Color Cosmetics Market Size is Expected to Expand at 5% CAGR in 2031 | Future Market Insights

The colour cosmetics industry is estimated to expand at a CAGR of 5%. By 2031, Sales for natural and organic colour cosmetics and facial makeup products will still be rising, resulting in colour cosmetic sales that will surpass US$ 50 billion by that year.

Sales of colour cosmetics have exploded thanks to the expansion of distribution channels and the increasing penetration of social media platforms. Additionally, it is anticipated that the growing demand for cruelty-free cosmetics will drive sales of vegan colour cosmetics throughout the course of the projection period.

The market for colour cosmetics will benefit from the rising demand for environmentally friendly cosmetics and the incorporation of cutting-edge technology like artificial intelligence.

Leading colour cosmetic companies like L'Oreal and others are incorporating AI to improve the visualisation and comparison of thousands of cosmetic colour options.

Besides this, key players are investing extensively in research activities to include organic and natural color cosmetics such as face and eye makeup products in their portfolio. This is expected to bode well for the market.

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As per FMI, facial make-up segment is expected to remain dominant in the global color cosmetic market during the forecast period.

Key Takeaways from FMI's Color Cosmetics Market Study

Based on product type, natural & organic color cosmetic segment will account for nearly 49.9% of market share over the next five years.
In terms of product category, sales in the eye makeup segment will total US$ 15 Bn by 2026
In terms of price, premium color cosmetic segment is expected to account for over 60% of global market share
China and South Korea are expected to spearhead the growth across East Asia color cosmetic market
Supermarkets are expected to remain the preferred distribution channel in the color cosmetics market, however, sales via e-commerce are expected to pick up at a higher pace
The U.S. is expected to dominate the North America color cosmetic market, with sales of color cosmetics across North America surging at 2% CAGR through the assessment period.
Competitive Landscape

As per FMI, top players are expected to account for over 30%-35% of global market share in 2021. Presence of numerous leading players in the market have led to intense competition. In order to gain competitive edge, key players are collaborating with social media influencers and e-commerce giants.

Also, some of the manufacturers are introducing new products under the clean-label category in order to capitalize on surging demand for organic and natural color cosmetic products. They are also investing in research and development activities to develop products with extended shelf-life.

Some of the key players profiled by Future Market Insights are L'Oréal SA, LVMH (Moet Hennessey Louis Vuitton), Estee Lauder Companies Inc., Revlon Inc., Shiseido Co. Ltd., Chanel S.A., Coty Inc., Mary Kay Cosmetics, Amway Cosmetics, Kose Corporation, and Others.

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Color Cosmetics Market by Category

Product Type:

Chemical
Natural & Organic
Distribution Channel:

Hypermarket/ Supermarket
Convenience Store
Specialty Store
Direct Selling
e-Commerce

Price:

Economic
Premium

Product Category:

Nail Products
Facial Makeup
Eye Makeup
Lip Products
Hair Colour Products
Special Effects Products

Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan
Middle East & Africa
Japan

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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