Cosmetic pigments market to cross $1 billion by 2026 | Key players are Sun Chemical, BASF, Sudarshan, Kobo Products, Clariant, Geotech, Lanxess, Koel Colors, Li Pigments, Huntsman

Europe cosmetic pigments market, led by Italy, held a major share taking into account the intensifying cosmetic production in the region. Cosmetic pigment suppliers are focused on new product launches, mergers, and acquisitions to gain a competitive and extend their offerings globally. Kobo Products, Merck Performance, Sun Chemicals, BASF, Sudarshan Chemical, Huntsman, Sensient Cosmetic, Lanxess Corporation, Geotech, and Clariant are some of the prominent companies in the sector.

Asia Pacific contributed over USD 165 million in yearly revenues in 2019 for regional cosmetic pigments market. The cosmetics industry in the region is estimated to record more than USD 140 billion in valuation over the coming years. The growth can be attributed to the rise in multifunctional properties as a result of product innovations incorporated by various brands, as well as the expanding disposable income and changing consumer lifestyles.

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Cosmetic pigments find extensive usage personal care products as they impart color, glitter, luster, and shine while rendering attributes such as glow and texture improvement. Consistent adoption in facial make-up, eye make-up, lip care, hair care products, and nail care will augment the demand for the pigments in the coming years.

This is due to the high potential of the chemical to incorporate significant visual appeal by formulations in products like eye makeup and lipsticks. There is a rising consumption of skincare products resulting from inclining consumer requirements to enhance the natural skin tone. Global expansion of the geriatric population along with their growing preference for maintaining youthful looks will boost the cosmetic pigment market value.

Cosmetic pigments are widely utilized in nail lacquer and nail paints to ensure rich nail coating and alteration of the base color, and the market value from the nail care application is pegged to register a 5% CAGR through 2026. Demand for nail care products is anticipated to reach USD 11 billion annually up to 2022 considering the inclination for nail designing and social gathering in the younger population.

Emergence of online retail platforms is likely to attract numerous business opportunities across the region. Enlarging working woman population and magnified grooming demand for men will also bolster the product consumption. The ongoing COVID-19 pandemic is urging local cosmetic pigment manufacturers across the APAC region to come up with innovative strategies to extend their offerings to a larger consumer base.

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Growth Drivers:

North America: Increasing Demand for Cosmetic Pigments in Personal Care Products

Europe: Enhancing demand for High-Performance and Specialty Pigments to spur overall market growth

Asia Pacific: Growing Fashion And Entertainment Industry will Boost Cosmetics Demand

There is a surge in consumer awareness for personal grooming and an inclining demand for male cosmetics products. This along with significant R&D investments facilitated by manufacturing firms is leading to technological developments in cosmetic ingredients. Reportedly, the global cosmetic pigments market size will reach over USD 1 billion with regard to annual remuneration by 2026.

Nano pigments, in combination with titanium dioxide, zinc oxide, and carbon are used to produce sunscreens and decorative makeups as they exhibit superior hiding properties. The cosmetic pigments market demand will be further driven by the surging need by cosmetics manufacturers to offer unique and attractive products to cater to rising consumer requirements. Nano cosmetic pigments industry share is slated to show a CAGR of 4% up to 2026 owing to the extensive use of the material to change the color reflected light through selective absorption, besides transmitting color to the medium of dispersion.

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https://www.prnewswire.com/news-releases/cosmetic-preservatives-market-valuation-to-exceed-1-25-billion-by-2026–says-global-market-insights-inc-301060587.html

https://www.globenewswire.com/news-release/2017/06/28/1029863/0/en/Personal-Care-Ingredients-Market-will-surpass-12bn-by-2024-Global-Market-Insights-Inc.html

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