Color Cosmetics Market to grow at a CAGR of 7.4% till 2023

Rise in disposable income and financial independence of working women are expected to boost the market growth.

The global Color Cosmetics Market was valued at $5,875 million in 2016 and is projected to reach at $9,555 million by 2023, registering a CAGR of 7.4% from 2017 to 2023. The global color cosmetics market is driven by rise in the disposable income in emerging economies such as, India, Brazil, UAE, Saudi Arabia, Africa, and Egypt. Moreover, financial independence of working women influences the market to a large extent. In addition, increased awareness about external appearance fuels the market growth.

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Asia-Pacific is expected to witness the highest growth rate in the global market, owing to the high demand from the emerging economies such as India, China, Indonesia, and others. In addition, growth in monetary independence of working women is expected to increase the demand for color cosmetics. Moreover, increased disposable income, rise in standard of living, and growth in awareness about appearance boost the market growth in the Asia-Pacific region.

Key Findings of the Color Cosmetics Market:

Asia-Pacific is expected to maintain its dominant position in the global market during the forecast period, followed by Europe. The mass products segment generated the highest revenue in 2016, and is projected to grow at a CAGR of 7.9% during the forecast period. The facial make up segment dominated the global market accounting for approximately two-fifths share. LAMEA accounted for approximately one-eighth share of the global market in 2016. The Asia-Pacific color cosmetics market is anticipated to grow at the highest CAGR of 7.6%. North America accounted for approximately one-fourth share in the global market, and is expected to grow at a CAGR of 7.1%.

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Key Players of the Color Cosmetics Market:

The key players of the Color Cosmetics Market are Unilever N.V., LOreal Group, Avon Products, Inc., The Este Lauder Companies Inc., Kryolan Professional Make-Up, Shiseido Co. Ltd., Chantecaille Beaute Inc., Coty Inc., Ciat London and Revlon Inc.

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