Cosmetic Pigments Market Industry is Expected to at a Considerably High CAGR From 2023 to 2030 |
The global cosmetic pigments market size is expected to expand rapidly because of the aesthetic appeal offered by cosmetic pigment products. Itsrising adoption in the entertainment, fashion, and facial care industry can elevate the market growth. Fortune Business Insights™ mentions this information in its report titled “Cosmetic Pigments Market, 2023-2030.”
Cosmetic pigments are extensively used for makeup as it offers a pleasant look to the consumers. It is available in various shades such as matte, glossy, metallic, white pigment, shiny, and natural. It is used in makeup products such as eye shadows and lipsticks. Cosmetic pigments are also used for facial make-up by consumers to enhance their beauty. Furthermore, the rapidly progressing entertainment and fashion industry is responsible for attracting significant product demand. In addition, the increasing adoption of makeup products in fashion shows and movie productions facilitate the demand for cosmetic pigments. Thus, this factor is responsible for driving the market growth for the foreseeable period.
Impact of COVID-19
Restrictions on Chemical Production to Slump Market Growth
This market is negatively affected during the COVID-19 pandemic due to the restrictions against manufacturing activities of cosmetic pigments. The government’s stringent norms have prohibited manufacturing activities because of the alarming spike in COVID-19 patients worldwide. However, companies have granted half-time and reduced capacity to workers to recover costs. In addition, the manufacturing facilities use safety measures such as sanitization, social distancing, and the use of medical gear during shifts to adhere to the government’s regulations.
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Based on type, the market is segregated into natural colorants, special effect pigments, nano pigments, and surface-treated pigments. On the basis of application, it is divided into eye makeup, facial makeup, nail products, lip products, special effect & special purpose products, hair color products, and others. Geographically, it is divided into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report provides an analysis of the leading segments and the latest market trends. It conducts a comprehensive analysis of the impact of COVID-19 and the driving and restraining factors. Additionally, it studies the strategies implemented by the market’s prominent players and the regional developments.
Drivers and Restraints
Strong Demand for Makeup Products to Foster Market Growth
Cosmetic pigments are used to manufacture cosmetic products such as compact makeup kits, foundations, and lipsticks. Face makeup is a major consumer of cosmetic pigment products as titanium oxide, and other chemicals are used to enhance the skin’s appearance and eliminate imperfections. Consumer awareness to look good is likely to boost cosmetic pigment’s demand. In addition, it is used in hair colors to enhance the hair’s visual appeal. It is in high demand in South Korea due to the population’s awareness to look good. Therefore, the product’s adoption in several makeup products is predicted to drive the cosmetic pigments market growth.
However, the government’s stern rules on personal care products are likely to hamper the market growth.
Robust Demand for High-Quality Products to Stimulate Market Growth in Europe
Europe is projected to dominate the cosmetic pigments market share due to strong demand for high quality. In addition, demand for surface treatment and pigment dispersion products is likely to bolster market growth.
In North America, the adoption of inorganic and organic cosmetic pigments in beauty and grooming products is expected to elevate the market growth. The prevalence of beauty care product manufacturers is likely to augment market growth.
In Asia Pacific, consumer’s rising awareness for cosmetic pigments products is likely to surge the market’s growth.
Launch of Novel Products by Prominent Players to Magnify their Product portfolio
The prominent players of the competitive market are launching novel products using advanced technologies to enhance cosmetic pigment’s quality. This strategy shall enable the companies to expand their product portfolio. Companies are undertaking the acquisition of major players to enhance their reach in the global market. Furthermore, the company’s heavy investment in research and development activities is likely to enhance its product’s quality, which, in turn, can boost the company’s brand image.
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- June 2019: BASF partnered with siHealth Ltd to sell optronic solutions and scientifically based satellites to the global personal care industry. This strategic partnership can enhance BASF’s product quality and encourage the adoption of innovative technology.
List of Key Players Profiled in the Cosmetic Pigments Market Report
- Sun Chemical
- Sensient Cosmetic Technologies
- Kobo Products
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