Increasing Expenditure on Personal Care Products to Augment Growth of Global Color Cosmetics Market

 

Color cosmetics are cosmetic products that aid in improving the overall look of your body. Color cosmetics include the main colorants used for facial, lip care, skin care and oral care, plus the chemicals used for fragrance and other oral care. The color cosmetics market is a multi-billion dollar business and there are a large number of products available that contain colorants or fragrances. Some of the most popular color cosmetics include lipstick, eye shadow, blush, eye glosses, and blushes. Color cosmetics usually include, two types of compounds: the natural colorants used to make the product and the synthetic colorant compounds used to make the product. Natural colorant compounds include, natural pigments from plants, mica from mined ore and titanium dioxide.

Market Dynamics

Significant growth in the e-commerce sector is expected to offer lucrative growth opportunities for players in the global color cosmetics market over the forecast period. For instance, according to India Brand Equity Foundation, the e-commerce sector in India is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. 

Among regions, North America is expected to witness significant growth in the color cosmetics market, owing to increasing expenditure on personal care products. For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018. The market is also witnessing several M&A activities. For instance, in November 2020, HatchBeauty Brands acquired Duncan Cosmetics, the beauty portfolio of Duncan Enterprises. Duncan Cosmetics’ brands include Lique, Tattoo Junkie, Remi Rose and BE Beauty Essentials.

Among end users, the men segment is expected to significant growth, owing to increasing aesthetic appeal among men. For instance, according to a 2018 survey by GlobalData, around three quarters of South Korean men undertake a beauty or grooming treatment at least once a week.

Competitive Analysis  

Major players operating in the global color cosmetics market include, L’Oreal Group, Coty Inc., Krylon, Estee Lauder Companies Inc., Amyris, Inc., Avon Products, Inc., Johnson & Johnson, Revlon, and Beiersdorf.

October 2020: Amyris, Inc. partnered with Rosie Huntington-Whiteley, model turned business woman and founder of beauty commerce destination, Rose Inc., for the formation of a new company, Clean Beauty Collaborative, Inc. to further expand Amyris' presence in the clean beauty space beyond its BiossanceTM skincare and PipetteTM baby and mother care brands.