Color Cosmetics Global Market Report 2024

The color cosmetics market size has grown strongly in recent years. It will grow from $48.08 billion in 2023 to $51.45 billion in 2024 at a compound annual growth rate (CAGR) of 7%. The growth observed in the historic period can be attributed to several factors, including evolving consumer preferences, changing makeup trends, an increase in disposable income levels, growing demand for personalized cosmetic products, and the significant influence of celebrities and social media on beauty standards and trends.

The color cosmetics market size is expected to see strong growth in the next few years. It will grow to $68.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing adoption of online purchasing, a rising demand for clean and sustainable beauty products, the proliferation of eCommerce platforms, growing consumer interest in skincare-infused makeup formulations, and the expanding popularity of social media platforms. Key trends expected in this period encompass advancements in technologies, the surge in popularity of minimalist makeup routines and "skinimalism" trends, the widening availability of vegan and cruelty-free cosmetics offerings, the growing utilization of augmented reality (AR) and virtual try-on technology, and the emergence of innovative ingredient trends such as clean beauty formulations and skin-friendly makeup products.

The burgeoning e-commerce industry is poised to drive the expansion of the color cosmetics market in the foreseeable future. E-commerce, synonymous with electronic commerce, denotes the online exchange of goods and services, streamlining transactions via the Internet. Its growth is propelled by unparalleled convenience, allowing consumers to shop from the comfort of their homes or while on the go, leveraging devices like smartphones or tablets. Color cosmetics, prized for their visual allure, are prominently featured on e-commerce platforms due to the ease of online purchasing. Notably, in August 2023, the U.S. Census Bureau reported U.S. retail e-commerce sales for the second quarter of 2023 at $277.6 billion, reflecting a 2.1% (±0.9%) increase from the preceding quarter. Hence, the expansion of the e-commerce industry is fueling the growth of the color cosmetics market.

Leading players in the color cosmetics sector are strategically realigning their focus towards introducing innovative and pioneering products, such as adaptive skin technology, to cater to evolving consumer preferences. Adaptive skin technology, an advancement in skincare, endeavors to bolster the skin's innate resilience by aiding in its renewal, regeneration, and reinforcement processes. For instance, in August 2023, Prada, an esteemed Italian fashion brand, unveiled Prada Skin and Prada Color, encompassing skincare essentials and color-correcting cosmetics. Leveraging adaptive skin technology, these collections aim to enhance the skin's resilience. Prada Color offers a diverse array of hues and textures inspired by the brand's aesthetic vision, while the skincare line builds upon the success of the Prada Paradoxe fragrance.

In August 2023, L'Oréal S.A., a renowned cosmetics firm headquartered in France, completed the acquisition of Aesop for an undisclosed sum. This strategic move is designed to expand L'Oréal's presence in the premium cosmetics segment, with a specific focus on global expansion, particularly in China. Aesop, based in Australia, specializes in luxury beauty and colored cosmetics.

Major companies operating in the color cosmetics market are L'Oréal SA, Christian Dior SE, LVMH Moët Hennessy Louis Vuitton SE, Unilever PLC, The Estée Lauder Companies Inc., Chanel International BV, Amway Corporation, Shiseido Company Limited, Natura & Co, Sephora, Coty Inc., Amorepacific US Inc., Mary Kay Inc., Maybelline New York, Revlon Inc., Yves Saint Laurent, Givenchy, Fenty Beauty by Rihanna, NYX Professional Makeup, MAC Cosmetics, Clarins Group, Mamaearth, Laura Mercier Cosmetics, Oriflame Cosmetics AG, Julep Beauty.

North America was the largest region in the color cosmetics market in 2023. The regions covered in the color cosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the color cosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Color cosmetics encompass a range of cosmetic products formulated to enhance or alter the appearance of the skin, focusing on areas such as the face, eyes, lips, and nails. These products come in various colors and formulations, including powders, creams, and liquids, serving to add color, definition, and texture to the skin.

The primary categories of color cosmetics include nail products, facial makeup, eye makeup, lip products, hair color products, and special effects products. Nail products cater to nail enhancement and care, comprising nail polish, nail art, treatments, and associated tools. Pricing options span economic to premium tiers, with distribution channels including hypermarkets/supermarkets, convenience stores, specialty outlets, direct selling, and e-commerce platforms. These products find application in nail care, hair care, lip care, facial makeup, and other related areas.

The color cosmetic market research report is one of a series of new reports that provides color cosmetic market statistics, including color cosmetic industry global market size, regional shares, competitors with color cosmetic market share, detailed color cosmetic market segments, market trends, and opportunities, and any further data you may need to thrive in the color cosmetic industry. This color cosmetic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The color cosmetics market consists of sales of foundation, concealer, blush, eyeshadow, eyeliner, mascara, lipstick, lip gloss, and nail polish. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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