Shades of Success: Global Colour Cosmetics Market Set to Achieve 5% CAGR by 2032 | FMI

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.

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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.

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.

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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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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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