Cosmetic Pigments Market to be Valued US$ 960 Million by 2026
The market size of cosmetic pigments is estimated at USD 645 million in 2021 and is projected to reach USD 960 million by 2026, growing at a CAGR of 8.3%. Cosmetic pigments mostly are used in numerous facial makeup products. The increasing demand for root makeup products such as foundations and face powders is expected to drive the market in this application segment.
The cosmetic pigments market is witnessing significant growth globally due to the increasing demand for better quality cosmetic products, easy availability of products, new pigment launches in various types, a growing number of working women, and rising disposable income in emerging markets such as Asia Pacific and South America.
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The rise in the GDP of emerging economies such as China, India, and Brazil are expected to improve the standard of living in these countries. With the increase in income level and improvement in consumer lifestyle due to the acceleration of urbanization, the demand for cosmetic and personal care products is expected to witness significant growth. Currently, several big players in the cosmetic pigment market are focusing on organic growth strategies. They are shifting their focus to developing economies (such as India and China) to gain more market share.
Surface-treated pigments are expected to dominate the market, in terms of value, during the forecast period. These pigments are treated to alter the shape and size of the particles to achieve better absorption, chemical constitution, and dispersibility characteristics. Pigments, in general, have a hydrophilic surface that results in poor wettability, bad skin feel, and lack of chemical stability, among other issues. Surface-treated pigments help in solving these problems. Surface-treated pigments improve the ability of the product to disperse in various media and change the oil absorption of the cosmetic product. Methicone & dimethicone-treated, alkyl silane-treated, oregano titanate-treated, and cross polymer-treated are the different types of surface-treated pigments.
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Facial makeup was the largest and anticipated to be the fastest-growing application of cosmetic pigments market. Cosmetic pigments find use in a wide range of applications such as foundation, blushes, bronzing lotions, creams, powders, loose & pressed powders, and mineral powders. The increasing demand for root makeup products such as foundations and face powders is expected to drive the market in this application segment.
Asia Pacific is likely to be the fastest-growing market, in terms of both production and demand. China is the leading consumer of cosmetic pigments owing to the presence of a developed color cosmetic & personal care sector, high domestic demand, and easy availability of raw materials. Asia Pacific is the most viable choice for manufacturing cosmetic pigments due to the availability of low-cost labor and growing demand from end-use industries.
Apart from China, Japan, and India are the major markets for cosmetic pigments owing to the growing demand for facial makeup. Increasing opportunities from the color cosmetic industry in China, Japan, and India, along with the rising demand from other countries, including Taiwan and South Korea, are expected to support the Asia Pacific cosmetic pigments market.
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The key players in the cosmetic pigments market include Sun Chemical (US), Sensient Cosmetic Technologies (France), Merck (Germany), ECKART (UK), Sudarshan (India), Kobo Products (US), Clariant (Switzerland), and Geotech (Netherlands).
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