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Color Cosmetics Market

Color Cosmetics Market

Color Cosmetics Market By Product Type (Facial Color Products, Eye Makeup Products, Lips Products, Nail Products, Hair Color Products), By Form (Powder, Spray, Crème, Gel), By Pricing (Mass, Mid-premium/Affordable Premium, Premium) - Forecast 2021-2031

Color Cosmetics Market
FACT64MR
  • Nov-2021
  • List of Tables : 165
  • List of Figures : 57
  • 170 Pages
  • Consumer Goods

Color Cosmetics Market Outlook

The global color cosmetics market size was valued at $77 billion in 2021 and is projected to reach $140 billion by 2031, Market is growing at a CAGR of 6.2% from 2021 to 2031.

Import export analysis of color cosmetic products suggest that lip products are the world’s most traded color cosmetics product. France holds 19.6% of global color cosmetics exports, whereas the United States is estimated to be the top destination for the import of color cosmetic products, holding a share of 11.8%.

Color cosmetics business research performed by Fact.MR includes key findings such as the latest and speculative production capacity, capacity utilisation rates of each manufacturer, recent and speculative pricing, and price optimization strategy across the value chain, as well as an economic evaluation of colour cosmetics production.

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Key Points Covered in Colour Cosmetics Industry Survey:

  • Color cosmetics protein market Estimates and Forecasts (2016-2031)
  • Production Capacity Analysis of Prominent Manufacturers
  • Colour cosmetics protein Pricing Analysis
  • Product Pricing Optimization Strategy
  • Associated Industry Analysis (Beauty and Cosmetics Market Overview)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • COVID-19 Impact on Sales of Color Cosmetics and How to Navigate
  • Exclusive sales assessment of color cosmetics
  • Recommendation on Key Winning Strategies

Demand Analysis of Colour Cosmetics from 2016 to 2020 Vs. Market Projections for 2021 to 2031

Although the COVID-19 pandemic affected the global beauty industry drastically, top color cosmetic companies were able to quickly recover by shifting their focus temporarily to the manufacturing of sanitisers and products for healthcare workers. However, the colour cosmetics market has been a long-standing sector that has amassed a huge number of loyal customers over a span of time.

Growing e-Commerce sector along with continuous improvements, technological advancements, and originality of product launches are estimated to boost sales of color cosmetics over the coming years.

The global color cosmetics market is expected to witness steady growth, surging at a CAGR of 6.2% from 2021 to 2031 as compared to a CAGR of 5.2% for 2016 to 2020, according to Fact.MR.

An Adaptive Approach to Modern-day Research Needs

Are Top Color Cosmetic Brands Becoming More Gender Inclusive?

While the mainstream media has traditionally focused on women's beauty and grooming supplies, more options for men's cosmetic products are available in the market now. There is increasing emphasis by the inclusive beauty to include more gender-neutral color cosmetics.

Beauty industry heavyweights such as Maybelline and Covergirl have created products to pander to this trend. Other companies that offer men’s makeup and gender-neutral color cosmetics products include Asos, Yves Saint Lauren, MAC, Tom Ford, and Clinique. Several top color cosmetic companies have also introduced male celebrities as their brand ambassadors to promote their gender-inclusive color cosmetic lines.

How are Global Brands Penetrating Regional Markets?

The last few years witnessed increasing number of global color cosmetics brands targeting new continents and regions. Sephora introduced the Korean Beauty brand, Dr. Jart+ in its U.S. stores, introducing K-beauty products in the country.

Further, Indonesia holds a significant share of halal color cosmetic products. Apart from Asian markets, top brands are seeking to widen their market to the African continent and Brazil as well. Increased consumption of color cosmetic products in developing countries is estimated to encourage brands to enter more regional markets.

However, targeting new countries requires localisation of global brands. Hence, several companies are introducing culture-specific product lines and heritage color cosmetic products in regional markets. For instance, Germany's minimalist skincare approach has witnessed increased popularity and distribution channels globally, while Ayurveda-inspired beauty enterprises such as Sahajan, Aavrani, Uma Oils, and others are pursuing Western consumers.

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Are Plant-based Ingredients Shaping the Color Cosmetics Market?

Similar to the food and beverage sector, plant-based ingredients have taken the color cosmetics space by storm. Ingredients such as coconut, lavender, turmeric, and others have witnessed increased demand due to rising demand for chemical-free color cosmetics.

Sourcing of natural ingredients proves to be a challenge for manufacturers due to the presence of external factors such as environmental changes. Several color cosmetic brands are utilising vertical integration in their operations to better control their ingredient supply chains by collaborating with regional farms and opening their own testing labs.

There is greater emphasis on sustainability in the cosmetics market since transparent ingredient procurement leads to eco-friendly manufacturing processes, giving brands a competitive edge.

Color cosmetics market region by Fact.MR

Country-wise Analysis

How is the Brazil Color Cosmetics Market Faring?

According to Fact MR, the Brazil market is estimated to expand at 7% CAGR during 2021-2031. This massive country has continually showed a rising trend in beauty consumption, both during and after the onset of the COVID-19 pandemic.

As a result of Brazil's vast population but relatively low income, there are a great number of transactions with relatively little values. Rise in disposable income has created a new consumer group- the middle class - which drives sales in the country.

By 2031, the color cosmetics industry in Brazil is estimated to be valued at US$ 4 Mn. Additionally, due to high excise duty and a limited distribution network, Brazilians often purchase expensive cosmetics abroad, allowing the local mass market to thrive and flourish without constraints.

Is Economic Growth the Driving Force Behind the China Color Cosmetics Industry?

Because of its rapid economic expansion, China's beauty and personal care business has witnessed tremendous transformation over the last decade. A sustained period of economic expansion has resulted in significantly higher disposable income levels per household.

As the Chinese population becomes better compensated, they devote more and more money to consumerism. They are able to devote more attention to their health, good hygiene, and grooming their appearance, making the color cosmetics industry one of the leading markets in the country.

According to Fact.MR, the China market is estimated to expand at 3.4% CAGR owing to the emerging middle-class population in China. It is estimated that in 2020, the total middle-income households in China were over 50% of the population, making it an attractive segment for color cosmetic brands in the country.

Does the U.S. Market for Color Cosmetics Subject Domestic Products to the Same Regulations as Imports?

The U.S. market is estimated to be valued at US$ 10.8 Bn in 2021, and is expected to rise at a CAGR 7.3% during the forecasted period.

The FDA provides guidelines for the examination of domestically produced color cosmetics. Imports of color cosmetics must adhere to the same laws and regulations as those produced in the United States.

With the exception of colour additives, cosmetic products and ingredients are not subject to FDA premarket review. They must however be safe for consumers to use under labelled or customary conditions, and they must be appropriately labelled.

Why are Organic and Vegan Color Cosmetic Products the New Rage in Germany?

The Germany color cosmetics sector is estimated to witness 3% CAGR during the forecast period, according to the report by Fact.MR. Demand for color cosmetics with natural components as well as those with sensitive and/or hypoallergenic labelling has gained popularity among consumers in Germany.

Demand for organic color cosmetic products combined with increased popularity of organic and vegan products has prompted brands operating in the country to focus on natural and organic color cosmetic ingredients derived from natural colours, essential oils, or botanical compounds.

Germany has a strong distribution network. The top brands include Maybelline, Lancôme, L’Oréal Paris, and Essence. Top color cosmetic companies are well recognised and enjoy considerable brand loyalty from their customers.  

Category-wise Insights

Why Does the Crème Form Dominate the Market for Color Cosmetics?

On the basis of form, the crème segment accounts for nearly 38% market share in 2021, but the powder segment is expected to witness lucrative growth at 7.2%. Increased demand for anti-aging crème and UV protection crème is driving the sales of crème color cosmetic products.

Which is the Most Attractive Product Type of Color Cosmetics?

According to Fact.MR, facial color products account for more than 27% market share in 2021, but sales of cosmetic products for nail products are expected to rise at a CAGR of 7.5% over the decade.

Increased adoption of online distribution by manufacturers is driving the online sales of nail products across the global market. But online sales of facial products are still facing some struggle due to consumers still preferring to test facial products in person.  In fact, more than 45% of consumers say they want to see color cosmetics for the face in person, and nearly 20% of consumers want suggestions from a store expert.

Color cosmetics for lips is estimated to witness a fall in demand due to use of masks that negate the use of lip color cosmetics.

Many consumers now explore beauty products on social media platforms such as Facebook, Instagram, and YouTube, and, as such, it is no surprising fact that both, existing and new brands are increasing their spending on digital media to increase social media sales of color cosmetic products.

Why are Men’s Color Cosmetic Products Gaining Traction?

The men’s color cosmetics segment is expected to offer lucrative opportunities and expand at a CAGR of 6.7% during 2021-2031. There has been a significant cultural shift in how people perceive and accept men who express their needs, resulting in increasing popularity of men’s color cosmetics.

In the past, there existed a stigma of men using cosmetic products; however, with the rise of the social media era and a generation that is politically aware, there is increasing demand for luxury color cosmetics for men.

Men’s beauty brands have gone beyond offering traditional men’s grooming products such as razors and shaving creams to include facial cosmetics and hair color products.

Color cosmetics market consumerby Fact.MR

How Has COVID-19 Impacted Demand for Color Cosmetics?

The COVID-19 pandemic led to a reduction in traffic and revenue generated from offline sales of color cosmetics. Even after retail stores, departmental stores, and brand outlets were reopened, consumers shifted towards e-platforms to buy color cosmetics. Fact.MR claimed that Chinese color cosmetics brands saw 20% -30% increased revenues from online sales of color cosmetic products.

Due to a significant number of population working from home and minimal travel, there has been a shift in preferences of customers to above-the-mask treatments. The trend is expected to continue as customers are bound to wear masks even while leaving for work.

Online sales for nail products and eye makeup is estimated to witness increase due to the aforementioned factors, which will influence market growth of color cosmetics during the decade.

The distribution analysis of color cosmetics states that increased online sales are not offsetting the decrease in offline channels. Color cosmetic manufacturers may have to strengthen their distributions networks once brick-and-mortal stores reopen.

Competition Landscape

The market is highly competitive with the presence of several well-established brands such as L’Oreal, Estee Lauder, Revlon, Chanel S.A, and LVMH. Cosmetic companies are having to become highly innovative with their new product launches.

Due to increased demand for low-end color cosmetics, several new brands are emerging in the market. Challenger brands such as Fenty Beauty gained popularity in color cosmetics quite rapidly due to a wide range of offerings.

Fact.MR has provided detailed information about price points of color cosmetics, manufacturers positioned across regions, sales growth, production capacity, and speculative production expansion in the recently published report.

  • L’Oreal recently filed an international patent for the technology used in customised hair color products used by its direct-to-consumer brand Color & Co.

Similar recent developments related to companies offering color cosmetics have been tracked by the team at Fact.MR, which are available in the full report.

Color Cosmetics Industry Report Scope

Attribute

Details

Market size value in 2021

USD 77 Billion

Market forecast value in 2031

USD 140 Billion

Growth Rate

CAGR of 6.2% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

MT for Volume and US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Australia
  • New Zealand
  • Turkey
  • GCC Countries
  • South Africa
  • North Africa

Key Market Segments Covered

  • Product Type
  • Form
  • Pricing
  • Consumer Orientation
  • Sales Channel
  • Region

Key Companies Profiled

  • Johnson & Johnson
  • Benefit Cosmetics LLC
  • Revlon Group
  • MAC Cosmetics
  • Procter & Gamble Co.
  • Colgate-Palmolive Company
  • Chanel S.A.
  • Laverana GmbH & Co. KG
  • Clarins Group
  • Shiseido Co. Ltd.
  • Coty Inc.
  • Ciate London
  • Chantecaille Beaute Inc,
  • Kroylan Professional Make-up
  • Avon Products, Inc.
  •  The Estee Lauder Companies Inc.
  •  Unilever PLC
  • Others

Pricing

Available upon Request

Main Segments Covered in Color Cosmetics Industry Research

  • By Product Type

    • Facial Color Products
      • Blushers
      • Foundation
      • Loose Face Powder
      • Concealers
      • Other Facial Products
    • Eye Makeup Products
      • Eye Liners/Pencils
      • Mascara
      • Eye Shadow
      • Other Eye Makeup
    • Lips Products
      • Lip Gloss
      • Lip Liners/Pencils
      • Lip Sticks
      • Other Lip Products
    • Nail Products
      • Nail Paints
      • Nail Polish
      • Nail Removers
      • Nail Treatment/Strengtheners
      • Other Nail Products
    • Hair Color Products
      • Permanent
      • Demi-permanent
      • Semi-permanent
      • Gradual
  • By Form

    • Powder
    • Spray
    • Crème
    • Gel
  • By Pricing

    • Mass
    • Mid-premium/Affordable Premium
    • Premium
  • By Consumer Orientation

    • Color Cosmetics for Men
    • Color Cosmetics for Women
    • Unisex Color Cosmetics for
  • By Sales Channel

    • Specialty Stores
    • Brand Outlets
    • Modern Trade Channels
    • Online Channels
    • Departmental Stores
    • Convenience Stores
    • Other Stores

- FAQs -

The global color cosmetics market is valued at close to US$ 77 Bn currently.

Color cosmetics value is expected to increase at a CAGR of around 6.2% during the period 2021-2031.

In terms of revenue, the market rose at a CAGR of around 5.2% during 2016-2020.

Increasing demand for natural and organic products, rise of multi-functional makeup, and high demand for low-end color cosmetics are some of the key trends emerging in the market.

The market witnesses high frequency of incubation, R&D, and product launches from top color cosmetic companies, as they do not want to lose their standing with the emergence of several low-end brands.

Top 5 color cosmetic manufacturers hold around 55-60% share of the global market.

The U.S., Germany, U.K., China, Japan, and India are major countries driving demand for color cosmetics.

East Asia holds around 5.5% of total color cosmetics industry revenue share.

The U.S. market is projected to expand at a CAGR of around 7.1% over the next ten years.

The report presents detailed cost analysis on color cosmetics on the basis of product type i.e. facial color products, eye makeup products, lip products, nail products and hair color products.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.