Color cosmetics are the colorants and pigments ingredients which are intend to impart color to the cosmetic and personal care products such as facial make up, nail care products, lip care products, and eye make-up products. These products are available at aexclusive brand outlets, specialty stores, supermarkets, and online channels. Color cosmetics can be prepared synthetically or with natural ingredients. Natural ingredients such as bamboo, seaweed, venom, and Tremella mushrooms are the most common type of color cosmetics used.
Growing spending on personal grooming due to the growing purchasing power of the consumer is the prime factor fueling market growth. Also, expanding digital marketing is further playing very important in spreading awareness regarding beauty products. Moreover, key players are collaborating with the social media influencers for their marketing strategies which are expected to shift the consumer behavior towards the online shopping portals. For instance, in July 2015, L’Oréal Paris amps up brand awareness with new digital partnership to boost its digital marketing strategy and brand awareness efforts by implementing an integrated social advertising program on Facebook.
From the geographical analysis, Europe is expected to gain significant growth in the near future on the account of high consumption of cosmetic products across such as Germany, France, the U.K., Poland, and Spain. These countries have emerged as the largest market for color cosmetics. Moreover, According to the Mintel Press Office, in 2018, the UK was the leading European market for ‘clean’ color cosmetics launches. Mintel also reveals that the UK was the 4th biggest color cosmetics market globally, valued at an estimated £2.1 billion in 2018.
On the flip side, strict government rules and regulation regarding the approval of the color cosmetics products is the prime factor curbing the market growth.
Key Developments:
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