Rockville, WA -- (SBWIRE) -- 07/06/2018 -- The global color cosmetics market is anticipated to witness growth due to rising trend of consumer preference for green and organic products. Color cosmetics are widely used to enhance the appearance of consumers with their attractive shades. Color cosmetics are manufactured from chemical compounds to get the desired color. However, these chemicals can affect adversely the health of consumers. Nevertheless, cosmetic colors can be developed from natural sources as well. Advantages of color cosmetics manufactured from natural sources and rising awareness about harmful effects of using chemicals in cosmetics are pushing the growth of the global color cosmetics market. This trend is expected to continue for the next few years and create potential opportunities for players and new entrants of the market.

The global color cosmetics market is anticipated to grow more than a US$80 bn by the end of 2022 with a moderate CAGR over the forecast period 2017-2022.

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Need to Maintain Overall Appearance to Increase Uptake of Color Cosmetics

Growing disposable income is a powerful factor responsible for the growth of the world color cosmetics market. Rising concern regarding overall appearance is also expected to expand the growth of the beauty and personal care industry. High demand for color cosmetics to reduce age-related skin problems is another key factor giving momentum to market growth. Additionally, improved quality of life has changed consumer preferences to natural ingredients to be used in cosmetics, which could aid the market to achieve growth. Besides this, effective product advancement is anticipated to support the growth of the market.

On the basis of product type, the world color cosmetics market is dominated by lip care products followed by facial makeup products among nail, hair color, eye makeup, and other products. Lip care products are accounting for a 40% share of the total market revenue and could be worth a US$33 bn by the end of 2022 owing to their high adoption mainly from women.

On the basis of sales channel, the world color cosmetics market is segmented into hypermarkets, retailers, online stores, and other retails. Among them, hypermarkets are dominating the market and predicted to remain dominant in the coming years. The segment is expected to register growth with a CAGR of 5.5% due to high preference for purchasing color cosmetic products and their easy availability in such stores.

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Growing Hygiene Awareness to Boost Demand for Color Cosmetics in APEJ

The global color cosmetics market could be dominated by Asia Pacific excluding Japan (APEJ) followed by Europe and North America. This growth could be attributable to high disposable income of consumers and increased awareness among people belonging to the middle-income class. However, the market in North America is expected to witness faster growth over the forecast period. The growth in APEJ could be characterized by changing preferences of consumers. Moreover, rising awareness of personal hygiene in developing countries such as China and India is supporting the revenue of the APEJ market, which is anticipated to continue its dominance in the future years.

Some of the key players operating in the global color cosmetics market are L'Oréal S.A., Unilever N.V., Avon Products, Inc., LVMH Moët Hennessy Louis Vuitton S.E., and The Estée Lauder Companies Inc.

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