Cosmetic Dyes Market worth $366 million by 2023 | Key players Clariant (Switzerland), DyStar (Singapore), Neelikon (India), Chromatech (India), Pylam (US), Organic Dyes and Pigments (US).

According to recent market research the "Cosmetic Dyes Market by Type (Natural and Synthetic Dyes), Application (Facial makeup, Eye makeup, Hair color, Lip products, Nail products, Toiletries), and Region (Europe, North America, APAC, South America, and MEA) - Global Forecast to 2023" The Cosmetic Dyes Market is projected to grow from USD 280 million in 2018 to USD 366 million by 2023, at a CAGR of 5.5%, from 2018 to 2023. The global cosmetic dyes market is driven by the increasing use of cosmetic dyes in the cosmetics and personal care products. The use of cosmetic products, such as foundations, eyeliners, lipsticks, blushers, and nail polishes are increasing. This is driving the cosmetic dyes market since cosmetic dyes is an essential ingredient of these products. However, stringent regulatory policies restrain the growth of cosmetic dyes market.

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The market in the hair color products application segment is projected to register a higher CAGR during the forecast period. The hair coloring industry is growing as people are willing to experiment with their hair color. The major reason for people choosing hair coloring is for covering of grey hair and because colored hair is regarded more fashionable. There are different types of hair coloring, namely permanent, demi-permanent, semi-permanent, temporary color, and alternative color. Permanent coloring is done for getting permanent color using oxidation. Demi-permanent coloring uses color that have alkaline agents other than ammonia. Changing trends in cosmetic industry, increasing millennial population, rising urbanization, growing youth population in emerging economies, and rising standard of living of people are boosting the cosmetic dyes market in the hair color application.

Synthetic dyes are expected to account for the largest share, in terms of value as well as volume, of the cosmetic dyes market in 2018. This trend is projected to continue during the forecast period, owing to the easy production method, low cost, and easy application process of synthetic dyes, which makes the synthetic dyes suitable for cosmetic applications, thereby, fueling the cosmetics dyes market. Synthetic dyes are mainly used for a wide range of shades; brightness; and vibrancy.

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APAC is the fastest-growing cosmetic dyes market owing to high consumption of dyes in the hair color products application. The high economic growth rate, growing manufacturing industries, cheap labor, and the global shift of the consumption and production capacity from the developed markets to the emerging markets are a few factors leading to the growth of the cosmetic dyes market in APAC. Most of the global companies are focusing on R&D and distribution networks in this region. China, India, Japan, and South Korea are some of the key cosmetic dyes markets in the region.

The key players in the cosmetic dyes market include Sensient Cosmetic Technologies (France), Clariant (Switzerland), DyStar (Singapore), Neelikon (India), Chromatech (India), Pylam (US), Organic Dyes and Pigments (US), Koel Colours (India), Aakash Chemicals and Dyestuffs (US), and Goldmann Group (Germany). These players have established a strong foothold in the market by adopting strategies, such as expansion, new product launch, and merger & acquisition.

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Sensient Cosmetic Technologies is among the key players in the cosmetic dyes market, who have adopted both organic and inorganic strategies, such as new product launch, expansion, and merger & acquisition. Sensient Cosmetic Technologies is a unit of Sensient Technologies Corporation, which is a global manufacturer and marketer of flavors and fragrances, colors, cosmetic and pharmaceutical systems, specialty inks and colors, inkjet, and other specialty chemicals. The company offers a wide range of dyes that are used in the manufacturing several cosmetic formulations including facial makeup, lip products, hair dyes, eye products, and toiletries. It has adopted a strategy of expanding its production capacity and product lineup. It is focusing on its cosmetic dyes offering through its color business. In 2014, Sensient Cosmetic Technologies announced the expansion of its current production site in Saint Ouen L'Aumône, France. This expansion helped the company to increase its production capacity that will help it to meet the increasing demand for cosmetic dyes from cosmetics and personal care industries. The company has also decided to dedicate more resources to its R&D to develop a global center of expertise for cosmetics.

Clariant leads the cosmetic dyes market. It is one of the leading chemical companies, globally. The company operates through four business segments, namely, care chemicals, catalysis, natural resources, and plastics & coatings. They are further segmented into several units, such as industrial & consumer specialties, catalysts, oil & mining services, functional minerals, additives, masterbatches, and pigments. The company targets the APAC region by making an investment and opening new manufacturing plants for dye and pigments. Through its new plant in Roha, India, the company is strengthening its presence in the Asian market. In 2018, Clariant launched a durable magenta shade for the cosmetic industry. The New Sanodye Magenta LF combines red and blue in a non-bleeding single dye formulation. Sanodye Magenta LF exhibits good dye bath stability and enables a stable dyeing process.

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