Color Cosmetics Market to Experience Exponential Growth by 2023 with Top Key Players- Unilever N.V., LOreal Group, Avon Products, Inc., The Este Lauder Companies Inc.
According to a new report published by Allied Market Research, titled, Color Cosmetics Market by Target and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, 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.Access Full Report Summary at: https://www.alliedmarketresearch.com/color-cosmetics-market?utm_source=OpenPR_V
Color cosmetics are beauty products used to enhance the external appearance of a human body. These cosmetics are made up of chemicals and natural ingredients such as secretions, pearl powder, ground bamboo, seaweed, venom, Tremella mushrooms, and starfish extract. Color cosmetic products include facial make up product, nail care product, eye make-up product, and lip care products.
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.
In 2016, the mass product segment accounted for the highest share in the market, and is expected to maintain its dominance during the forecast period, owing to ease of availability and affordability. Moreover, increased innovations in mass products segment, such as anti-aging cream and UV protection lotions, drive the market growth.
The global color cosmetics market is segmented based on target market, application, and geography. Based on target market, it is classified into prestige products and mass products. The mass products segment is anticipated to dominate the global color cosmetics market during the forecast period, owing to the innovation and affordability. However, the prestige products segment is estimated to witness the highest growth rate. Based on application, it is categorized into facial make up, lip products, eye make up, and nail products. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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%.
Asia-Pacific and LAMEA collectively contributed about 50% share of the global market in 2016.
The key players operating in the global 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.
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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