Cosmetic pigments Market to Grow with a CAGR of 6.82% through 2028
Surge in research and development activities is
expected to drive the Global Cosmetic Pigments Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Cosmetic
pigments Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Cosmetic Pigments Market
stood at USD672.18 million in 2022 and is anticipated to grow with a CAGR of 6.82%
in the forecast period, 2023-2028. The initiatives taken by government based on
cosmetic pigments has led to favorable market conditions for the Global
Cosmetic Pigments Market. Several factors contribute to the growth of various cosmetic
pigments products.
In the United States, color additives utilized in
cosmetics undergo a rigorous approval system as mandated by the Federal Food,
Drug, and Cosmetic Act (FD&C Act). This meticulous process ensures that
only color additives that are deemed safe and approved are permitted for use in
cosmetic products, prioritizing consumer safety and well-being.
Governments worldwide are actively encouraging the
adoption of algae-based pigments due to their exceptional environmentally
friendly properties. These sustainable pigments not only offer vibrant and
diverse color options for various applications, including cosmetics, but also
contribute to the reduction of harmful environmental impacts. It is projected
that the algal pigments market, encompassing the cosmetic pigments industry,
will witness significant growth and is estimated to reach a value of $669.8 million
by the year 2030, showcasing the increasing demand and recognition for
eco-friendly alternatives.
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Research and development are of utmost importance in
driving the growth of the cosmetic pigments market. These crucial activities
not only facilitate the creation of innovative pigment types and formulations
but also enable cosmetic manufacturers to effectively cater to the
ever-evolving consumer demands for safer, more effective, and aesthetically
pleasing cosmetics.
Through continuous innovation in cosmetic pigments,
remarkable progress has been made in developing products with enhanced
properties. These advancements include superior color strength, improved
texture, and enhanced skin adhesion. Such cutting-edge developments have
significantly contributed to the rising demand for cosmetic pigments, further
propelling the expansion of the market. By continuously pushing the boundaries
of possibility, the industry continues to thrive and meet the evolving needs
and expectations of consumers worldwide.
The Global Cosmetic Pigments Market is segmented into elemental
composition, type, application, regional distribution, and company.
Based on its elemental composition, the inorganic
pigments segment held the largest share in the market. Metal compounds,
including oxides, serve as prime examples of inorganic pigments. Take, for
instance, titanium oxide, a widely used inorganic pigment that falls under the
category of opaque white pigments. These pigments play a crucial role in
imparting opacity to other colors and lightening them. However, it's important
to note that the color depth of inorganic pigments is relatively lower than
that of organic pigments. Considering its widespread application in cosmetic
pigment production, titanium dioxide is in high demand, serving as an
indispensable component across all cosmetic pigment types. Its versatility and
indispensability make it a staple choice for various cosmetic pigment
applications.
Based on region, Europe segment is expected to grow
during the forecast period.
The market for cosmetic pigments in Europe is
expanding rapidly due to various factors. The increasing urbanization, coupled
with a growing awareness of personal grooming, has contributed to this trend.
Moreover, the value placed on looking presentable and the influence of
worldwide trends like resource concern, individualization, and digitization
have also played a significant role in the market's growth. In 2022, Europe led
the market with a substantial share of about 35%, indicating its dominant position
in the industry.
Interestingly, Europe boasts over 20,000 businesses
operating on the wholesale side of the cosmetics industry, with countries like
Italy, Spain, and France taking the lead. A recent survey conducted by
Cosmetics Europe revealed that a whopping 88% of people find it difficult to
live without cosmetics. Specifically, 33% of women expressed their reliance on
foundation or concealer, while 25% of men admitted that they find it difficult
to live without aftershave. These findings further highlight the strong demand
and dependency on cosmetic products in the market.
Overall, the market for cosmetic pigments is
experiencing significant growth, driven by consumer preferences, evolving
trends, and the increasing importance placed on personal grooming and
appearance.
Major companies operating in Global
Cosmetic Pigments Market are:
- Carl Schlenk AG
- Clariant International Ltd.
- Couleurs de Plantes
- ECKART GmbH
- Elemental SRL
- Geotech International B.V.
- Kobo Products Inc.
- Koel Colours Pvt Ltd.
- LANXESS AG
- Merck KGaA
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“Growing application of cosmetic pigments in various
end user industries are key drivers of the cosmetic pigments market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of cosmetic pigments with every
passing year are anticipated to register an impressive growth to Global
Cosmetic Pigments Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Cosmetic pigments Market By
Elemental Composition (Organic Pigments and Inorganic Pigments), By Type
(Special Effect Pigments, Surface Treated Pigments, Nano Pigments, Natural
Colorants), By Application (Facial Makeup, Eye Makeup, Lip Products, Nail
products, Hair Color Products, Special Effect & Special Purpose Products,
Others), By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Cosmetic Pigments Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Cosmetic
Pigments Market.
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