TAGS: Decorative Cosmetic
According to a new report by MarketsandMarkets, the size of cosmetic pigments is estimated at USD 645 million in 2021 and projected to reach USD 960 million by 2026, growing at a CAGR of 8.3%.
The global market for cosmetic pigments is driven primarily by the increasing demand for cosmetic products. Cosmetic pigments are used for manufacturing cosmetic and personal care products for color enhancement. With the growing demand for various cosmetic and personal care products, the use of cosmetic pigments is also increasing.
Special Effect Pigments
Special effect pigments are the fastest-growing segment of the cosmetic pigments market, by type, owing to the presence of a large number of manufacturers of cosmetic pigments. The increasing demand for special effect pigments in cosmetic products, such as lip products and eye shadows is expected to drive the market for this type of pigments during the forecast period.
Special effect pigments are used in all types of cosmetic and personal care applications to add color, glitter, luster, and shine. These pigments also help in enhancing skin tone. Special effect pigments provide cosmetics products with glow and texture improvement benefits.
Cosmetics products were traditionally made of chemical compounds; however, recently, there has been a significant demand for cosmetic products derived from natural sources. The application of cosmetic pigments includes nail products, lip products, eye makeup, facial makeup, hair color products, special effect & special purpose, and others (toothpaste, hair shampoo & conditioner, and sunless tabbing products).
Demand for Root Makeup Products
Facial makeup accounts for the largest application of the cosmetic pigments market. The increasing demand for root makeup products, such as foundations and face powders is expected to drive the market in this application segment.
Asia Pacific is the fastest-growing market, in terms of both production and demand. Higher domestic demand, easy availability of raw materials, and low-cost labor make Asia Pacific the most preferred destination for the manufacturers of cosmetic pigments. The use of cosmetic pigments as an important additive in various applications such as nail products, lip products, eye makeup, facial makeup, hair color products, special effect & special purpose as is driving the market in China.
Asia Pacific is emerging as a leading consumer of cosmetic pigments due to the increasing demand from domestic as well as international markets.
Source: M&M