NEWARK, Del., Feb. 27, 2024 (Globe Newswire) — The color cosmetics market is 54.772 billion USD The market is expected to rise rapidly in 2024. CAGR 4.8% Market value is predicted to increase until 2034 87.916 billion USD By 2034.
The fashion industry is constantly evolving, with new trends emerging each season. As a result of the evolution, new cosmetic products have been launched to meet the changing needs of consumers.
The rise of e-commerce platforms has made it easy for consumers to access a wide range of cosmetic products from the comfort of their homes. This platform has led to increased competition among cosmetics brands, resulting in new and innovative products being launched at competitive prices. This further increases the demand for color cosmetics as consumers are always looking for the latest and greatest products.
The increasing disposable income of consumers around the world is stimulating sales of color cosmetics. Additionally, the growing popularity of social media platforms is also contributing significantly to the increase in demand for color cosmetics. Social Media His platform has increased awareness of beauty products and further increased the demand for color cosmetics. Beauty influencers on social media platforms play an important role in promoting various cosmetic products, leading to a surge in demand.
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The increase in the number of working women is also contributing to the growth of the color cosmetics market. As women advance into society, the need for cosmetics that meet women's needs is increasing. Nowadays, women want products that are long-lasting, easy to use, and provide flawless results.
“The growing demand for organic and natural cosmetics presents a great opportunity for manufacturers to invest in research and development of safer and healthier products. As awareness increases, the demand for organic products is increasing, creating an opportunity for manufacturers to meet the growing demand and expand their market share.” To tell Sneha VergheseSenior Consultant, Consumer Goods and Products, Future Market Insights.
Key points from the color cosmetics market
- The color cosmetics market is estimated to register a CAGR of 4.8% and reach a valuation of USD 87,916 million by 2034.
- The natural and organic sector dominates the global market and is expected to account for 64.3% share in 2024.
- The e-commerce segment is expected to account for 31.8% market share in 2024.
competitive environment
As new brands enter the market and existing players introduce innovative products, companies are competing on several factors such as quality, brand recognition, and pricing. Additionally, the proliferation of e-commerce has made it easier for new entrants to enter the market and compete with established brands.
major market players
- chanel
- dior
- Givenchy
- loreal sa
- kuroiran professional makeup
- lancome
- mama earth
- Tom Ford SA
- plum
- Coty Co., Ltd.
- maybelline new york
- Yves Saint Laurent
- PAC cosmetics
- lebron group
- NYX professional makeup
- Shiseido Co., Ltd.
- sephora
- rimmel london
- Laura Mercier
- julep beauty
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recent trends
In 2022, Revlon, the famous cosmetics brand, recently opened a new store in Delhi, India that offers an immersive and experiential shopping experience to its customers. The store carries a wide selection of Revlon's color cosmetics, skin care, and personal care products, as well as a selection of Revlon's professional and streetwear products. The flagship store also offers a full range of hair and makeup services provided by seasoned professionals, including hair coloring using the Revlon Professional line, hair care, hair cuts, hair styling, party makeup, and basic grooming.
Major market segments
By product type:
- chemicals
- natural & organic
By price:
By product category:
- nail products
- facial makeup
- eye make up
- lip products
- hair color products
- special effects products
By distribution channel:
- Hypermarket/Supermarket
- convenience store
- specialty shop
- direct sales
- e-commerce
By region:
- North America
- latin america
- east asia
- south asia
- Europe
- Oceania
- M.E.A.
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author:
Sneha Varghese(Senior Consumer Products and Merchandise Consultant) has over 6 years of experience in the market research and consulting industry. She has worked on over 200 of her research questions on consumer retail products.
Her work primarily focuses on facilitating strategic decision making, cross-functional business operations, technology project planning and management, and driving implementation success. She has helped produce insightful and relevant analysis of food and beverage market reports and research, including consumer market, retail, and manufacturer research perspectives. She is also involved in several food magazine and magazine bulletins.
Explore a wide range of FMI consumer products market insights.
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