COVID19:COSMETIC PIGMENTS MARKET TO REACH USD 1.2 BILLION BY 2027 | CAGR 7.0% — FORENCIS RESEARCH
Global Cosmetic Pigments Market: Key Highlights
- According to the new market research report “Cosmetic PigmentsMarket by Elemental Composition (Organic Pigment, Inorganic Pigment), by Type (Surface Treated Pigment, Special Effect Pigments, Nano Pigments, Natural Colorant), by Application (Eye Makeup, Facial Makeup, Lip Products, Nail Products, Hair Color Products, Others)by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global cosmetic pigmentsmarket is estimated to reach USD 1.2Billion by 2027 at a CAGR of around 7.0% during the review period.
- Cosmetic pigments are insoluble pigments used as coloring agents in various cosmetic products such as hair dyes, eye makeup, nail paints, lipsticks, and others
- Pearlescent pigment type of cosmetic pigment is widely used in the cosmetic industry to add sparkle, luster, impact color, and provide coverage
- Non-toxic, inert, good hiding power, color fast, hypoallergenic, and availability in wide variety of colors are some of the desirable properties offered by cosmetic pigments.
Global Cosmetic Pigments Market: Key Market Dynamics
- The increasing popularity of cosmetic pigments in cosmetic and personal care products owing to its properties and characteristics such as shine, shimmer, non-toxic, and others has expected to boost the demand for the cosmetic pigment market
- Increasing disposable income and changing lifestyle coupled with increasing demand for new, differentiated, and premium cosmetic and personal care products has anticipated to drive the product market growth
- Stringent regulations imposed by various governments such as European Union Commission and the U.S. Food and Drugs Administration (FDA) regarding used of cosmetic pigments for manufacturing of products is expected to hinder the growth of market.
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Global Cosmetic Pigments Market: Regional Overview
Europe is anticipated to witness prominent growth in cosmetic pigments market owing to the developed cosmetic and personal care manufacturing. Moreover, increasing cosmetic exports and growing research and development activities in order to manufacture safe cosmetic products has expected to drive the growth in the region. For instance, according to Cosmetic Europe, the export of cosmetic product from Europe totalled USD 26.18 billion in 2019. Additionally, Germany, France, U.K, Italy, Spain, and Poland are the largest national markets for cosmetic & personal care products.
FIG: EUROPEAN MARKET FOR COSMETIC PRODUCTS (USD Billion)
Source: Cosmetic Europe (2019)
The Asia-Pacific is anticipated to witness the largest growth in cosmetic pigments market during the forecasted period owing to continuous spending in online beauty spending, expansion of the social network, increasing urbanization, consumer interest in new, different, and premium products, and growth of upper middle classes. Moreover, major manufacturersare shifting their manufacturing base in China, India, and Indonesia owing to cheap labor cost and availability of raw materials at a lower cost.
Global Cosmetic Pigments Market: Key Players Overview
- Sun Chemical Group:
Sun Chemical Group is a member of the DIC group and is one of the leading providers of coating & supplies, printing inks, polymers, pigments, liquid compounds, solid compounds, and application materials. The company operates through 176 subsidiariesin 63 countries across the globe.Sun Chemical Group offers a broad range of pigment products for coating, cosmetic, digital, plastic, printing ink, and specialities markets. In Feb 2019, Sun Chemical Group introduced a new composite pigment SpectraFlex Illusion which will offer a cost-effective and novel approach to soft-focus effects. This product will be acost-effective alternative to ingredients for alumina, silicone elastomers, and polyethylene microsphere which were used in the past.
- BASF SE:
BASF SE is a German-based company engaged in manufacturing and distributing speciality chemical. The company broadly operates through Chemical, Materials, Industrial Solution, Surface Technologies, Nutrition & Care, and Agriculture Solution business segment. The cosmetic pigments products are offered under nutrition and care segment. Synthetic mic-based products, mica base pigments, calcium sodium borosilicate based pigments, speciality performance minerals, and bismuth oxychloride based pigments are products offered by the company for cosmetic pigments. In June 2019, BASF SE and siHealth Ltd (U.K), a leading company in healthcare announced stratergic alliance, including equity investment. This alliance will help to extend product BASF SE offerings and market its personal care products globally.
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