The global color cosmetics market is projected to reach a value of USD 54,772 million in 2024, with a compound annual growth rate (CAGR) of 4.8% anticipated through 2034. By the end of this period, the market is expected to grow to USD 87,916 million.
The fashion industry’s dynamic nature continually drives the development of new cosmetic products that reflect changing consumer preferences and trends. This evolution in both fashion and beauty has spurred the creation of a variety of innovative cosmetic solutions tailored to meet the needs of modern consumers.
The rapid growth of eCommerce platforms has significantly expanded access to a wide range of color cosmetics, allowing consumers to shop conveniently from home. This surge in online shopping has intensified competition among brands, encouraging the introduction of cutting-edge products at competitive prices. As a result, consumer demand for color cosmetics has grown as people seek out the latest and most innovative beauty offerings.
Increasing disposable incomes worldwide are also contributing to the rise in cosmetic sales. Additionally, the growing influence of social media platforms has played a pivotal role in boosting the popularity of color cosmetics. The widespread use of beauty influencers and social media marketing has not only raised consumer awareness about new products but has also directly driven demand for the latest cosmetic trends.
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The growing number of women entering the workforce has also fueled the expansion of the color cosmetics market. As more women pursue careers, there is an increasing demand for cosmetics that cater to their busy lifestyles. Today’s women are seeking products that are not only long-lasting and easy to apply but also deliver a flawless finish, making them essential for both professional and personal use.
Key Takeaways from the Colour Cosmetics Market
- The colour cosmetics market is estimated to register a CAGR of 4.8% and reach a valuation of US$ 87,916 million by 2034.
- The natural and organics segment is anticipated to dominate the global market, holding a share of 64.3% in 2024.
- The eCommerce segment is expected to account for a 31.8% market share in 2024.
Competitive Landscape
With new brands entering the market and established players introducing innovative products, companies are competing on several factors such as quality, brand recognition, and pricing. Furthermore, the proliferation of eCommerce has made it easier for new players to enter the market and compete with established brands.
Key Market Players
- Chanel
- Dior
- Givenchy
- L'Oréal S.A.
- Kroylan Professional Make-up
- Lancôme
- Mamaearth
- TOM FORD S.A.
- Plum
- Coty Inc.
- MAYBELLINE New York
- Yves Saint Laurent
- PAC Cosmetics
- Revlon Group
- NYX Professional Makeup
- Shiseido Company
- Sephora
- Rimmel London
- Laura Mercier
- Julep Beauty
Recent Developments
In 2022, Revlon, a renowned cosmetic brand, recently inaugurated a new store in Delhi, India that provides customers with an immersive and experiential shopping experience. The store offers a complete range of Revlon color cosmetics, skincare, and personal care products, along with select Revlon Professionals and Street Wear Products. The flagship store also features a diverse range of hair and makeover services, including hair coloring using the Revlon Professional line, hair care, hair cutting, and hair styling, as well as party makeovers and basic grooming, all performed by skilled professionals.
Key Market Segments
By Product Type:
- Chemical
- Natural & Organic
By Prices:
- Economic
- Premium
By Product Category:
- Nail Products
- Facial Makeup
- Eye Makeup
- Lip Products
- Hair Colour Products
- Special Effects Products
By Distribution Channel:
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Direct Selling
- e-Commerce
By Region:
- North America
- Latin America
- East Asia
- South Asia
- Europe
- Oceania
- MEA
