The cosmetic pigment market is expected to be valued at US$ 13,794.3 million in 2024. The market is expected to progress over the forecast period, with a CAGR of 6.6%. By 2034, the value of the market is forecasted to have inflated to US$ 26,235.5 million.
Maintaining or enhancing beauty is a prime concern for many consumers. While the female portion of the population is typically associated with the consumer base for cosmetic products, an increasing number of males, too, are indulging in beauty regimens. Thus, the rising sale of cosmetic products is benefitting the cosmetic pigment market.
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Manufacturers are aware though that beauty standards are constantly evolving and traditional beauty standards are no longer the norm. Thus, producers are making cosmetic pigments that appeal to various skin tones. Innovations are also being done with the colors of the cosmetic pigments.
The growing disposable income of the people is seeing more investment in personal care products on the part of consumers. The rising popularity of organic cosmetic pigments is also benefitting the market. However, the market also has to contend with consumer aversion towards the effects of cosmetic pigments as well as strict laws regarding the labeling and packaging of the product.
“Consumers have historically been heavily influenced by entertainment industry professionals such as models and actors in their choice of beauty products. To add to that, social media influencers have also started influencing the population significantly. Thus, market players have the avenue of collaborating with models, actors as well as social media beauty experts to expand the market’s reach,” says an analyst at FMI.
Key Takeaways from the Cosmetic Pigment Market
- The cosmetic pigment market is anticipated to be valued at US$ 13,794.3 million in 2024.
- Inorganic pigments are the predominant elemental composition in the market. For 2024, inorganic pigments are expected to account for 25.7% of the market share.
- Cosmetic pigments are primarily used in facial makeup products. For 2024, facial makeup is anticipated to account for 25.7% of the market share.
- India is one of the most promising countries in the market. The CAGR for India over the forecast period is anticipated to be 11.3%.
- China is another Asian country poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for China is pegged at 9.4%.
- The market is expected to register a CAGR of 8.7% in Australia over the forecast period.
Competition Analysis of the Cosmetic Pigment Market
A few reputable companies dominate the cosmetic pigment market, though those with lesser capabilities have scope to thrive, too. Big-name players are targeting acquisitions to strengthen their position in the market. Some of the prominent companies in the market include Geotech, Eckart, BASF, and Lanxess.
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Key Players:
- Geotech
- Eckart
- BASF
- Lanxess
- Venator
- Nihon Koken Kogyo
- Ferro Corporation
- Dayglo Color
- Elemental Srl
- Kolortek
- Sandream Impact
- Chem India Pigments
- Yipin Pigments
- Sun Chemical
- Toyal
- Kuncai Europe
- Kobo Products
- Sensient Cosmetic Technologies
- Merck
- Vibfast Pigments
- Neelikon
- Miyoshi Kasei
Recent Developments in the Cosmetic Pigment Market
- In February 2024, Hubach launched the Cosmenyl S 100 range of sustainable pigment preparations.
- In July 2021, Sun Chemical unveiled the Reflecks MD Midnight Cherry and Reflecks MD Midnight Sapphire pigments.
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Key Segments
By Elemental Composition:
- Inorganic Pigments
- Organic Pigments
By Application:
- Facial Makeup
- Eye Makeup
- Lip Products
- Nail Products
- Hair Color Products
- Special effect & Special Purpose Products
- Others
By Type:
- Special Effect Pigments
- Surface Treated Pigments
- Nano Pigments
- Natural Colorants
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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