According to a new research report by Global Market Insights Inc., the global cosmetic pigments market size is set to surpass USD 1.0 billion by 2026 owing to a transition in consumer preferences towards use of high-quality personal care and cosmetic products.
Increasing consumer awareness pertaining to the need to look more presentable coupled with an increase in the spending capacity of consumers is likely to raise the demand for cosmetic pigments in cosmetic products. The rising consumer demand for high-quality make-up and cosmetic products may further boost the growth.
UV protective and purifying properties of zinc oxide to augment the share of inorganic cosmetic pigments
Zinc oxide segment garnered market size over USD 89.1 Million in 2019, rising with a significant CAGR. The protective and purifying properties of zinc oxide is likely to raise its demand in cosmetic products. Zinc oxide protects from UVA and UVB rays, thus increasing its demand in sunscreen products. Additionally, zinc has anti-inflammatory, astringent and drying properties, which is likely to further raise the cosmetic pigments market demand from cosmetic products.
The increasing use of zinc oxide as a UV filter in sunscreen (in the form of nano zinc oxide), as an agent to soothe skin and ease irritation, and as a white pigment in some make-up products such as foundation us likely to raise its demand from cosmetics sector.
Zinc oxide is one of the only sun filters allowed in some countries such as the United States, which has indicated it as generally regarded as safe and effective, thus raising the product demand and aiding the growth of inorganic cosmetic pigments. Zinc oxide in nano form is safe and is unlikely to penetrate the skin's inner layers, making it suitable for use in cosmetic products meant for sensitive skin.
Browse key industry insights spread across 200 pages with 399 market data tables and 19 figures & charts from the report, “Global Cosmetic Pigments Market By Elemental Composition (Organic [Lakes, True Pigments, Toner], Inorganic [Zinc Oxide, Others], By Product [Surface Treated Pigments, Natural Colorants, Nano Pigments, Special Effect Pigments], By Application (Facial Make-up [Foundation, Blusher], Eye Makeup, Lipcare, Hair Care Products, Nail Care, Others [Soaps, Toothpaste] Industry Analysis Report, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing demand for natural ingredients in cosmetic and skin care products to propel the growth of cosmetic pigments market
Natural colorants segment accounted for market size of USD 170.1 million in 2019 growing over CAGR of 5.0% between 2020 and 2026. Increasing consumer preference towards the use of natural ingredients in cosmetic and skin care products is likely to drive the growth of natural colorants segment. Consumer trend is shifting from synthetically formulated ingredients to natural ingredients directly obtained from plants for use as natural colorants.
Long term use of synthetic hair colors may adversely affect scalp and hair, which is making natural colorants an ideal choice for beauty conscious consumers. The non-toxic, safe, healthy, eco-friendly, and economical nature of natural colorants and dyes offer promising opportunities to their use in hair care products such as hair dyes and hair colorants.
Different natural colorants are approved by the regulatory authorities in various countries for their use. For instance, Annatto, beta-Carotene, Caramel, Carmine, Chlorphyllin Cu complex, Guaiazulene, Henna and Guanine are some of the natural colorants approved for use by the FDA in the U.S.
Recent trends in innovation and technological advancements to trigger the growth of cosmetic pigments market from lip care application
Lip care segment is likely to expand with a high growth rate of over 4.5% through the forecast duration. Increasing trend of socialization coupled with surging consumer awareness regarding personal care and cosmetics is likely to raise the demand for lipsticks and lip care in the coming years. Moreover, increasing innovation in the segment of lipsticks and lip care may further foster the cosmetic pigments market growth.
For instance, Thann has developed Thann's Protective Lip Balm which consists of rice extracts and aloe, along with the newly released EOS Crystals range which features five nourishing oils while being wax-free and gentle on skin. Another innovation in the class of lip balms includes Winky Lux Glimmer Balm which changes color upon application. Kat Von D Beauty's Glimmer Veil lipstick in 'REVERB,' a daring electric blue shade and Kevyn Aucoin's Molten Lip Color in 'Cyber Opal' is attracting consumer attention.
Increased consumer preference towards processed food with high nutritional value to augment growth of North America region
North America accounted for a revenue share of over 35% in cosmetic pigments market. High per-capita income and extremely sophisticated standard of living is likely to drive the growth of cosmetics industry in North America. Furthermore, increasing trend of using high-quality make-up products may further promote the market growth in the region.
Statistics show that revenue in the Beauty & Personal Care segment in the U.S. amounts to USD 80.45 Billion in 2020 with the highest share grabbed by the personal care segment amounting to around USD 37.78 Billion in 2020. Increasing urbanization coupled with the proliferating consumer trend of making oneself look more presentable may further contribute to the growth of cosmetic pigments market in the region.
Major players in the cosmetic pigments industry are adopting inorganic growth strategies such as mergers and acquisitions and are focusing on new product development to sustain their position in the increasing market competition. The major players include Sun Chemicals, Kobo Products, BASF, Sudarshan Chemical, Sensient Cosmetic Technologies, Geotech, Huntsman, Merck Performance, Clariant LANXESS, Chem India Pigments, Eckart, Li Pigments, Dayglo Color and Koel Colours.
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