The global market for colour cosmetics is predicted to grow at a 5% annual rate throughout the forecast period, with sales expected to reach US$ 52.5 billion in 2022 and US$ 85.52 billion by 2032.
Thanks to the growth of distribution channels and the growing adoption of social media platforms, sales of colour cosmetics have skyrocketed. Additionally, it is projected that throughout the projection period, the rising demand for cruelty-free cosmetics would propel sales of vegan colour cosmetics.
The growing demand for eco-friendly cosmetics and the inclusion of cutting-edge technologies like artificial intelligence will be favourable for the market for colour cosmetics. AI is being used by top colour cosmetic firms like L’Oreal and others to enhance the comparison and visualisation of hundreds of cosmetic colour variations.
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Besides this, key players are investing extensively in research activities to include organic and natural color cosmetics such as face and eye makeup products in their portfolio. This is expected to bode well for the market.
As per FMI, facial make-up segment is expected to remain dominant in the global color cosmetic market during the forecast period.
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.
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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
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 over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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