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    Rising Disposable Income and Changing Lifestyle Patterns of Consumers Driving Colour Cosmetics Market Growth, Projected to Reach at a US$ 87,916 million by 2034

    Future Market Insights Global and Consulting Pvt. Ltd.

    The United States color cosmetics market is one of the largest and most mature markets globally. The growing trend of social media and the beauty industry’s influence on it has led to an increased awareness of beauty products among consumers in the United States.

    NEWARK, Del, Feb. 27, 2024 (GLOBE NEWSWIRE) — The colour cosmetics market is expected to be valued at US$ 54,772 million in 2024. The market is expected to rise at a CAGR of 4.8% through 2034. The market value is forecasted to hit US$ 87,916 million by 2034.

    The fashion industry is constantly evolving and new trends emerge every season. Evolution has resulted in the launch of new cosmetic products that cater to the changing needs of consumers.

    The rise of eCommerce platforms has made it easier for consumers to access a wide range of cosmetic products from the comfort of their homes. The platforms lead to an increase in competition among cosmetic brands, which has resulted in the launch of new and innovative products at competitive prices. This has further fueled the demand for color cosmetics, as consumers are always looking for the latest and best products.

    The rise in disposable income of consumers across the globe is stimulating sales of colour cosmetics. Moreover, the growing popularity of social media platforms is a significant contributor to the increasing demand for color cosmetics. Social media platforms have led to an increase in the awareness of beauty products, which has further fueled the demand for color cosmetics. Beauty influencers on social media platforms have played a significant role in promoting various cosmetic products, leading to a surge in demand.

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    The increasing number of working women has also contributed to the growth of the color cosmetics market. With more women joining the workforce, the need for cosmetics catering to their needs is growing. In the current period, women are looking for products that are long-lasting, easy to use, and provide a flawless finish.

    “The rising demand for organic and natural cosmetics presents an excellent opportunity for manufacturers to invest in research and development of safer and healthier products. As consumers are becoming more aware of the harmful chemicals used in cosmetics, the demand for organic products is increasing, providing manufacturers with a chance to cater to the growing demand and expand their market share,” says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights.

    Key Takeaways from the Colour Cosmetics Market

    • The colour cosmetics market is estimated to register a CAGR of 4.8% and reach a valuation of US$ 87,916 million by 2034.

    • The natural and organics segment is anticipated to dominate the global market, holding a share of 64.3% in 2024.

    • The eCommerce segment is expected to account for a 31.8% market share in 2024.

    Competitive Landscape

    With new brands entering the market and established players introducing innovative products, companies are competing on several factors such as quality, brand recognition, and pricing. Furthermore, the proliferation of eCommerce has made it easier for new players to enter the market and compete with established brands.

    Key Market Players

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    Recent Developments

    In 2022, Revlon, a renowned cosmetic brand, recently inaugurated a new store in Delhi, India that provides customers with an immersive and experiential shopping experience. The store offers a complete range of Revlon color cosmetics, skincare, and personal care products, along with select Revlon Professionals and Street Wear Products. The flagship store also features a diverse range of hair and makeover services, including hair coloring using the Revlon Professional line, hair care, hair cutting, and hair styling, as well as party makeovers and basic grooming, all performed by skilled professionals.

    Key Market Segments

    By Product Type:

    • Chemical

    • Natural & Organic

    By Prices:

    By Product Category:

    • Nail Products

    • Facial Makeup

    • Eye Makeup

    • Lip Products

    • Hair Colour Products

    • Special Effects Products

    By Distribution Channel:

    By Region:

    • North America

    • Latin America

    • East Asia

    • South Asia

    • Europe

    • Oceania

    • MEA

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    Authored by:

    Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.  
    Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

    Explore wide-ranging Coverage of FMI’s Consumer Product Market Insights Landscape:

    The cosmetics ODM market is estimated to be valued at US$ 13,460.7 million in 2023 and is expected to reach US$ 23,265.4 million by 2033. The adoption of cosmetics ODM is likely to advance at a CAGR of 5.6% during the forecast period.

    The global ASEAN organic cosmetic market size is projected to attain a valuation of US$ 9,484.4 million by 2033. Our consumer product industry analysts opine that ASEAN organic cosmetic providers can expect a modest CAGR of 5.4% through 2033, with a current valuation of US$ 5,605.4 million in 2023.

    The global halal cosmetics market is anticipated to generate revenues of US$ 42.65 billion in 2023. Demand for halal cosmetics is projected to develop at a CAGR of 11.6% and reach US$ 127.8 billion by 2033.

    The cosmetic pencil and pen market would be worth US$ 2.8 billion in 2023 and is expected to reach US$ 5.7 billion by 2033, likely to register a 7.5% CAGR from 2023 to 2033.

    The cosmetic pigments market size is estimated to be US$ 12.98 Billion in 2023 and is expected to reach roughly US$ 24.24 Billion by 2033, registering a CAGR of 6.45% from 2023 to 2033.

    The global water colour palette market is expected to register a CAGR of 5.4% by garnering a market value of US$ 345 Billion.

    The market for herbal beauty products is expected to experience significant growth at a CAGR of 6.1% during the forecast period. The market is projected to rise from US$ 75,098.55 million in 2024 to US$ 135,897.65 million by 2034.

    The global tinted cosmetics market size is expected to grow from US$ 1,500.0 Million in 2022 to US$ 2,290.0 Million by the end of 2032, with overall sales accelerating at a moderate CAGR of 4.3% during the forecast period. Rising consumer spending on cosmetics across the world is a key factor expected to boost sales of tinted cosmetics during the forecast period.

    As per newly released data by Future Market Insights (FMI), demand in the global perfume market is projected to grow at a 5.5% CAGR over the assessment period. The market is expected to grow from USD 59.4 Billion in 2023 to USD 101.3 Billion by 2033.

    In terms of value, Europe & Asia Pacific herbal beauty products market is anticipated to witness a CAGR of 3.7% during the forecast period and is expected to reach at US$ 2,571.2 Mn by 2026 end.

    About Future Market Insights (FMI)

    Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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