Cosmetics Pigment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cosmetics Pigment Market Analysis
The Cosmetic Pigments market is estimated at USD 0.86 billion currently and is expected to reach USD 1.15 billion over the forecast period, registering a CAGR of over 6% during the forecast period.
The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, the increasing demand for cosmetics products in the Asia-Pacific region and the rapidly growing demand for organic pigments are some of the factors driving the growth of the market studied.
- On the flip side, new medical technologies for beauty enhancement are expected to hinder the growth of the market.
- However, the rising demand for organically produced cosmetic pigments is anticipated to provide numerous opportunities over the forecast period.
- The Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, Japan, and South Korea.
Cosmetics Pigment Market Trends
Inorganic Pigment Segment to Dominant the market
- Inorganic pigments are chemical compounds not based on carbon and are usually metallic salts precipitated from solutions.
- These pigments can be defined as insoluble compounds with a basis of metallic ions. Inorganic pigments are generally very resistant to the effects of light because the energy required to generate a breakdown of bonds is greater than that provided by sunlight.
- Most inorganic pigments are manufactured at high temperatures and are generally not affected by the process temperatures, making them resistant to heat.
- Inorganic colors (pigments) are composed of insoluble metallic compounds derived from natural sources (e.g., china clay, carbon deposits) or are synthesized. Inorganic pigments consist of iron oxides, chromium oxides, ultramarines, manganese violet, white pigments, and pearlescent effects.
- The high stability of inorganic pigment color and high particle dispersion make it a popular choice in the manufacture of cosmetics products. The dispersion benefits of inorganic pigment are expected to increase the industry's growth rate and the development of the worldwide inorganic pigment market in the coming years.
- For instance, Germany is the largest cosmetic market in Europe, followed by France and the United Kingdom. For instance, according to IKW, in 2022, the market value of beauty and personal care in Germany is estimated to be EUR 14,333 Million (USD 15104.11 Million), which shows an increase of 5.36% compared to 2021. Therefore, an increase in the market value of beauty and personal care products in the country is expected to create an upside demand for the cosmetic pigments market in the country.
- The market for men's skincare is expanding as a result of rising disposable income, celebrity endorsements, and increased product launches among men who are becoming more conscious of their personal hygiene and regular grooming. Men's preferences for skincare products are expanding beyond those for traditional grooming. For instance, according to L'Oréal, in 2022, skincare products made up 41% of the global cosmetic market.
- Moreover, due to the increase in advertising and promotional activities, consumers in the United States are purchasing cosmetics. For instance, in 2022, the revenue of the United States cosmetics markets lay at over USD 18 billion . The strongest segment in 2022 was face cosmetics with a revenue of around USD 6.5 billion, followed by the eye cosmetics segment. The natural cosmetics market in comparison generated an annual revenue of USD 1.6 billion.
- Therefore, due to the above-mentioned factors, the inorganic pigments segment is likely to dominate the cosmetic pigments market during the forecast period.
Asia-Pacific Region to Dominate the Market
- Currently, the Asia-Pacific region dominates the global market for the cosmetic pigments market. China and Japan are the leading consumers of cosmetic pigments in the region.
- The increasing cosmetic production capacities and consumption in countries such as China, India, and ASEAN countries, are expected to increase the demand for cosmetic pigments in the region.
- According to the National Bureau of Statistics of China, in January 2022, the retail trade revenue of cosmetics in China amounted to about USD 9.18 billion and reached about USD 9.76 billion in January 2023. As the demand for cosmetic products expands further in second-and third-tier cities of China, the cosmetic pigments market is expected to maintain its growth momentum in the near future. In addition, the changing attitude among men toward skin care fosters the booming of the men's cosmetics market in China.
- According to Euromonitor International Study, the Indian beauty and personal care (BPC) market is the 8th largest in the world with a total value of USD 15 billion and is growing at ~10%. Furthermore, the market is expected to double by 2030 with skin care and cosmetics driving this growth. Despite having the same demographic advantage as China, the size of the Indian market is 1/5th the size of the Chinese BPC market, primarily due to lack of penetration outside metros and tier 1 cities. Therefore, increasing demand for skin care and cosmetics products in thge country is expected to cretae an upside demand for cosmetic pigments market.
- Moreover, the Asia Pacific accounts for over 42% of the global cosmetics market in the year 2022, which is expected to boost cosmetic pigments market.
- All these factors are expected to make the Asia-Pacific region dominate the global market.
Cosmetics Pigment Industry Overview
The Cosmetic Pigments Market is partially consolidated in nature. The major players in this market (not in a particular order) include DIC Corporation, ALTANA AG, Merck KGaA, Venator Materials PLC., and Fujian Kuncai Material Technology Co., Ltd., among others.
Cosmetics Pigment Market Leaders
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DIC Corporation
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ALTANA AG
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Merck KGaA
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Venator Materials PLC.
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Fujian Kuncai Material Technology Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Cosmetics Pigment Market News
The recent developments pertaining to the major players in the market are being covered in the complete study.
Cosmetics Pigment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand for Cosmetic Products in the Asia-Pacific Region
- 4.1.2 Rapidly Growing Demand for Organic Pigments
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 New Medical Technologies for Beauty Enhancement
- 4.2.2 Straight Regulations Pertaining to the Use of Certain Pigments
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Application
- 5.1.1 Facial Makeup
- 5.1.2 Lip Products
- 5.1.3 Hair Colour Products
- 5.1.4 Eye Makeup
- 5.1.5 Other Applications
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5.2 Composition
- 5.2.1 Inorganic
- 5.2.2 Organic
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 ALTANA AG
- 6.4.2 Croda International Plc
- 6.4.3 DIC Corporation
- 6.4.4 ECKART
- 6.4.5 Fujian Kuncai Material Technology Co., Ltd.
- 6.4.6 GEOTECH
- 6.4.7 IFC Solutions
- 6.4.8 Kobo
- 6.4.9 Koel Colours Private Limited
- 6.4.10 LANXESS
- 6.4.11 Merck KGaA
- 6.4.12 Neelikon Food Dyes And Chemicals Ltd.
- 6.4.13 Ocres de France
- 6.4.14 Sandream Specialties
- 6.4.15 Sensient Cosmetic Technologies
- 6.4.16 Sudarshan Chemical Industries Limted
- 6.4.17 Venator Materials PLC.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. The Rising Demand for Organically Produced Cosmetic Pigments
9. Increasing Sustainable and Environmentally Safe Pigments for Cosmetics
Cosmetics Pigment Industry Segmentation
Cosmetic pigments are colorants that are safe to use for cosmetic products. They are used for their opaque color coverage, making their use particularly suitable in various cosmetics products. The cosmetic pigment market is segmented based on application and composition. By application, the market is segmented into facial makeup, lip products, hair color products, eye makeup, and other applications. By composition, the market is segmented into inorganic and organic. The report offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD) for all the above segments.
| Application | Facial Makeup | |
| Lip Products | ||
| Hair Colour Products | ||
| Eye Makeup | ||
| Other Applications | ||
| Composition | Inorganic | |
| Organic | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Cosmetics Pigment Market Research FAQs
What is the current Cosmetic Pigments Market size?
The Cosmetic Pigments Market is projected to register a CAGR of 6.01% during the forecast period (2024-2029)
Who are the key players in Cosmetic Pigments Market?
DIC Corporation, ALTANA AG, Merck KGaA, Venator Materials PLC. and Fujian Kuncai Material Technology Co., Ltd. are the major companies operating in the Cosmetic Pigments Market.
Which is the fastest growing region in Cosmetic Pigments Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cosmetic Pigments Market?
In 2024, the Asia Pacific accounts for the largest market share in Cosmetic Pigments Market.
What years does this Cosmetic Pigments Market cover?
The report covers the Cosmetic Pigments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cosmetic Pigments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cosmetics Pigments Industry Report
Statistics for the 2024 Cosmetics Pigments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cosmetics Pigments analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
