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Color Cosmetics Market worth 77.7 Billion USD by 2020
This report "Color Cosmetics Market by Target Market (Prestige products and Mass products), by Application (Nail products, Lip products, Eye Make-up, Facial Make-up, Hair Color Products, Special Effects Products, and Others ) and Geography - Regional Trends & Forecasts to 2020", defines and segments the color cosmetics market with an analysis and forecast of value and demand of prestige products and mass products. It also identifies the driving and restraining factors for the color cosmetics market with an analysis of trends, opportunities, and challenges.
Browse 63 tables and 46 figures spread through 156 Pages and in-depth TOC on "Color Cosmetics Market by Target Market (Prestige products and Mass products), by Application (Nail products, Lip products, Eye Make-up, Facial Make-up, Hair Color Products, Special Effects Products, and Others ) and Geography - Regional Trends & Forecasts to 2020"
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Color cosmetics refer to the colorants and cosmetic ingredients that are used for make-up, personal hygiene, skin care, hair care, fragrance, and oral care. The color cosmetics are identified on the basis of their target market that is prestige products and mass products. The prestige products offer intensive care and better results than the mass products but are slightly expensive than the mass products. However, the inclination of the consumers towards prestige products is projected to increase in the next five years. The color cosmetics market has wide applications such as nail products, lip products, eye make-up, facial make-up, hair color products, and others. The consumer demand for color cosmetics is projected to witness growth due to progressive category innovations and the consumers’ willingness to experiment.
The market segmentation and value forecast is made on the basis of key regions, which are North America, Europe, Asia-Pacific, and Rest of the World (RoW). Further, the market is segmented and the demand and value are forecasted on the basis of important applications of the color cosmetics.
The color cosmetics market was valued at USD 57.4 Billion in 2014. It is projected to reach USD 77.7 Billion in 2020 with a CAGR of 5.7%. The market will be dominated by players such as LO’real Group, Avon Product Inc., Coty Inc., Krylon, and Estee Lauder Companies Inc.
Rising demand for nail products and face make-up to drive the color cosmetics market in the U.S. and Europe
The U.S. color cosmetics products are growing due to continuous technological innovations, developing fashion trends, and immature markets for some products. Nail polish and BB creams registered the highest growth in the U.S. between 2012 and 2014 due to advances in technology with major developments in highlights including gel nail polishes which have gained immense popularity. The convenience and ease of use provided by the BB creams has driven their demand in the color cosmetics market of the U.S.
In the U.K., the prestige products play a significant role in driving the demand for color cosmetics. The U.K. is projected to register around 30% of all growth in the region’s prestige color cosmetics market sales between 2010 and 2015.
High color cosmetics demand in developing regions, such as Asia-Pacific and RoW
In Asia-Pacific, the Indian color cosmetics market is projected to register more than 20% growth by 2020 mainly due to rising consumer awareness and changing lifestyles amongst the India’s booming population. The Indian color cosmetics industry is projected to witness a shift from traditionally dominating existing domestic market players to international market players by 2020. Another reason for the growth of color cosmetics market in India is that the people are becoming more beauty conscious due to increased access to branded goods, and the increasing number of women workers who are enjoying increasing economic power and financial independence.
The color cosmetics market is registering a substantial growth in South Africa and is projected to register high CAGR in next five years. Avon Products Inc. is one of the major color cosmetic companies in South Africa which has experienced significant increase in its sales since 2012.
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