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Cosmetic Dyes (Industry) Market Size is Projected to Reach $610.1 Million by 2026| Organic Dyes is Expected to Grow at a CAGR of 6.0% During The Forecast Period

01-25-2023 03:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Cosmetic Dyes (Industry) Market Size is Projected to Reach

According to the report, the global cosmetic dyes industry was estimated at $420.3 million in 2018 and is anticipated to hit $610.1 million by 2026, registering a CAGR of 4.9% from 2019 to 2026.

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Cosmetic manufacturers are diverting their focus on product innovative due to increased competition in the cosmetic industry. These stakeholders are pouring large amount money in research and development activities to launch innovative cosmetic colours. Currently, the cosmetic manufacturers are offering wide array of shades with the help of chromium dioxides, ultramarines, iron oxides, and other types of coloring agents. The primary reason behind such extensive expenditure on research and development activities is increased spending on right colours and products by consumers for personal and professional applications.

Stringent compliance policies and implementation of quality compliances would further ensure the positioning of leading companies I the market. However, these regulatory guidelines would adversely affect local manufacturing using inorganic cosmetic dyes in their product offerings. The regional players are likely competing on the basis of distribution channel and pricing strategies. Thus, the price war between local and brand cosmetic manufacture is anticipated to reduce the overall growth of cosmetic dyes market. Currently, majority of leading companies are investing into enhancing their capacity by implementing innovative product packaging and labeling technologies. The continuous improvement in products along with strong distribution network through online sales channels would provide strong revenue opportunity in long run.

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The inorganic dyes segment to dominate by 2026-

Based on product type, the inorganic dyes segment contributed to nearlythree-fifths of the global cosmetic dyes market share in 2019 and is expected to lead the trail by 2026. The fact that inorganic pigments use chemical formulations to get the desired product properties for various applications drives the growth of the segment. The organic dyes segment, on the other hand, would register the fastest CAGR of 6.0% throughout the forecast period. This is attributed to the fact that organic cosmetics dyes are mostly handmade with natural organic ingredients like organic milk, and organic vegetable oils.

The facial make up segment to maintain the dominant share-

Based on application, the facial make up segment accounted for more than one-third of the global cosmetic dyes market revenue in 2019 and is anticipated to rule the roost till 2026. Manufacturers are working on to produce organic dyes for the facial make up products. This factor fuels the segment growth. Simultaneously, the nail products segment would portray the fastest CAGR of 6.3% by the end of 2026. Nail products such as creams and lotions are used to enhance the nails. And, rise in inclination toward enhanced products which give shine and better appearance when applied has driven the segment growth. Also, manufacturers are targeting the demand of customers by providing natural and organic dyes which are better color enhancers.

Asia-Pacific, followed by Europe and North America, garnered the major share in 2018 -

By geography, Asia-Pacific, followed by Europe and North America, garnered the major share in 2018, holding nearly two-fifths of the global cosmetic dyes market. The same region would also portray the fastest CAGR of 5.0% from 2019 to 2026. This is because the consumers in this province are more focused on products that cater to thebest skin care regimes.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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