TAGS: Decorative Cosmetic
According to Allied Market Research report titled, "Cosmetic Dyes Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026", the global cosmetic dyes market size was valued at USD 420.3 million in 2018 and is anticipated to reach USD 610.1 million by 2026, with a CAGR of 4.9 percent during the forecast period. The market exhibits an incremental revenue opportunity of USD 172.3 million from 2019 to 2026.
Growing Demand for Facial Makeup Products
The growing demand for facial makeup products along with lakes and toners across working professionals is likely to propel the revenue growth of color cosmetic products. Consumers are purchasing inorganic based cosmetic products as the cosmetic product manufactured with inorganic dyes offers more vibrant and consistent coloring effect over organic dyes. These products are also affordable, readily available and easy to use.
Currently, majority of cosmetic manufacturing are using inorganic dyes in certain products range including facial makeup and lipstick. However, these inorganic dyes based cosmetic products prone to shorter life as compared with organic one.
Changing fashion trends, extension of current product line from leading companies and effective collaboration between manufacturing are driving the growth of cosmetic dyes market. Companies are collaborating with each through agreements and joint ventures to introduce novel products to cater changing market demand.
Effective Channel Strategies and Digital Media Expansion
The effective channel strategies and expansion of digital media has significantly increased the overall demand for cosmetic products. This has resulted into increased spending on latest cosmetic products such as nail polishes, eyeliners, lipsticks, among others. The inorganic dyes segment was valued at USD 247.8 Mn in 2019 and is expected to reach USD 323.4 Mn by 2026 growing at a CAGR of 3.9 percent during the forecast period.
The current supplier base from APAC region is targeting product capacity expansion to cater increasing market demand for color cosmetic products. European countries would remain predominant in terms of cosmetic dyes market share owing to strong penetration of premium cosmetic products.
Moreover, strong penetration of e-commerce distribution network and availability of international brands in the local market have provided revenue growth for overall cosmetic products. Thereby, increasing the overall demand for raw materials used in cosmetic manufacturing including cosmetic dyes. The Facial Makeup application segment was valued at USD 149.7 Mn in 2019 and is expected to reach USD 198.4 Mn by 2026 growing at a CAGR of 4.1 percent during the forecast period.
Key Findings of Cosmetic Dyes Market
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The organic dyes segment is expected to grow at a CAGR of 6.0 percent during the forecast period.
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North America is anticipated to dominate the cosmetic dyes market growth, registering a CAGR of 4.7 percent.
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Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest of CAGR 5.0 percent.
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The facial makeup application segment is anticipated to dominate the global cosmetic dyes market analysis, with a CAGR of 4.1 percent during the cosmetic dyes market forecast period.
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The nail products segment is estimated to grow at a CAGR of 6.4 percent during the forecast period.
Source: Allied Market Research