The Global Color Cosmetics Market is anticipated to cross USD 130 Billion with expected CAGR of 5.83% during 2023-28: Bonafide Research

Clifton, New Jersey, May 25, 2023 (GLOBE NEWSWIRE) — Color cosmetics, an integral part of the beauty industry, are a captivating assortment of products that enable individuals to enhance their natural features and express their personal style through the transformative power of colors. From radiant foundations that create a flawless canvas to mesmerizing eye shadows that accentuate the eyes, and from luscious lipsticks that add a pop of vibrant hues to sculpting blushes that impart a healthy glow, color cosmetics encompass a diverse range of offerings. With an unwavering focus on innovation, quality, and self-expression, this thriving market continuously evolves, presenting a myriad of options to cater to the diverse desires and preferences of beauty enthusiasts worldwide. Whether seeking a subtle and polished look or embracing bold and artistic statements, color cosmetics empower individuals to embrace their unique beauty and unleash their creativity in a world of endless possibilities. The rise of social media platforms and influencer culture has had a profound impact on the color cosmetics market. Influencers and beauty enthusiasts share trends, reviews, and tutorials, influencing consumer purchasing decisions and driving the popularity of certain products or brands.

Consumers are seeking personalized beauty experiences, and customization is becoming a key trend. Many brands such as MAC Cosmetics, Lancôme, bare Minerals, Bite Beauty, YSL Beauty, and the Lip Bar, etc are offering customization options, such as personalized shade selections, engraving services, or tailored beauty subscription boxes, to cater to individual preferences and create a unique customer experience. Also, collaborating with influencers, celebrities, or other brands for limited edition color cosmetics collections can generate excitement, exclusivity, and increased consumer interest. As millennial and Gen-Z consumers use make-up as a form of self-expression, the demand for bold and flashy colors is increasing, bolstering the market for color cosmetics. Furthermore, the growing popularity of K-beauty is driving up demand for multi-purpose products that can be used as both cosmetics and skincare. This is fuelling the development of innovative and cost-effective color cosmetics, which is expected to boost market growth by 2028.

Key Takeaways:

• North America is expected to dominate the global market with a 36.11% market share by 2028 followed by Europe.
• Facial color cosmetic products are highly utilized across the globe and the foundation is acquiring a 37.51% market share in 2021.
• Nail Polish and lipsticks are leading the market in 2022 in terms of nail color and lip color and they are expected to grow with more than 5.5% CAGR by 2023-28.
• War Paint for Men, MMUK MAN, Menaji, Stryx, Altr for Men, and Himsetc are some of the major brands that offer men’s color cosmetic products.
• Specialty Stores are the major distribution channel with USD 36.03 Billion market size in 2022.

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Color cosmetics are subject to various regulations and safety standards imposed by regulatory bodies in different countries. Ensuring compliance with these regulations, including ingredient restrictions and labeling requirements, can be complex and time-consuming for brands operating in multiple markets. For instance, regulatory agencies, such as the U.S. Food and Drug Administration (FDA), the European Union’s Cosmetic Regulation, and other national authorities, have specific regulations regarding the use of ingredients in color cosmetics.

The color cosmetics market is highly competitive, with numerous brands vying for consumer attention. Established brands, indie brands, and new entrants all compete for market share, making it challenging for companies to differentiate themselves and stand out in a crowded marketplace. Price sensitivity is also a significant challenge in the color cosmetics market, as consumers have varying budgets and affordability constraints. Balancing product quality, brand image, and pricing strategies to meet consumer expectations while maintaining profitability can be a delicate balancing act. Increasing consumer awareness and concerns about sustainability and environmental impact pose challenges for color cosmetics brands. Meeting the demands for eco-friendly packaging, responsibly sourced ingredients, and sustainable manufacturing practices requires investment, innovation, and a commitment to reducing the environmental footprint. The color cosmetics market is driven by innovation, and brands must continually invest in research and development to create new and exciting products. Developing unique formulations, textures, and packaging innovations requires significant investment in resources, time, and expertise.

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Leveraging AR technology and virtual try-on tools can enhance the online shopping experience for color cosmetics. Apart from this, due to the growing consumer awareness of natural cosmetics, companies are focusing on replacing synthetic ingredients with natural plant-based colorants. Furthermore, the introduction of premium color cosmetics in innovative packaging designs is anticipated to create a positive outlook for the market. However, busy lifestyles and the desire for simplicity have created an opportunity for multifunctional and time-saving color cosmetics products. Formulations that combine multiple benefits, such as a foundation with built-in SPF protection or a lip product that offers both color and hydration, can cater to consumers seeking convenience without compromising on quality.

Many color cosmetic products now incorporate facial care ingredients like hyaluronic acid, antioxidants, and botanical extracts to provide added benefits to the skin while enhancing its appearance. The foundation segment is occupying 37.51% market share in 2022 from the overall facial color cosmetic products market. However, in recent years, water-based formulations are becoming more prevalent, offering lightweight and breathable alternatives to traditional oil or silicone-based products. Water-based foundations, primers, and blushes provide a natural-looking finish while hydrating the skin. Dewy and glowing skin, skin tint, and sheer coverage, sun-kissed bronzed look, customizable foundation, and natural and clean formulations are growing in demand in facial color cosmetics. Furthermore, more and more complexion products, such as foundations, BB creams, and tinted moisturizers, now come with added SPF (Sun Protection Factor).

Nail care and treatment products have seen increased demand as individuals seek to maintain healthy nails. Products like cuticle oils, strengthening treatments, and nourishing base coats are popular choices to promote nail health. With the rise of social media and online tutorials, do-it-yourself (DIY) nail art has become a popular trend. Many individuals enjoy experimenting with different nail designs and techniques, creating unique looks without having to visit a salon. Gel nail polish revolutionized the nail industry by offering long-lasting, chip-resistant, and high-gloss finishes. Nail polishes with unique textures and special effects have become popular. This includes polishes with matte finishes, holographic effects, metallic finishes, glitter, and even magnetic polishes that create interesting patterns when exposed to a magnet. Demands for nude and neutral shades, pastel hues, metallic and chrome finishes, negative space nail art, gradient and ombre effects, and geometric nail art are majorly growing across the globe.

The lipstick effect is a phenomenon observed during economic downturns. It refers to the increased sales of lipstick and other affordable luxury items during challenging economic times. It is believed that people turn to small indulgences like lipstick to boost their mood and maintain a sense of normalcy. Liquid lipsticks have gained immense popularity in recent years. These lip products typically offer long-lasting, highly pigmented colors with a matte or satin finish. Nude and natural lips, glossy and shiny lips, matte lips, ombre and gradient lips, lip stains, and metallic & shimmer lips are major emerging trends. On the other hand, Balayage and highlights are popular choices for adding dimension and depth to the hair. Soft, blended color transitions, whether natural or more creative are majorly favored in terms of hair color segment. Pastel &fantasy colors, root shadowing, natural-looking colors, money piece highlights, smoky & ashy tones, color melting & rich and warm brunettes are growing in demand owing to the increasing emergence of the industry.

The smokey eye makeup trend remains a classic favorite; it involves using dark, smudged eyeshadows to create a sultry, smoky effect around the eyes. Defined and bold eyebrows have also become a prominent trend in recent years. From natural-looking brow products to micro-blading and brow tinting, there is a focus on achieving well-groomed, sculpted brows that frame the face and enhance eye features. As for the hair color cosmetic segment,  pastel hair colors, such as lavender, baby pink, and mint green, have been trending for several years. Temporary hair color products, such as sprays, chalks, and wash-out dyes, have gained popularity as a way to experiment with different colors without committing to a permanent change. They offer a fun and temporary way to switch up hair color for special occasions or simply for self-expression. The segment is growing with 7.87% CAGR by 2023-28. Vibrant eyeshadow shades, colorful eyeliner, the monochromatic eye looks, pastel eye makeup, metallic & foiled finishes, graphic eye makeup, glitter & shimmer, and colorful mascara are some of the trends in color eye makeup that are popular globally.

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The North American color cosmetic market is uniquely diverse due to its multicultural population. This diversity influences product preferences, with brands catering to a wide range of skin tones, ethnicities, and cultural backgrounds. North America is also known for its vibrant beauty specialty retailer landscape. Stores like Sephora and Ulta Beauty offer a wide selection of color cosmetic products from various brands, providing consumers with a unique shopping experience and access to exclusive products.

Europe has a rich beauty heritage, with countries like France, Italy, and the United Kingdom known for their long-standing beauty traditions and expertise. European brands often draw inspiration from their cultural heritage and history of craftsmanship. Europe is renowned for its prestigious and luxury color cosmetic brands. Iconic brands like Chanel, Dior, Guerlain, and Lancôme have established themselves as global leaders, offering high-quality products and embodying a sense of luxury and sophistication.

South Korea’s K-Beauty (Korean Beauty) and Japan’s J-Beauty (Japanese Beauty) have had a significant impact on the global beauty industry. These beauty trends emphasize skincare, innovative formulations, and a natural, youthful aesthetic. In several Asian countries, there is a cultural preference for fair and bright skin. As a result, skin whitenings and brightening products, such as BB creams and color correctors, are in high demand in the Asia-Pacific color cosmetic market. Online influencers, particularly on platforms like Weibo, WeChat, and Instagram, play a crucial role in driving trends, product recommendations, and consumer purchasing decisions.

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South American consumers have a strong preference for color cosmetic products formulated with natural ingredients. Many brands in the region incorporate indigenous botanicals and traditional remedies into their formulations, highlighting the region’s biodiversity and cultural heritage. Carnival, a widely celebrated festival in countries like Brazil and Colombia, has a significant influence on the color cosmetic market. Bright, vibrant colors and bold makeup looks are associated with Carnival, inspiring the creation of festive and colorful cosmetic products. Given the region’s proximity to the equator and the prevalence of sunny climates, sun protection is a crucial consideration in color cosmetic products. South American consumers value cosmetics that offer sun protection factors (SPF) to shield their skin from harmful UV rays.

The Middle East & Africa region has a rich cultural heritage that greatly influences the color cosmetic market. Traditional beauty practices, such as henna application, kohl eyeliner, and intricate makeup techniques, continue to shape consumer preferences and trends. Halal-certified color cosmetics, which comply with Islamic dietary laws, are highly sought after in the Middle East & Africa markets. Brands that offer halal products cater to the needs of Muslim consumers and ensure that their formulations are free from ingredients that are considered haram (forbidden). The region is home to influential Arabic beauty bloggers and social media influencers who have a significant impact on consumer purchasing decisions. Their makeup tutorials, product reviews, and beauty tips shape trends and contribute to the popularity of specific color cosmetic brands.

Considered in the Report

• Geography: Global
• Historic Year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

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In the dynamic and ever-evolving world of cosmetics and skincare, the emergence of anti-aging products has heralded a new era of possibilities. The Global Anti-Aging Market is anticipated to cross USD 89 billion by 2028, growing at a 6.89% CAGR by the end of the forecast period. The widespread popularity and global acclaim of anti-aging products testify to their transformative abilities. As individuals strive to embrace the passage of time while maintaining their allure, these products have become indispensable allies in their pursuit of ageless beauty. North America is a prominent market for anti-aging products and treatments. The region is characterized by a high level of awareness and adoption of skin care and anti-aging regimens. The market in Europe is driven by factors such as the presence of well-established cosmetic brands, a high level of consumer awareness, and growing demand for anti-aging treatments. However, the Asia-Pacific region is experiencing rapid growth in the anti-aging market. The market is driven by factors such as a large population, rising disposable incomes, evolving beauty standards, and a growing middle class with an increased focus on personal grooming. South America and Middle East & Africa are growing at a steady rate by 2023-28.

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