Cosmetic Pigments Market worth $1,019 million by 2024 | Key Players include Sun Chemical, Sensient Cosmetic Technologies, Merck, BASF, ECKART, Sudarshan, Kobo Products, Clariant and Geotech

According to recent market research "Cosmetic Pigments Market by Composition (Organic, Inorganic), Type (Special Effect, Surface treated, Nano), Application (Facial Makeup, Eye Makeup, Lip Products, Nail Products, Hair Color Products), and Region - Global Forecast to 2024", MarketsandMarkets: The cosmetic pigments market is projected to grow from USD 698 million in 2019 and expected to reach USD 1,019 million by 2024, at a CAGR of 7.9%.

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Cosmetic pigments mostly are used in numerous facial makeup products. The increasing demand for root makeup products such as foundations and face powders is expected to drive the market in this application segment.

The cosmetic pigments market is witnessing significant growth globally due to the increasing demand for better quality cosmetic products, easy availability of products, new pigment launches in various types, a growing number of working women, and rising disposable income in the emerging markets such as APAC and South America.

The rise in GDP of emerging economies such as China, India, and Brazil are expected to improve the standard of living in these countries. With the increase in income level and improvement in consumer lifestyle due to the acceleration of urbanization, the demand for cosmetic and personal care products is expected to witness significant growth. Currently, several big players in the cosmetic pigments market are focusing on organic growth strategies. They are shifting their focus to developing economies (such as India and China) to gain more market share.

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The market size of cosmetic pigments is estimated at USD 698 million in 2019 and projected to reach USD 1,019 million by 2024, growing at a CAGR of 7.9%. The global cosmetic pigments market is driven by the growing demand from color cosmetic and personal care applications. Increased need for product differentiation and growing awareness about the improved appearance of products are boosting the market.

Cosmetic pigments are used in the production of cosmetic colors, along with various other ingredients. A pigment is a colored or colorless insoluble chemical compound, that gives an added richness of color to the product. Most cosmetic and personal care products use fine dry powdered cosmetic pigments. Pigments used for manufacturing color cosmetic products are termed as cosmetic pigments. Pigments are classified into organic and inorganic based on their chemical composition.

The key players in the cosmetic pigments market include Sun Chemical (US), Sensient Cosmetic Technologies (France), Merck (Germany), BASF (Germany), ECKART (UK), Sudarshan (India), Kobo Products (US), Clariant (Switzerland), and Geotech (Netherlands). The cosmetic pigments market report analyzes the key growth strategies adopted by the leading market players between 2013 and 2019, which include expansion, new product launch, and merger & acquisition.

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Sun Chemical (US) is a member of the DIC group that manufactures and supplyies printing inks, coatings & supplies, pigments, polymers, liquid compounds, solid compound, and application materials. It is one of the leading players in printing inks, coatings, supplies for the packaging, and digital markets. The company is involved in providing quality pigments at competitive prices for the cosmetic industry. It is planning to move swiftly to maximize synergies between the local partner's marketing capabilities, which will reflect its familiarity with the domestic market. The company is focusing on organic growth strategy by innovating new products to increase its portfolio, which helps in enhancing the presence of the company in various fields to gain a competitive advantage over other companies. For instance, in February 2019, the company introduced its new SpectraFlex illusion pigments for soft-focus effects. SpectraFlex Illusion soft-focus effect pigments are used in daily wear makeup primers to help optically blur fine lines and other imperfections.

Sensient Cosmetic Technologies (France) is a unit of Sensient Technologies Corporation, which is a global manufacturer and marketer of flavors & fragrances, colors, cosmetic & pharmaceutical systems, specialty inks & colors, inkjet, and other specialty chemicals. Sensient Cosmetic Technologies is a leading producer and supplier of high-performance colorants and innovative ingredients for makeup, skincare, hair care, personal hygiene, oral care, and fragrance. The company has been one of the leading cosmetic pigments manufacturers, especially organic pigments. The company has adopted a strategy of expanding its production capacity and product line up. It is focusing on its organic pigment and surface treated pigments segments. The company offers a wide range of pearls that are used in manufacturing many cosmetic formulations. All its pigments are either Cosmos grade or Ecocert grade certified.

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