Between 2021 and 2031, the colour cosmetics market is expected to expand at a CAGR of 5%. By 2031, demand for natural and organic colour cosmetics and facial makeup products will still be rising, resulting in colour cosmetic sales that will surpass US$ 50 billion by that year.
| Attribute | Details |
| Estimated Color Cosmetics Market Size in 2021 | US$ 50 Bn |
| 2020-2021 Color Cosmetics Market YoY Growth | ~2% |
| Top Color Cosmetics Market Players Share in 2021 | 30%-35% |
| Color Cosmetics Market Value CAGR (2021-2031) | ~5% |
Sales of colour cosmetics have exploded thanks to the expansion of distribution channels and the increasing penetration of social media platforms. Additionally, it is anticipated that the growing demand for cruelty-free cosmetics will drive sales of vegan colour cosmetics throughout the course of the projection period.
The market for colour cosmetics will benefit from the rising demand for environmentally friendly cosmetics and the incorporation of cutting-edge technology like artificial intelligence. AI is being used by some of the top colour cosmetics companies, including L’Oreal, to visualize and compare thousands of shades of cosmetics better.
In addition, major businesses are spending a lot of money on research projects to expand their range to include organic and natural colour cosmetics such face and eye makeup items. The market is anticipated to benefit from this.
According to FMI, the facial makeup industry is anticipated to maintain its dominance over the course of the forecast.
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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.
Competitive Landscape
As per FMI, top players are expected to account for over 30%-35% of global market share in 2021. Presence of numerous leading players in the market have led to intense competition. In order to gain competitive edge, key players are collaborating with social media influencers and e-commerce giants.
Also, some of the manufacturers are introducing new products under the clean-label category in order to capitalize on surging demand for organic and natural color cosmetic products. They are also investing in research and development activities to develop products with extended shelf-life.
Some of the key players profiled by Future Market Insights are L’Oréal SA, LVMH (Moet Hennessey Louis Vuitton), Estee Lauder Companies Inc., Revlon Inc., Shiseido Co. Ltd., Chanel S.A., Coty Inc., Mary Kay Cosmetics, Amway Cosmetics, Kose Corporation, and Others.
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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 (ESOMAR certified 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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