Color Cosmetics Market worth 77.7 Billion USD by 2020
The Color Cosmetics Market was valued at USD 57.4 Billion in 2014. It is projected to reach USD 77.7 Billion in 2020 with a CAGR of 5.7%. The market will be dominated by players such as LO’real Group, Avon Product Inc., Coty Inc., Krylon, and Estee Lauder Companies Inc.
Color Cosmetics Market by Target Market (Prestige products and Mass products), by Application (Nail products, Lip products, Eye Make-up, Facial Make-up, Hair Color Products, Special Effects Products, and Others ) and Geography - Regional Trends & Forecasts to 2020
Browse 63 tables and 46 figures spread through 156 Pages and in-depth TOC on "Color Cosmetics Market”.
High color cosmetics demand in developing regions, such as Asia-Pacific and RoW
In Asia-Pacific, the Indian color cosmetics market is projected to register more than 20% growth by 2020 mainly due to rising consumer awareness and changing lifestyles amongst the India’s booming population. The Indian color cosmetics industry is projected to witness a shift from traditionally dominating existing domestic market players to international market players by 2020. Another reason for the growth of color cosmetics market in India is that the people are becoming more beauty conscious due to increased access to branded goods, and the increasing number of women workers who are enjoying increasing economic power and financial independence.
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Rising demand for nail products and face make-up to drive the color cosmetics market in the U.S. and Europe
The U.S. color cosmetics products are growing due to continuous technological innovations, developing fashion trends, and immature markets for some products. Nail polish and BB creams registered the highest growth in the U.S. between 2012 and 2014 due to advances in technology with major developments in highlights including gel nail polishes which have gained immense popularity. The convenience and ease of use provided by the BB creams has driven their demand in the color cosmetics market of the U.S.
In the U.K., the prestige products play a significant role in driving the demand for color cosmetics. The U.K. is projected to register around 30% of all growth in the region’s prestige color cosmetics market sales between 2010 and 2015.
High color cosmetics demand in developing regions, such as Asia-Pacific and RoW
In Asia-Pacific, the Indian color cosmetics market is projected to register more than 20% growth by 2020 mainly due to rising consumer awareness and changing lifestyles amongst the India’s booming population. The Indian color cosmetics industry is projected to witness a shift from traditionally dominating existing domestic market players to international market players by 2020. Another reason for the growth of color cosmetics market in India is that the people are becoming more beauty conscious due to increased access to branded goods, and the increasing number of women workers who are enjoying increasing economic power and financial independence.
The color cosmetics market is registering a substantial growth in South Africa and is projected to register high CAGR in next five years. Avon Products Inc. is one of the major color cosmetic companies in South Africa which has experienced significant increase in its sales since 2012.
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