December 9, 2023

Colour Cosmetics Market Analysis: A Look at Current Size and Trends

The global colour cosmetics market is poised for a remarkable surge in demand, driven by a multitude of factors that cater to the ever-evolving landscape of beauty standards. The industry’s transformation is characterized by the integration of diverse skin tones, a shift towards inclusivity, and the rising trend of personalized makeup products. Fairfield Market Research predicts an exceptional rise in the demand for colour cosmetics as the market expands its range of shades, aligns with current trends, and embraces timeless classics.

Wider Range of Skin Tones Boosts Demand

The global cosmetics industry, acting as a bridge between fashion trends and artistic expression, has played a pivotal role in shaping consumer culture. To remain relevant in an ever-changing world, cosmetic colors have evolved to embrace complexions ranging from almond to toffee, reflecting a commitment to inclusivity. Iconic moments, such as the 2017 launch of Fenty Beauty’s 40 different makeup shades, ignited conversations about beauty products for all, ushering in brands like KKW Beauty, Tarte Cosmetics, and Benefit’s Cosmetics LLC to cater to diverse communities and social groups. Analysts anticipate that foundation products will lead the global colour cosmetics market, driven by an increasing number of men and individuals with diverse gender identities investing in grooming products.

Personalized Colour Cosmetics Expand Revenue Horizons

The global colour cosmetics market is witnessing a paradigm shift with the growing trend of personalized makeup. Custom-blends, tailored to suit specific complexions or desired shades, have gained immense popularity among consumers. Leveraging cutting-edge technology that scans skin tones and formulates products to perfection, the market is rapidly expanding its horizons. For example, L’Oréal Perso is leveraging this technology to create personalized foundations and lipstick formulas. The use of color-matching technology empowers end-users to match their makeup shades with outfits and current trends, broadening the application scope of the global colour cosmetics market.

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The “Lipstick Effect” Resurgence

The lipstick segment is expected to experience a monumental resurgence between 2021 and 2025. The cosmetic industry faced a decline in sales due to changing spending habits during the COVID-19 pandemic. However, as masks come off, lipstick sales are projected to soar. The current trend in lipsticks will challenge the notion of the “lipstick effect” observed during the 2008 recession. Demand for rich, darker shades and neutral tones will witness significant growth in the near future. Driven by the allure of affordable luxuries, lipstick shades are set to redefine the global colour cosmetics market.

K-Beauty Trends Drive Demand

Geographically, North America and Europe maintain dominance in the global colour cosmetics market, benefitting from the presence of key players and established luxury cosmetic companies in these developed economies. Furthermore, the demand for organic cosmetics with colored pigments is on the rise. Innovative product offerings, inclusive marketing strategies, and social media campaigns are expected to propel the North America and Europe colour cosmetics market. Meanwhile, the Asia Pacific region is also expected to experience substantial growth between 2021 and 2025, driven by a surge of Millennials and Generation Z individuals expressing themselves through beauty products. The influence of social media and trends like K-beauty, known for its gloss-finish and glitter, will drive demand for a wide range of colour cosmetics products in the foreseeable future.

Key Players

Prominent companies in the global colour cosmetics market include LVMH Moët Hennessy Louis Vuitton SE, Natura Cosméticos S.A., The Colgate-Palmolive Company, Procter & Gamble Co., AmorePacific Corporation, Mary Kay Inc., Henkel AG & Co. KGaA, KOSÉ Corporation, and L Brands Inc.

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Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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This press release first seen on Brilad