Global Color Cosmetics Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Target Market (Premium Products, Mass Products), By Application (Nail Products, Lip Products, Eye Make-up, Facial Make-up, Hair Color Products, Special Effects Products, Others), And By Geography - Forecasts From 2022 To 2027

The global color cosmetics market was valued at US$76.323 billion in 2020.

The global color cosmetics market is rising due to increasing consciousness among people about their appearance and the improving quality of life. Color cosmetics help in enhancing one’s beauty and providing them confidence. The major driving factor for the growing color cosmetics market is the increase in the disposable income of people, changing lifestyles, and consciousness about their appearance. The growing number of working women are improving their lifestyle, demanding stylish and designer clothes. This is due to the high fashion sense among women. The increasing presence of fashion-conscious consumers and high disposable income are the major reasons for the high demand for color cosmetics. Developing countries are seeing a rise in their disposable income due to urbanization and growing industries. This gives people the liberty to spend more of their income on their desired products. The rise in the number of women working in multinational companies is giving rise to the formation of new markets for fulfilling their demands. This is encouraging global cosmetics companies to invest more in developing new products while diversifying their product lines.

At the same time, a rapid increase in internet and smartphone penetration has given rise to a new platform for retailers to sell cosmetics directly to end users. The increasing visibility and ease of accessibility of the online platform have raised the market for e-commerce companies. The color cosmetics market is increasing its presence in the online market by way of providing customers with a convenient and wide range of products while investing little in advertising.

Newmarket players are entering the global color cosmetics market with the help of online selling platforms across different regions. For example, Indian brands, Nykaa and Purplle started their businesses through an online platform and have gained a large amount of popularity in the country. As a result, its revenue has increased and it has established itself in the cosmetics industry.  The increasing influence of digital media due to huge investments by cosmetics companies in advertising and marketing their products through social media platforms like Instagram, Facebook, YouTube, Pinterest, and beauty blogs helps in increasing sales. The increasing affluence of social media is an opportunity for companies to expand their horizons. This is resulting in more competition in the global color cosmetics market, thereby fueling the overall market growth.

The global color cosmetics market is segmented by target market, application, and geography. Market segmentation based on the target market is done as premium products and mass products. The global color cosmetics market is also segmented by application as nail products, lip products, eye make-up, facial make-up, hair color products, special effect products, and others.

Premium products work heavily on brand loyalty

The premium product group primarily targets customers who are brand loyal and frequently purchase brand goods.  Luxury goods mostly come in prestige targets. As luxury goods are expensive and exclusive, only a group of selectable people can afford them. The luxury/premium color cosmetics market is usually driven by rich people. The mass product segment has a significant share of the global color cosmetics market. These color cosmetics are largely used by people of the middle and lower-income groups. The increasing innovation and affordability of color cosmetics are constantly spurring the market growth of mass product segments across the world. The increasing innovation by color cosmetics companies to provide consumers with a variety of options like anti-aging creams, UV protection lotions, etc. are fueling the market. The demand for organic color cosmetics is an upcoming trend and is going to increase the demand in the forecast period.

Facial Make-up has a notable amount of market share

Color cosmetics can be used to enhance the look of the face, eyes, lips, nails, and hair. The increasing number of female workers around the world and increasing disposable income are driving the demand for color cosmetics. Facial makeup has a significant amount of market share due to various facial products including face powder, foundation, concealer, bronzer, and many more. The increasing shade of lipstick and nail polish is growing the market for the lip and nail application segments. The increasing purchasing power of the consumer, especially in emerging economies like India and China, will continue to boost the market for color cosmetics during the next five years. 

By geography, Europe has a significant share of the market

Regionally, the global color cosmetic market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. Europe is expected to have a significant market share in the color cosmetic market due to the presence of major cosmetics companies and the high demand for color cosmetics in the region. The emerging popularity of organic/natural color cosmetics due to rising concerns over the harmful effects of synthetic cosmetics is further driving the color cosmetics market growth in the region. The Asia-Pacific region is expected to be the fastest-growing regional market for color cosmetics during the forecast period. The increasing disposable income of people and the rising working women’s population are augmenting the demand for color cosmetics. The urbanization and growing economy of the nation have provided more power for people to buy their desired products. This growth is further supported by the presence of many online make-up and other cosmetics, both international and domestic brands, selling platforms in countries like India, China, and South Korea.

Recent Development and expansions

• Google announced a partnership with data partners Perfect Corp & ModiFace in December 2020 to enable customers to view the thousands of eye shadow as well as lipstick colors offered by companies like MAC, L'Oreal, Charlotte Tilbury, and many others.
• The Estee Lauder Company's Smashbox joined forces with Perfect Corp, a leading global provider of beauty technology, in July 2021 to become the first cosmetics brand to use the YouCam face analyzer technology, which is driven by artificial intelligence (AI).
• Bloomers announced the introduction of a new color cosmetics brand in India in July 2021. They have a large selection of goods accessible, including foundation and lipsticks, which are also sold in neighborhood markets and drug stores.
• In October 2020, Amway India introduced Personalized Serum, a customized skincare solution with Artistry Signature Select. With this launch, the company expands its product line and enters the serum skincare market in India.
• In October 2020, Coty stated that the cosmetics company kylie skin's direct-to-consumer website would be expanding to the United Kingdom, Germany, Australia, and France. As a result, the company will be able to expand internationally and consumer spending power will increase.
• Leading biotech corporation Amyris announced in April 2021 that it had acquired Beauty Labs International, giving its portfolio a seventh clean color cosmetics brand.

COVID-19 Impact on Color Cosmetics Market

Global trade, the availability of raw materials for the cosmetics industry, and import and export activities have all been significantly hindered by the COVID-19 epidemic. Due to remote work, a decline in social activities, and the trend toward natural cosmetics, this has also had a detrimental impact on the market for beauty products. Additionally, the general cosmetics market was impacted by mandatory mask use, which decreased the need for lip products and decreased sales of high-end beauty goods. However, the market expansion during the pandemic was supported by the huge increase in cosmetics product sales through online distribution. High demand for bacterial prevention, skincare, and natural beauty products as well as emerging trends in the online streaming of new launches are what is causing such high consumption of cosmetics.

Global Color Cosmetics Market Scope:

Segmentation:

• By Target Market
  • Premium Products
  •  Mass Products
• By Application
  • Nail products
  •  Lip products
  •  Eye Make-up
  •  Facial Make-up
  •  Hair Color Products
  •  Special Effects Products
  •  Others
•  By Geography
  • North America
    • USA
    •  Canada
    •  Mexico
  •  South America
    • Brazil
    •  Argentina
    •  Others
  •  Europe
    •  Germany
    •  France
    •  United Kingdom
    •  Spain
    •  Others
  •  Middle East and Africa
    • Saudi Arabia
    •  Israel
    •  UAE
    •  Others
  •  Asia Pacific
    •   China
    •  Japan
    •  South Korea
    •  India
    • Indonesia
    • Thailand
    • Taiwan
    •  Others