According to Fact.MR, the opportunities in the color cosmetics market is expected to cross worth of US$80 billion by the end 2022. The demand for color cosmetics will rise at a promising pace over the forecast period of 2017–2022, projects the report.
The color cosmetics market rides on the back of several macro-trends in the overall beauty industry. The distinct demand trajectories for color cosmetics has been witnessing several spikes over the past few years driven by changing fashion and fads. These changes have been increasingly being driven by consumers who are looking for newer and more effective formulations in skincare and anti-aging products. The growing inclination toward color cosmetics based on natural and organic ingredients has unlocked promising prospects in the market. Strategies on capitalizing on these avenues have led to notable product innovations in color cosmetics, especially in developing and developed regions. Market players are also leveraging the potential of online commerce to introduce new products and tap into emerging markets for color cosmetics.
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Asia Pacific is emerging as the regions with immense potential for companies in the color cosmetics market. This is attributed to the large lucrative avenues in key product segments notably facial make-up and hair color segments. A rapidly aging population has led to a burgeoning adult population, women as well as men, increasingly demanding hair dye brands. This is expected to lead to an extensive uptake of hair color cosmetics products in the region. However, in the coming years, players in the color cosmetics market may shift their attention to North America. A probable reason supporting this shift is the higher growth pace of the regional market, which is anticipated to rise at CAGR of 4.1% during the assessment period.
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E-commerce channels in the color cosmetics market are expected to proliferate at a robust CGAR in the coming years. In the year 2017, its revenue share was not substantial amounting to 11.6% in the overall color cosmetics market. However, there are several trends stoking the popularity of online channels for producers of color cosmetics. Rapid advances being made in the internet technologies, especially in emerging and developed economies, and changes in consumer buying patterns, are expected to fuel the demand for e-commerce sales channels in the color cosmetic products. The ease of the accessibility and rapid delivery of products are making e-commerce channel the cynosure of attention for users of color cosmetics.
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The study on the cosmetics market tracks the intensity of the competition in the overall market and the strategies adopted by new entrants to gain a foothold in the market. It also evaluates key tactical and strategic developments entered by emerging and established players such as related to mergers and acquisitions, mergers, and collaborations. Prominent players operating in the color cosmetics market are Procter & Gamble, Chantecaille Beaute Inc., Revlon, Inc., Limited, Coty, Inc., Shiseido Company, the Estée Lauder Companies Inc., Avon Products, Inc., Unilever N.V., LVMH Moët Hennessy Louis Vuitton S.E., and L'Oréal S.A.
Lucrative Avenues in Asia Pacific to impart Substantial Growth Impetus to Color Cosmetics Market
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