The global colour cosmetics market is dictated by a panoply of factors. From colour authority institutes emphatically stating colour trends to beauty magazines popularising cosmetic products, the demand for colour cosmetics remains fairly influenced. In the global scheme of things, companies rely on shifting ideas of beauty standards that are quickly adopting a big tent approach to welcome everyone, transcending the boundaries of gender and colour binaries. In this climate, Fairfield Market Research predicts the demand for colour cosmetics is likely to see a phenomenal rise as palettes expand their range of colours to suit skin tones, remain relevant to trends, and embrace the classics.
Demand for Wider Range of Skin Tones Ups Game for Global Colour Cosmetics
Balancing the act between fashion trends and art, the global cosmetics industry has been pivotal in defining consumer culture. However, to stay relevant to an ever-changing cultural context, cosmetic colours have evolved to factor in complexions from almond to toffee. The effort to be inclusive has widened the scope for the global colour cosmetics market.
For instance, in 2017, Fenty Beauty launched 40 different make-up colours, which fanned the conversation about beauty products for all, thereby increasing the use of colour cosmetics spectrum of users earlier left out. As a result, this has led to brands such as KKW Beauty, Tarte Cosmetics, and Benefit’s Cosmetics LLC using varied shades to lure in consumers across communities and social groups. Analysts predict that foundation will be a leading product in the global colour cosmetics market as the growing number of men and people identifying under different pronouns are also expected to invest in grooming products.
Personalised Colour Cosmetics Widens Revenue-Earning Possibilities
The global colour cosmetics market has been changing with the ongoing trend of personalised makeup that remains committed to offering products to suit current market trends. Custom-blends, specifically made to suit complexion or desired shade, have become a new rage amongst consumers. Made with technology that scans skin tones and blends a product to 100%, the market is making quick moves towards widening horizons. For instance, L’Oréal Perso intends to use the technology to make personalized foundations and lipstick formulas. The use of colour-matching technology will allow end users to match shades with outfits and ongoing trends, increasing the scope of application for the global colour cosmetics market by the end of the forecast period.
"Lipsticks Effect" Spells Gains for Global Colour Cosmetics Market
The lipstick segment is expected to make a monumental gain between the forecast years of 2021 and 2025. With COVID-19, the cosmetic sales plummeted as spending habits changed. However, lipstick sales are expected to soar as masks come off. The current trend in the lipstick segment will challenge the notion of the “lipstick effect” seen earlier during the 2008 recession. Demand dense, darker shades and neutral tones will see significant demand in the near future. Dictated by affordable luxuries striking lipstick shades will change the game for the global colour cosmetics market.
K-Beauty Trends Underpin Demand for Colour Cosmetics
Geographically, North America and Europe have dominance in the global colour cosmetics market. The strong presence of key players and established luxury cosmetic companies in the developed economies have given the regions an advantage over others. In addition to conventional colour cosmetics, the demand for organic cosmetics with coloured pigments is also expected to see a demand. Product innovation, marketing strategies, and social media campaigns of inclusivity are expected to bode well for the North America and Europe colour cosmetics market.
Meanwhile, the Asia Pacific colour cosmetics market is also expected to see an upward development between 2021 and 2025. A large volume of Millennials and Generation Z recognising expression through beauty products has taken the market by storm. The unprecedented reach of social media has had a phenomenal effect on the demand for colour cosmetics. Trends such as K-beauty that lean towards gloss-finish and glitter will demand colour pigments for a wide range of products in the foreseeable future.
Global Colour Cosmetics Market: Key Players
Some of the key players operating in the global colour cosmetics market are LVMH Moët Hennessy Louis Vuitton SE, Natura Cosméticos S.A., The Colgate-Palmolive Company, Procter & Gamble Co., AmorePacific Corporation, Mary Kay Inc., Henkel AG & Co. KGaA, KOSÉ Corporation, and L Brands Inc.
Key Elements Included In The Study: Global Colour Cosmetics Market
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