Color Cosmetics Market to Surpass US$ 50 Bn by 2021 Driven by Accelerating Sales of Natural and Organic Makeup and Skincare Products

Color Cosmetics Market to Surpass US$ 50 Bn by 2021 Driven by Accelerating Sales of Natural and Organic Makeup and Skincare Products

PR Newswire

DUBAI, UAE, Nov. 18, 2021

An exhaustive analysis conducted by Future Market Insights (FMI) discovers critical trends accelerating growth in the color cosmetics market. It categorizes the market in terms of product type, distribution channel, price, and product category. The study compares color cosmetics market future outlook with historic performance. It also offers refined forecasts on the scope for expansion across the world.

DUBAI, UAE, Nov. 18, 2021 /PRNewswire/ -- As per a detailed analysis by FMI, the global color cosmetics market is expected to exceed US$ 50 Bn by the end of 2021. Easy availability of a wide variety of cosmetic products owing to the growing e-commerce penetration is boosting the market.

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Shifting preference of consumers in favor of natural cosmetic products and higher awareness about toxicity present in synthetic ingredients, traditionally used in the cosmetics industry are favoring sales of organic color cosmetics. In response to this, the color cosmetics market is anticipated to expand at a 5% CAGR over the forecast period 2021-2031.

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Growing consciousness about animal health and environmental protection among present-day consumers is encouraging them to opt for organic color cosmetic products. This is expected to spur sales in the market at 4.5% CAGR in terms of volume through 2031.

Numerous cosmetic companies are aiming at adopting strategies such as mergers, acquisitions, and collaborations to expand their portfolio. For instance, L'Oréal announced the acquisition of a Germany-based natural cosmetic products manufacturer, Logocos Naturkosmetik, to expand its portfolio of vegan products including hair color, make-up, and lipstick. A slew of such developments is anticipated to propel the demand for color cosmetics in the coming years.

In terms of product category, the facial makeup segment is projected to outrank other segments, accounting for nearly 33.4% of sales in 2021. Surging demand for face powder, face creams, and other cosmetics is driving the sales of facial make-up.

"Leading manufacturers are emphasizing on enhancing customer experience by integrating advanced technologies such as artificial intelligence (AI) with the company's e-commerce platforms. These developments will enable customers to try and experiment with their make-up virtually before making the final purchase. This is expected to accelerate growth in the market," says a FMI analyst.

Key Takeaways from Color Cosmetics Market Study

Key Drivers

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Key Restraints

Competitive Landscape

As per FMI, leading players in the global color cosmetics market are anticipated to hold nearly 30% to 35% of the total sales in 2021.

Key companies are focusing on launching new products to expand their product portfolio. Besides this, some of the players are adopting expansion strategies such as collaborations, mergers and acquisitions to strengthen their global presence. For instance,

Some of the key players operating in the market profiled by FMI are:

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More Valuable Insights on Color Cosmetics Market

The latest report published by FMI offers a detailed analysis on the global color cosmetics equipment market, forecast sales and demand growth for the assessment period 2021-2031. The study reveals growth projections in color cosmetics equipment market with detailed segmentation:

Product Type:

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Key Questions Covered in the Report

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