Color cosmetics such as lip make up, eye make, hair care products continue to witness strong market demand as people continue to focus more on their look and appearance. Additionally, with increasing women work force population who are using cosmetic products on a regular basis, changing lifestyle trend, growing influence of fashion bloggers and growing retail penetration are further creating new growth opportunities for color cosmetics market.
Premium color cosmetics continue to witness higher growth rate than the mass segment owing to increasing disposable income, increasing awareness towards using premium quality ingredients and growing presence of premium specialty beauty stores across both developed and emerging markets For instance, in developed markets such as U.S., Sephora introduced its new Sephora Studio with a retail space of around 2000 square feet in 2017. For emerging markets such as India, Sephora plans to launch around 10 stores a year with an aim to reach 50 stores by 2022.
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Growing interest among consumers in using chemical-free products coupled with increasing awareness and rising standard of living in developing economies is fuelling the demand for natural and organic color cosmetic products market. As a result, manufacturers are furthermore increasing attention towards the usage of natural ingredients to target informed customers. For instance, L’Oreal introduced its professional hair dye brand, Botanea in 2018. The herbal product composed of three ingredients such as cassia, henna and indigo aims to capture a larger share in the natural beauty segment which is expected to grow at a faster rate during the forecast period.
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Some of the key players in the market include L’Oreal S.A., Estee Lauder Companies Inc, Coty Inc, Johnson and Johnson Inc, Revlon Inc, Shiseido Co. Ltd., Unilever Plc, Natura Cosméticos S.A. and Chantecaille Beaute.
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