care segment. For instance,
Avon’s new wellness brand Espira launched in 2018 is expected to boost growth of
the nail care sector. Introduction of various features such as improved skin texture in
facial makeup segment and other skin care benefits such as improvement in skin
tone, moisturizing, and inclusion of anti-aging properties are expected to fuel growth
of the color cosmetics market during the forecast period.
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Increasing inclination of women towards aesthetic appeal is one of the major driver
for growth of color cosmetics market. Furthermore, new product launches such as
new double wear foundation in 2017, increasing retail presence such as launch of
new Sephora stores in Indian market are some of the factors playing a key role in the
market. For instance, Sephora, a premium cosmetics retailer plans to open over ten
to twelve stores by 2018 across the Indian market. Furthermore, increasing
disposable income of population coupled with increasing adoption of branded
products are driving the demand for premium color cosmetics products. Some of the
leading vendors in the premium color cosmetics market include Coty, Chanel, Estee
Lauder, LVMH, and Shiseido.
Furthermore, sales through online distribution channel is key factor driving growth of
the market. The e-commerce platform allows consumers to compare a wide range of
products before buying them. For instance, online cosmetic sales in China
accounted for around 37% sales in 2017.
On the basis of product type, color cosmetics market is segmented into nail care, lip
care, eye make-up, and face make-up. On the basis of distribution sector, the market
is segmented into hypermarkets, supermarkets, specialty stores, and online stores.
Face make up segment is expected to account for the highest revenue share over
the forecast period, due to increasing availability of cosmetic products at low prices.
According to Coherent Market Insights analysis, the face make up segment is
expected to grow at a CAGR of 5.6% during the forecast period.
Asia Pacific is the dominant region in the global color cosmetics market and was
valued at US$ 18.40 Bn in 2016. China is leading market in this region, owing to
increasing prevalence of western culture and demand for branded products. In 2016,
L’Oreal led the color cosmetics market in China owing to its high brand presence and
extensive distribution network. India stands to be another important market for color
cosmetics owing to growing demand from tier 2 and tier 3 cities. Owing to the stiff
competition and market maturity, retailers are increasing their presence to tier 2 and
tier 3 cities to gain market presence. Color cosmetic products such as lip sticks and
nail polish are some of the most popular products across all age groups in India. In
addition to this, entry of foreign players into the market is further driving the market.
For instance, LASpalash Cosmetics, an US-based company and KIKO MILANO,
Italian company, entered the Indian market in 2016.
Europe is expected to be the second largest market for color cosmetics in terms of
revenue over the forecast period. Economies such as U.K., Germany, and France
are major region for market. Increasing adoption of recent trends in fashion by
population in this region and advent of social media bloggers and fashion influencers
educating customers about new trends and fashion are increasing demand for color
cosmetics, which in turn is expected to fuel growth of the market during the forecast
period.
North America is projected to hold a revenue share of 21.97% in the color cosmetics
market by 2025, owing to high demand for premium products such as Estee Lauder
and Coty. Furthermore, in the U.S., celebrity endorsements and launch of their own
product lines are driving growth of the market. For instance, popular celebrity brands
such as Kylie Cosmetics and Flower Beauty are gaining traction among population,
which in turn is fueling growth of the market.
Major Players in Global Color Cosmetics Market:
Some of the key players operating in the global color cosmetics market include
L’Oreal Group, Coty Inc., Krylon, Estee Lauder Companies Inc., Avon Products, Inc.,
Johnson & Johnson, Revlon, and Beiersdorf.
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Author
apeksha motghare
apeksha motghare455   documents Email
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