Portland, OR, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Cosmetic Pigments Market by Composition (Inorganic Pigments, Organic Pigments), by Type (Surface Treated Pigments, Nano Pigments, Special Effect Pigments, Others), by Application (Facial Makeup, Eye Makeup, Lip Makeup, Hair Dye and Hair Coloring, Nail Care, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global cosmetic pigments market generated $2.1 billion in 2022, and is anticipated to generate $4.5 billion by 2032, witnessing a CAGR of 7.8% from 2023 to 2032.
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Prime Determinants of Growth
Increasing demand for essential cosmetics products such as foundations and compacts is expected to drive the growth of the global cosmetic pigments market in the forecast period from 2023 to 2032. However, stringent rules limiting the use of certain cosmetic pigments may hamper the cosmetic pigments market growth in the coming future. On the contrary, consumer demand for environmentally friendly and sustainably produced compounds in cosmetic and personal care items is expected to offer remunerative opportunities for the expansion of the cosmetic pigments market during the forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.1 billion |
| Market Size in 2032 | $4.5 billion |
| CAGR | 7.8% |
| No. of Pages in Report | 295 |
| Segments covered | Composition, Type, Application, and Region |
| Drivers | Growing consumer acceptance of changing fashion trends around the world Increasing customer demand for cosmetics that match their natural skin tone |
| Opportunities | Increased collaboration, agreements, and joint ventures between cosmetic pigment manufacturers The growing application of new methods and technological developments such as pigment dispersion |
| Restraints | Maintaining the consistency of cosmetic pigments for mass-market products |
COVID-19 Scenario
- The outbreak of the COVID-19 pandemic has had a significant impact on the growth of the global cosmetic pigment market. The pandemic caused disruptions in worldwide supply chains, disrupting the availability and delivery of cosmetics and raw materials. This hampered the operations of cosmetic pigment firms, creating manufacturing delays.
- Moreover, during lockdowns, many shops, including cosmetic stores, were temporarily closed or had limited operations. This has a direct impact on the sale of cosmetics, especially those containing pigments.
- However, e-commerce became an essential channel for cosmetic sales during the pandemic. Cosmetic brands with a strong internet presence were more likely to reach customers.
Composition: Inorganic Pigments Sub-segment to Hold Highest Share by 2032
The inorganic pigments sub-segment of the global cosmetic pigments market accounted for the highest share of 63.9% in 2022 and is projected to dominate the market during the forecast period. The prominent growth of the sub-segment is mainly because inorganic pigments are usually employed in cosmetics when color stability and safety are important. They are well-known for their durability, resistance to fading, and wide range of color options.
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Type: Surface Treated Pigments Sub-segment to Hold Majority of Market Share by 2032
The surface treated pigments sub-segment accounted for the highest share of 42.3% in 2022 and is projected to dominate the market during the forecast period. The significant growth of the surface treated pigments sub-segment is mainly because surface treatment helps to avoid pigment deterioration caused by light, moisture, heat, and chemical interactions.
Application: Facial Makeup Sub-segment to be the Most Dominant During the Forecast Period
The facial makeup sub-segment accounted for the highest share of 38.8% in 2022 and is anticipated to dominate the market during the forecast period. The prominent growth of the sub-segment is mainly due to increased demand for core cosmetic products, including foundations, face powders, and blushers.
Region: Asia-Pacific Market to Grab Highest Share by 2032
The cosmetic pigments market in the Asia-Pacific region accounted for the highest share of 41.4% in 2022 and is expected to dominate the global market during the forecast period. This growth is mainly because of the region's significant use of skin-whitening procedures, which fuels the demand for cosmetic pigments.
Leading Players in the Cosmetic Pigments Market:
- Merck
- Sun Chemical
- SENSIENT COSMETIC TECHNOLOGIES
- BASF SE
- DIC Corporation
- NEELIKON
- Lanxess
- Sudarshan Chemical
- Clariant
- Koel Colors
The report provides a detailed analysis of the key players of the global cosmetic pigments market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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