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Mineral Cosmetics Market Scope, Share, Trends Analysis And Forecasts(2024 - 2033)
Mineral Cosmetics Market Scope
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According to The Business Research Company's, The mineral cosmetics market size has grown strongly in recent years. It will grow from $3.07 billion in 2023 to $3.32 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased health consciousness among both men and women, increased emphasis on mineral cosmetic products, increased use of natural ingredients, influence of celebrity endorsements and makeup trends, growth in popularity of cruelty-free and vegan beauty products.
The mineral cosmetics market size is expected to see strong growth in the next few years. It will grow to $4.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rising consciousness about the looks and appearance of both males and females, growing demand for multi-functioning beauty products, growing disposable incomes among the worldwide population, changing consumer tastes and preferences, increased demand for sustainable and eco-friendly products. Major trends in the forecast period include technological advancements in mineral extraction and processing, inclusion of skincare benefits in mineral makeup formulations, adoption of clean beauty standards in mineral cosmetics, use of innovative packaging materials for sustainability, collaboration between beauty brands and influencers.
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Market Drivers and Trends:
The increasing preference for organic and natural beauty products is expected to propel the mineral cosmetics market going forward. Organic beauty products are manufactured from plant-based materials that are grown without the use of fertilizers or pesticides. They do not contain genetically engineered substances and are free of petrochemicals. The use of organic and natural beauty products is increasing due to their advantages, such as being safe for the skin, nutrition-rich, more effective, and sustainable. For example, according to annual Organic Beauty and Wellbeing Market report, by Soil Association, in 2021, the sales of Soil Association certified organic and natural beauty and wellbeing products in UK grew by 15%, reaching €164 million (USD170 million). Therefore, an increasing preference for organic and natural beauty products is driving the demand for the mineral cosmetics market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Glo Skin Beauty, L'Oréal SA, Mineralissima Cosmetics BV, Revlon Inc., Shiseido Company Limited, Clariant AG, ECKART GmbH, Merck & Co. Inc., BASF SE, Neelikon Food Dyes & Chemicals Ltd., Estée Lauder Companies Inc., Nardo's Naturals Inc., National Mineral Development Corporation, Lady Burd Cosmetics Inc., Radical Cosmetics LLC, Audrey Morris Cosmetics International, MANA Products Inc., Pinnacle Cosmetic Packaging Llc, Avon Products Inc., Procter & Gamble Company, Unilever plc, Oriflame Holding AG, Kao Corporation, Bare Escentuals Beauty Inc., Colorescience Inc., Youngblood Mineral Cosmetics LLC, Pacifica Beauty LLC, RMS Beauty LLC, W3LL People Inc., Au Naturale Cosmetics Inc., Inika Organic Pty Ltd.
Mineral Cosmetics Market 2024 Key Insights:
• The mineral cosmetics market size is expected to see strong growth in the next few years. It will grow to $4.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Rising Preference For Organic And Natural Beauty Products Boosts Mineral Cosmetics Market
• Product Innovation Drives Mineral Cosmetics Market Growth
• North America was the largest region in the mineral cosmetics market in 2023
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