Cosmetic Pigments Market is Estimated to Grow at a CAGR of 8.1% from 2022 to 2028
As stated in our extensive report; the Global Cosmetic Pigments Market accounted for USD 586.9 Million in the year 2021.
The variety of its applications in numerous areas, including facial cosmetics, lip products, eye goods, nail products, hair color products, and others, has pushed the global market for Cosmetic Pigments. Additionally, this class’s longevity, durability, and waterproofness are the main drivers of its popularity. According to estimates, the market’s highest growth will be seen in the segment for facial makeup throughout the projection period due to the sector’s expanding manufacturing of cosmetic goods. Other reasons driving the market’s expansion include the following:
- The consumer’s increasing purchasing power.
- Shifting fashion trends.
- Awareness of ways to enhance their overall aesthetics.
Key factors influencing Cosmetic Pigments Market Growth
The growth of the Global Cosmetic Pigments Market can be attributable to the following:
- With more product variety in the cosmetics and personal care market, there is an increased desire for cosmetics that complement the consumer’s natural skin tone. The quick demand for cosmetic and beauty products fuels Cosmetic Pigments use.
- The demand for Cosmetic Pigments is projected to increase in the upcoming year due to their capacity to improve consumer appearances and make them look better and more presentable.
- In the upcoming years, the industry will gain significantly from the trend toward using organic and natural products.
- The aging population and their increasing desire to preserve a youthful appearance are significant factors in the Cosmetic Pigments Market growth. Global chains of grooming and skin care facilities are continuously expanding, and this trend will emerge as a powerful driver for the market for Cosmetic Pigments.
- The demand for cosmetics made in developing nations is anticipated to increase as people’s disposable incomes rise in those areas.
- The expanding fashion and entertainment industries will increase consumer demand, profiting the Global Cosmetic Pigments Market.
- Product makers may increase their position in the worldwide market by using cutting-edge methods and technology more frequently, such as pigment dispersion. Additionally, the demand for Cosmetic Pigments is likely to be supported by the major stakeholders’ growing investments in manufacturing companies.
On the other hand, strict laws governing the production of pigments and their high metal content may impede the market’s expansion.
Asia Pacific Region to Lead the Market
Asia Pacific During the forecast period, the Cosmetic Pigments Market is expected to grow the most. The Asia Pacific market is driven by increased consumer living standards, interest in preserving a youthful appearance, and growing knowledge of self-grooming. Major businesses are also moving their manufacturing operations to China, Indonesia, and India due to the low labor cost and the accessibility of inexpensive raw materials in these countries. Due to rising consumer affluence and shifting lifestyles, China and India, two developing economies in the Asia Pacific, are also anticipated to have rapid expansion in the Cosmetic Pigments Market.
The overall Cosmetic Pigments Market is benefitting from the rise in the use of Cosmetic Pigments in personal care and grooming products.
Some of the key players in the Global Cosmetic Pigments Market include- BASF SE (Germany), Sensient Technologies (US), Sudarshan Chemicals (India), Huntsman International LLC (US), Lanxess (Germany), Sun Chemical (Japan ), Koel Colors Private Limited (India), Neelikon Food Dyes & Chemicals Limited (India), Merck (US), LI Pigments (US) and others.