DUBLIN--(BUSINESS WIRE)--The "Cosmetic Pigments Market by Composition (Organic, Inorganic), Type (Special Effect, Surface treated, Nano), Application (Facial Makeup, Eye Makeup, Lip Products, Nail Products, Hair Color Products), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The cosmetic pigment market in 2019 was worth USD 698 million in 2019 and is expected to reach USD 1,019 million by 2024, registering a CAGR of 7.9% between 2019 and 2024.
The increasing demand for cosmetic products primarily triggers the growth of the global cosmetic pigments market. Cosmetic pigments are used in manufacturing cosmetic and personal care products for color enhancement. The restraining factor in the market is the stringent regulatory framework. There are different regulations which govern the use of various ingredients that are used while manufacturing cosmetic products, which hampers the growth of cosmetic pigment market.
The special effect pigments segment is projected to register the highest CAGR during the forecast period
Special effect pigments are expected to register the fastest growth, in terms of both value and volume. The increasing demand for special effect pigments in cosmetic products such as lip products and eye shadows is expected to drive the market for this type of pigments during the forecast period. These pigments also help in enhancing the skin tone. Special effect pigments provide cosmetics products with glow and texture improvement benefits.
Facial makeup is projected to be the fastest-growing application of cosmetic pigments during the forecast period
Facial makeup is the largest application of cosmetic pigments. Facial makeup consists of products such as foundation, blushers, face bronzing lotions, creams, powders, loose & pressed powders, and mineral powders. Foundations are skin-colored cosmetic products that are applied to the face for an even skin tone.
The coverage pigments in facial makeup products are titanium dioxide, zinc oxide, and kaolin. These give a white color, which scatters light and enhances the skin's natural color. These ingredients have an added advantage of being UV-protectant. Thus, cosmetic pigments are used in facial makeup applications such as foundations, blushers, and powders, where titanium dioxide is used to add brighter colors.
APAC is projected to be the fastest-growing cosmetic pigments market during the forecast period
The APAC market is projected to register the highest growth for cosmetic pigments, in terms of value and volume, owing to the rapid development of the color cosmetic & personal care industry in the region. The growth is attributed to the easy availability of raw materials used for manufacturing these pigments.
The APAC cosmetics & personal care industry provides access to cosmetic pigments manufacturers, owing to the factors, including low-cost manufacturing and the growing middle-class population in countries such as China, South Korea, and India. The consumers in these countries are moving from basic to premium skin and hair care products and color cosmetics, thus, providing export opportunities to a wide range of the US-based cosmetics pigments manufacturers.
Less stringent regulations related to the use of cosmetic pigments while manufacturing color cosmetics also offer growth opportunities to the manufacturers in the region. There is a demand for cosmetics in this region, owing to the increasing disposable income, which allows the consumers to prefer high-quality color cosmetics along with the basic beauty and personal care products.
Market Dynamics
Drivers
- Increasing Demand for Cosmetic Pigments in Cosmetic and Personal Care Applications
- Increasing Income and Improving Lifestyle
- Interest of Consumer in New, Differentiated, and Premium Products
Restraints
- Stringent Regulations
Opportunities
- Consumer Interest in Environment-Friendly and Sustainably Produced Ingredients in Cosmetic and Personal Care Products
Challenges
- Maintaining the Quality of Cosmetic Pigments for Mass Market Products
Company Profiles
Key Players
- Sun Chemical
- Sensient Cosmetic Technologies
- Merck
- Sudarshan
- Kobo Products
- BASF
- Clariant
- Geotech
- Venator
- Lanxess
- ECKART
Other Key Players
- Koel Colours
- LI Pigments
- Chem India Pigments
- Yipin Pigments
- Nihon Koken Kogyo
- Ferro Corporation
- Dayglo Color
- Elemental SRL
- Kolortek
- Sandream Impact
- Vibfast Pigments
- Neelikon
- Miyoshi Kasei
- Toyal
- Kuncai Europe
For more information about this report visit https://www.researchandmarkets.com/r/4yk5er
