The cosmetic pigments market is being driven by innovation, demand for natural ingredients, and the expansion of the cosmetic industry.
— Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 25, 2023 /EINPresswire.com/ — The global cosmetic pigments market is expected to grow at 6.4% CAGR from 2023 to 2029. It is expected to reach above USD 17.75 billion by 2029 from USD 11.5 billion in 2022.
Cosmetic pigments are colouring chemicals used to influence the colours in a wide range of cosmetic formulations, from nail polishes and lipsticks to personal care items like soap. The market is dominated by organic and inorganic cosmetic pigments. The changing lifestyle and higher level of disposable income would boost the cosmetic pigment market’s growth rate. As their GDP grows, emerging economies’ living standards rise. As a result of rising income levels and changing lifestyles brought about by urbanisation, demand for cosmetics and personal care products is skyrocketing.
The increased demand for organically produced cosmetic pigments is creating new prospects for cosmetic pigment industry participants. Some cosmetic pigments used in cosmetics goods include hazardous compounds that may be damaging to human health. A combination of rising public interest and government requirements has prompted cosmetics firms to develop more natural and sustainable cosmetic emulsifiers. As a result, the need for environmentally safe and sustainable organic pigments is constantly increasing. Manufacturing firms are making investments in green markets and pursuing sustainable technology.
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• January 23, 2023: Eckart America has announced the expansion of Acme-Hardesty Co. territory to include Canada. Acme-Hardesty Co. has been their agent/ distributor in the United States for the past few years. They have now a dedicated technical sales manager in Canada who will cover the region. Acme-Hardesty Co. will be ECKART’s distribution partner for the personal care and cosmetic market for ECKART’s pigments and BYL’s product range in Canada.
• October 20, 2022: Sun Chemical has launched the global cosmetics color trend 2024, “Youtopia”, which includes two chapters of new seasonal trends, Rooted and Distilled. Sun Chemical aims to forecast upcoming beauty trends with inspiring colors, textures, effects, and vegan formulations.
Asia Pacific region dominates 35% of the global market in the cosmetic pigments market.
The increasing cosmetic production capacities and consumption in countries such as China, India, and ASEAN countries, are expected to increase the demand for cosmetic pigments In the region. China and Japan are the leading consumers of cosmetic pigments in the region. Moreover, several factors such as changing consumer lifestyles, increasing disposable income, and low-cost availability of labor support the market growth in the Asia Pacific region.
• Type: Surface Treated Pigments Sub-segment to Hold Majority of Market Share by 2029
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.
Key Points Regarding the Cosmetic Pigments Market:
• Growing Demand for Natural and Sustainable Pigments:
Consumers have been increasingly inclined towards natural and sustainable cosmetic products. This trend extends to pigments, with a demand for plant-based or mineral-based pigments. Companies have been investing in research and development to create vibrant and stable natural pigments as alternatives to synthetic ones.
• Increasing Emphasis on Customization:
Personalization and customization have become significant trends in the cosmetics industry. Cosmetic pigment manufacturers are offering a diverse range of shades and colors to cater to individual preferences. This trend is particularly prominent in the foundation, lipstick, and eyeshadow segments.
• Technological Advancements in Formulation:
Advancements in cosmetic formulation technologies have influenced the cosmetic pigments market. This includes innovations in dispersion technologies, making pigments easier to incorporate into different cosmetic products. The development of long-wearing and transfer-resistant formulations has also been a focus.
• Rise of E-commerce in Cosmetic Sales:
The growth of e-commerce has impacted the cosmetics market, including cosmetic pigments. Online platforms provide consumers with access to a wide range of products, and the ability to explore and purchase different pigment shades has contributed to market expansion.
Cosmetic Pigments Market Technological Trends
• Nanotechnology in Pigments:
Nanotechnology has been making strides in various industries, including cosmetics. In the cosmetic pigments market, nanotechnology has been employed to create nanoparticles that enhance the properties of pigments. Nano-sized pigments can offer improved color intensity, better dispersion, and increased stability in cosmetic formulations.
• Sustainable and Natural Pigments:
The cosmetic industry, in general, has been moving towards sustainability and natural ingredients. This trend extends to cosmetic pigments as well. Companies have been investing in research and development to discover and utilize natural sources for pigments, reducing reliance on synthetic materials. This aligns with the increasing consumer demand for eco-friendly and sustainable products.
• Advanced Color Matching Technology:
Technology plays a crucial role in color matching for cosmetics. Advanced color matching systems and software have been developed to ensure precise and consistent color reproduction. This helps cosmetic manufacturers maintain product quality and meet consumer expectations for color accuracy.
• Innovations in Delivery Systems:
Advancements in delivery systems for cosmetic pigments have been observed. This includes technologies that enhance the application, longevity, and overall performance of cosmetic products. For example, developments in encapsulation technologies can improve the controlled release of pigments, leading to longer-lasting and more effective cosmetic formulations.
Cosmetic Pigments Market Players
• Sensient Cosmetic Technologies
• Kobo Products
• Sun Chemical
• DIC Corporation
• Venator Materials PLC
• Fujian Material Technology Co. Ltd.
• and BAS
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Key Market Segments: Cosmetic Pigments Market
Cosmetic Pigments Market By Composite, 2023-2029, (USD Billion), (Tons)
Cosmetic Pigments Market By Type, 2023-2029, (USD Billion), (Tons)
• Special Effect Pigments
• Surface Treated Pigments
• Nano Pigments
• Natural Colorants
Cosmetic Pigments Market By Application, 2023-2029, (USD Billion), (Tons)
• Facial Makeup
• Eye Makeup
• Lip Products
• Nail Products
• Hair Color Products
• Growing Beauty and Personal Care Industry: The cosmetic pigments market is influenced by the overall growth of the beauty and personal care industry. As consumers become more conscious of their appearance, the demand for cosmetic products, including pigments, tends to rise.
• Advancements in Technology: Innovations in cosmetic pigment manufacturing technologies, such as nanotechnology, influence market dynamics. New and improved formulations, offering better performance and unique effects, contribute to market growth.
• Trends and Fashion: Cosmetic pigments are often driven by trends in fashion and beauty. Changes in consumer preferences, influenced by social media, fashion shows, and celebrity endorsements, can significantly impact the market.
• Increasing Disposable Income: The rise in disposable income in many regions contributes to increased spending on personal care and beauty products, thereby driving the demand for cosmetic pigments.
• Rising Awareness of Appearance: Growing awareness of personal grooming and appearance among consumers, both men and women, fuels the demand for cosmetic products, including those containing pigments.
• E-commerce Growth: The expansion of e-commerce channels has made cosmetic products more accessible to a broader consumer base, boosting the overall market for cosmetic pigments.
• Stringent Regulations: Regulatory restrictions on the use of certain ingredients in cosmetic products can be a significant restraint. Compliance with safety and health standards may pose challenges to market players.
• High Cost of Innovative Pigments: Advanced and innovative pigments can be expensive to develop and manufacture, which may limit their adoption in the market.
• Rising Demand for Natural and Organic Products: There is a growing trend toward natural and organic cosmetic products. Manufacturers can capitalize on this by developing and promoting cosmetic pigments derived from natural sources.
• Emerging Markets: Untapped markets in developing regions represent significant growth opportunities for cosmetic pigment manufacturers.
• Color Stability: Maintaining color stability over time, especially in the presence of external factors like sunlight or environmental conditions, can be a challenge for cosmetic pigments.
• Supply Chain Disruptions: Disruptions in the supply chain, whether due to raw material shortages, transportation issues, or geopolitical factors, can impact the production and availability of cosmetic pigments.
Key Question Answered
1. Who are the major players in the cosmetic pigments market and what is their market share?
2. What are the end-user industries driving demand for the market and what is their outlook?
3. What are the opportunities for growth in emerging markets such as Asia-Pacific, Middle East, and Africa?
4. How is the economic environment affecting the cosmetic pigments market, including factors such as interest rates, inflation, and exchange rates?
5. What is the expected impact of government policies and regulations on the cosmetic pigments market?
6. What are the key drivers of growth in the cosmetic pigments market?
7. What are the distribution channels and supply chain dynamics in the cosmetic pigments market?
8. What are the technological advancements and innovations in the cosmetic pigments market and their impact on product development and growth?
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Article originally published on www.einpresswire.com as Cosmetic Pigments Market to USD 17.75 billion by 2029, Exclusive Report by Exactitude Consultancy