In the dynamic world of the Colour Cosmetics Market, major players are continuously enhancing their product portfolios through innovative new product launches. To solidify their global foothold, these industry leaders are pursuing expansion strategies, such as mergers, collaborations, and acquisitions. Embracing the digital era, they are harnessing the power of digital marketing strategies and social media platforms to captivate consumers and establish a strong digital presence.
In a bid to gain a competitive advantage, some of these companies are forging strategic alliances with eCommerce giants like Amazon, eBay, and other influential platforms. This concerted effort to leverage the expanding digital landscape is expected to reshape the colour cosmetics industry, setting the stage for a new era of market growth and consumer engagement.
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M.A.C Cosmetics: Founded in Toronto, Canada, in 1984 by Frank Toskan and Frank Angelo, M.A.C Cosmetics is an American cosmetics manufacturer known for its acronym, Make-Up Art Cosmetics. Since becoming a subsidiary of Estée Lauder Companies in 1998, the company’s headquarters is based in New York City.
Bobbi Brown: An influential figure in the beauty industry, Bobbi Brown is an American professional makeup artist, author, and founder of Bobbi Brown Cosmetics. Her pioneering creation of ten natural-shade lipsticks revolutionized the beauty industry and she has authored nine books on beauty and wellness.
Charlotte Tilbury: A prominent British makeup artist, Charlotte Tilbury is the founder, chairperson, president, and chief creative officer of Charlotte Tilbury Beauty Ltd, her own makeup and skincare brand. Notably, she is a contributing beauty editor for British Vogue and a global ambassador for Women International.
The Estée Lauder Companies Inc.: As an American multinational cosmetics company based in Midtown Manhattan, New York City, The Estée Lauder Companies Inc. is a renowned manufacturer and marketer of makeup, skincare, fragrance, and hair care products.
Pat McGrath Labs: A true visionary in the world of makeup, Pat McGrath is a modern-day makeup maestro with a rich history of working with runway shows, models, celebrities, and artists spanning decades. In 2015, she launched her award-winning beauty brand, Pat McGrath Labs, known for its innovative and versatile beauty solutions.
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The colour cosmetics market leads to an estimated CAGR of 5% in the global market during the forecast period and registers a revenue valued at US$ 52.5 Billion in 2022 and is expected to cross US$ 85.52 Billion by 2032.
Thanks to the growth of distribution channels and the growing adoption of social media platforms, sales of colour cosmetics have skyrocketed. Additionally, it is projected that throughout the projection period, the rising demand for cruelty-free cosmetics would propel sales of vegan colour cosmetics.
The growing demand for eco-friendly cosmetics and the inclusion of cutting-edge technologies like artificial intelligence will be favourable for the market for colour cosmetics. AI is being used by top colour cosmetic firms like L’Oreal and others to enhance the comparison and visualisation of hundreds of cosmetic colour variations.
Besides this, key players are investing extensively in research activities to include organic and natural color cosmetics such as face and eye makeup products in their portfolio. This is expected to bode well for the market.
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As per FMI, facial make-up segment is expected to remain dominant in the global color cosmetic market during the forecast period.
Key Takeaways from FMI’s Color Cosmetics Market Study
- Based on product type, natural & organic color cosmetic segment will account for nearly 49.9% of market share over the next five years.
- In terms of product category, sales in the eye makeup segment will total US$ 15 Bn by 2026
- In terms of price, premium color cosmetic segment is expected to account for over 60% of global market share
- China and South Korea are expected to spearhead the growth across East Asia color cosmetic market
- Supermarkets are expected to remain the preferred distribution channel in the color cosmetics market, however, sales via e-commerce are expected to pick up at a higher pace
- The U.S. is expected to dominate the North America color cosmetic market, with sales of color cosmetics across North America surging at 2% CAGR through the assessment period.
Color Cosmetics Market by Category
Product Type:
- Chemical
- Natural & Organic
Distribution Channel:
- Hypermarket/ Supermarket
- Convenience Store
- Specialty Store
- Direct Selling
- e-Commerce
Price:
- Economic
- Premium
Product Category:
- Nail Products
- Facial Makeup
- Eye Makeup
- Lip Products
- Hair Colour Products
- Special Effects Products
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
- Japan
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