Color Cosmetics Market Set to Witness an Uptick during 2019 to 2025

Posted by Mrudula Anil Karmarkar on February 2nd, 2022

The global color cosmetics market size is expected to reach USD 86.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.2% over the forecast period. Growing consciousness about physical appearance, along with rising purchasing power in the developing countries such as India, China, and Brazil, is driving the market for the products.

Furthermore, rapid adoption of the western lifestyle has increased the consumer spending on personal care products. Furthermore, rising women participation in the global workforce has boosted the demand across the world. This women workforce is expected to raise the demand for beauty products in the near future as it represents the main consumer category of the industry.

Facial products dominated the market, accounting for over 25.0% share of the total revenue in 2018. Popular facial products include facial foundation, powder, concealer, and bronzer. Growing penetration of social medial and online makeup tutorials has been propelling the demand of the facial products over the world. Over the past few years, waterproof and sweat proof makeups have gained significant popularity among the women, especially during summer.

Asia Pacific is expected to be the fastest growing regional market. Increasing per capita income in countries such as China, India, Indonesia, and Brazil has provided consumers the space to spend more on premium personal care products. Rapid urbanization in these nations has helped in expanding the consumer base of the industry. China makes a considerable contribution to the growth as Chinese travelers has fueled the sales of the color cosmetics significantly. They accounted for 45% of sales of the travel retails in the world. L\'Oréal has partnered with the local start-ups of Japan, China, and India to strengthen its presence in these lucrative markets.

Some of the key players are L\'Oréal S.A.; Estée Lauder Companies Inc.; Unilever; Shiseido Company, Limited; Avon Products, Inc.; Revlon Inc.; Coty Inc.; Ciaté London; CHANTECAILLE BEAUTÉ; and Kryolan. Major companies are also considering the digital medium as an important tool for marketing. On an average, L’Oréal annually spends around 30% of marketing budget on the digital advertising. The company has started a digital campaign – Beauty Squad, through which it sells articles and videos with the help of the social influencers.

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Instagram, YouTube, Facebook, Twitter, Pinterest, and the Beauty Blogs are the main digital marketing channels, which are influencing the consumers to try new cosmetic products. For instance, the Google search for “foundation for me” has been doubled during 2013 to 2018. Thus, the digital platform is a crucial marketing tool for the producer, where they directly interact with the consumers.

Color Cosmetics Market Report Highlights

  • Facial products held the largest share of over 25.0% in 2018. Lip products are expected register the fastest CAGR of 7.0% from 2019 to 2025
  • Online distribution channel is anticipated to expand at a CAGR of 9.3% from 2019 to 2025
  • Europe accounted for a revenue share of 29.5% in 2018

Over past few years, the demand for organic beauty products has grown significantly. Growing awareness regarding animal health and environment protection is fueling the demand for organic products. Furthermore, shifting consumer preference towards the usage of organic products due to rising concerns over harmful effects associated with synthetically derived cosmetics is driving the market across the globe.

In August 2018, L’Oréal acquired Logocos Naturkosmetik AG, a Germany-based natural cosmetics products manufacturer. Logocos sells products under the brand names such as Logona and Sante. The company’s product portfolio comprises bio certified vegan products including make-up, hair color, and lipstick. This acquisition is expected to play a key role in expanding the share of L’Oréal in the near future.

Some of the key competitors are L\'Oréal S.A.; Unilever; Estée Lauder Inc.; Avon Products; Inc.; Shiseido Company, Limited; Coty Inc.; and Revlon, Inc. In the upcoming years, the companies are expected to focus on product innovations and expansion in Asia pacific. China is a key market in the region, where rising awareness and growing consumer spending power are driving the demand. Besides, companies are expected to strengthen their online presence to increase their visibility and reach among consumers.  

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Mrudula Anil Karmarkar

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Mrudula Anil Karmarkar
Joined: July 2nd, 2020
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