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| Color Cosmetics Market Size |
The global Color Cosmetics Market is estimated to be valued at US$ 77.17 Bn in 2023 and is expected to
exhibit a CAGR of 4.7% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Color cosmetics refer to the products that are used to enhance the appearance
or make-up of the human face. It includes products such as foundations,
concealers, powder, blush, bronzers, lipsticks, lip glosses, eyeliners, eye
shadows, and mascaras. Color cosmetics provide benefits such as hiding
imperfections, enhancing facial features, and protecting skin from sun damage.
Rising consciousness about physical appearance among individuals has boosted
the demand for color cosmetics globally. Rapid urbanization and growing working
women population have further augmented the market growth.
Market key trends:
One of the key trends in the color cosmetics market is the rising demand for
premium and organic color cosmetics. Consumers are willing to spend more on
natural, sustainable, and high-performance cosmetic products. Growing concerns
regarding the usage of toxic chemicals in conventional cosmetics have led
manufacturers to focus on producing organic and plant-based color cosmetic
products. Innovation in product formulations by incorporating natural
ingredients is another trend being observed in the market. Additionally,
increasing focus on customized cosmetic products as per the skin type or skin
concern through online platforms is expected to drive the market growth during
the forecast period.
Porter’s Analysis
Threat of new entrants: The Color
Cosmetics Market Size has high fixed costs associated with R&D,
marketing, and manufacturing. Established brands have strong customer loyalty
making it difficult for new entrants.
Bargaining power of buyers: Buyers in the color cosmetics market have high
bargaining power due to availability of substitute products. Brand loyalty is
also low prompting buyers to switch easily.
Bargaining power of suppliers: Key raw materials used in color cosmetics such
as minerals, chemicals are available from numerous global suppliers. This eases
supplier bargaining power.
Threat of new substitutes: Threat of substitution is moderate as quality
natural alternatives can replace synthetic color cosmetics. However, buyer
preference for prestigious brands offers some protection.
Competitive rivalry: The color cosmetics industry has strong competition among
major brands. Companies focus on new product launches, innovation, and
promotional activities to gain market share.
Key Takeaways
The global color cosmetics market is expected to witness high growth,
exhibiting CAGR of 4.7% over the
forecast period, due to increasing spending on personal care and adoption of
premium products. Regional analysis
North America dominates the color cosmetics market owing to rising beauty
consciousness. Asia Pacific exhibits fastest growth led by India and China on
account of growing middle class, improving lifestyle and increasing spending on
cosmetics. Key players
Key players operating in the color cosmetics market are Beiersdorf, Krylon,
Estee Lauder Companies Inc., Amway, Avon Products Inc., CHANEL, Coty Inc,
Johnson & Johnson, KRYOLAN, L'oreal S.A, Revlon, Inc., Shiseido Company,
Limited.
Read More: https://www.rapidwebwire.com/color-cosmetics-market-size/