The colour cosmetics market is experiencing a meteoric rise, projected to reach a staggering US$ 87,916 million by 2034. This translates to a phenomenal CAGR of 4.8%, painting a picture of unprecedented growth. But what’s fueling this boom, and how can you capitalize on it?
Here’s a glimpse into the key drivers shaping the colour cosmetics market:
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Fashion’s Ever-Changing Palette: The dynamic fashion industry acts as a muse for colour cosmetics. As trends shift, new makeup emerges to complement them, ensuring a constantly engaged consumer base. This presents a lucrative opportunity to develop colour cosmetics that align with the latest styles.
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The Rise of the Powerhouse Woman: Working women are a force to be reckoned with. They seek long-lasting, convenient, and flawless makeup that fits their busy schedules. By creating colour cosmetics that cater to their needs, you can tap into a loyal and growing customer segment.
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E-commerce: A Beauty Revolution: The rise of e-commerce platforms has democratized access to beauty products. This fosters fierce competition, driving innovation and the development of cutting-edge colour cosmetics at competitive prices.
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Disposable Income on the Rise: As global disposable income increases, consumers have more to spend on beauty products. This surge in purchasing power translates to a booming demand for colour cosmetics.
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The Power of Social Media Influence: Social media platforms have become a breeding ground for beauty trends. With increased awareness of cosmetic products, the desire to experiment with colour cosmetics has skyrocketed.
This confluence of factors presents a golden opportunity for industry leaders. By understanding these trends and developing targeted product lines, you can position your brand for unparalleled success.
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The increasing number of working women has also contributed to the growth of the color cosmetics market. With more women joining the workforce, the need for cosmetics catering to their needs is growing. In the current period, women are looking for products that are long-lasting, easy to use, and provide a flawless finish.
“The rising demand for organic and natural cosmetics presents an excellent opportunity for manufacturers to invest in research and development of safer and healthier products. As consumers are becoming more aware of the harmful chemicals used in cosmetics, the demand for organic products is increasing, providing manufacturers with a chance to cater to the growing demand and expand their market share,” says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights.
Key Takeaways from the Colour Cosmetics Market
- The colour cosmetics market is estimated to register a CAGR of 4.8% and reach a valuation of US$ 87,916 million by 2034.
- The natural and organics segment is anticipated to dominate the global market, holding a share of 64.3% in 2024.
- The eCommerce segment is expected to account for a 31.8% market share in 2024.
Competitive Landscape
With new brands entering the market and established players introducing innovative products, companies are competing on several factors such as quality, brand recognition, and pricing. Furthermore, the proliferation of eCommerce has made it easier for new players to enter the market and compete with established brands.
Key Market Players
- Chanel
- Dior
- Givenchy
- L’Oréal S.A.
- Kroylan Professional Make-up
- Lancôme
- Mamaearth
- TOM FORD S.A.
- Plum
- Coty Inc.
- MAYBELLINE New York
- Yves Saint Laurent
- PAC Cosmetics
- Revlon Group
- NYX Professional Makeup
- Shiseido Company
- Sephora
- Rimmel London
- Laura Mercier
- Julep Beauty
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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
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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