Rockville, MD -- (SBWIRE) -- 03/12/2018 -- Color cosmetics are a wide range of cosmetic products that enhance the appearance of users through attractive colors. Color cosmetics are made from chemical compounds that develop the desired color. Color cosmetics can be manufactured from synthetic and natural sources, and are predominantly used by women. Some products available in the color cosmetics market also serve the purpose of cleansing the applied body parts.
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Changing consumer lifestyles will be rendered profitable for cosmetics industry, particularly in terms of adoption of color cosmetics. Proliferation of showbiz cultures and controlling influence of social media platforms over the appearance of consumers is affecting the dynamics of global color cosmetics market. As manufacturers continue to strive for higher on-shelf availability, they are drawing flak from consumers who are aware of immoral animal testing prevalent in the production of cosmetics. In the years to come, the global market for color cosmetics is less likely to witness impressive expansion, lest manufacturers shift their focus towards adoption of organic materials in production. The colour cosmetics market is projected to grow to more than US$ 80 billion in 2022, reflecting a moderate CAGR during the forecast period (2017-2022).
Opportunity in Facial Make-up and Hair Colour in Colour Cosmetics Market
The facial make-up segment in the colour cosmetics market is anticipated to grow from under US$ 7 billion in 2017 to almost US$ 8.7 billion in 2022 with a CAGR of 4.6%. A market opportunity of more than US$ 3 billion in 2017 makes the APEJ region particularly attractive with respect to facial make-up products in the colour cosmetics market and companies are advised to devise their strategies keeping this in mind. The hair colour segment has a similar market opportunity as the facial make-up segment in the colour cosmetics market and it is estimated to be worth a little under US$ 6.5 billion in 2022. Even though APEJ is the largest contributor to the hair colour segment of the colour cosmetics market, companies may wish to target North America as the continent has a higher CAGR of 4.1% for the period 2017-2022.
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Hypermarkets and Retailers Clear Winners in the Colour Cosmetics Market
In terms of sales channels, hypermarkets and retailers are clearly the preferred mediums in the colour cosmetics market. Together, they comprise slightly more than 4/5th revenue share and are likely to remain dominant for some time. The hypermarket segment should benefit from an infrastructural push that is especially prominent in emerging economies in the APEJ region and the 5.5% CAGR from 2017 to 2022 coupled with the potential market opportunity of US$ 18 billion is testament to this. Retailers are nonetheless giving a tough fight to the hypermarket channel and this sale channel might grow by US$ 5 billion in the five year timeframe. Retail is particularly strong and well-developed in Europe and North America.
E-commerce the Future of the Colour Cosmetics Market
The online stores segment is still a comparative minnow in the colour cosmetics market that accounts for a mere 11.6% revenue share in the year 2017. However, there is no reason why it cannot become more influential in the days ahead as Internet connectivity improves and online shopping becomes second nature to all customer demographics, just as it already is to the generation of digital natives.
Competition Tracking
L'Oréal S.A., LVMH Moët Hennessy Louis Vuitton S.E., Unilever N.V., Avon Products, Inc., The Estée Lauder Companies Inc., Shiseido Company, Limited, Coty, Inc., Revlon, Inc., Chantecaille Beaute Inc., and Procter & Gamble are key players profiled in the report, and are expected to remain active in the expansion of global color cosmetics market through 2022.
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