Cosmetic Pigments Market Size Expands at CAGR of 8%
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global cosmetic pigments market size at USD 2.25 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global cosmetic pigments market size to grow at a CAGR of 7.91% reaching a value of USD 3.83 billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global cosmetic pigments market size at USD 2.25 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global cosmetic pigments market size to grow at a CAGR of 7.91% reaching a value of USD 3.83 billion by 2029. Major growth factors for the global cosmetic pigments market include a spurring demand for cosmetics and personal care products and an increasing number of research and development (R&D) activities to launch new products, including men’s grooming products, and to enhance existing portfolio of cosmetic products. Furthermore, the expanding scope of environmentally friendly and sustainable product ingredients owing to rising consumer consciousness is anticipated to increase the global cosmetic pigments market growth during the forecast period.
Global Cosmetic Pigments Market – Overview
Cosmetic pigments are a particular class of chemicals that cannot be dissolved in water. They are used as coloring agents in a variety of cosmetic formulations, including lipsticks, nail polish, hair dye, eye makeup, and other cosmetic goods. Cosmetic pigments come in two varieties: organic and inorganic. The three primary groups of organic colors include lakes, artificial dyes, and plants. Mineral compounds such as oxides, mica, and ultramarine make up the majority of the ingredients in inorganic pigments.
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Global Cosmetic Pigments Market
Segmental Information
Global Cosmetic Pigments Market – By Type
Based on type, the global cosmetic pigments market is segmented into special effect pigments, surface-treated pigments, nano pigments, natural colorants, and others. The surface-treated pigments hold the largest share of the global cosmetic pigments market. The growth of this segment is mainly attributed to its favorable characteristics, such as its chemical constitution, better absorption, and dispersibility. Surface-treated pigments can facilitate easier mixing and spreading on the skin to give liquid formulas a smooth, moist finish, which positively influences their market growth.
Impact of COVID-19 on the Global Cosmetic Pigments Market
The global cosmetic pigments market witnessed a setback during the unprecedented COVID-19 pandemic. The manufacturing operations were temporarily shut down during the lockdown. Furthermore, R&D activities were also halted due to the high risk of virus transmission among researchers and the shift of resources towards vaccine development. The closure of shops and lack of demand for cosmetics during the pandemic due to the remote working culture also resulted in huge losses during the COVID-19 period. However, a surge in e-commerce platforms post-COVID-19 is anticipated to increase the demand for cosmetics among consumers, influencing the global cosmetic pigments market.
Competitive Landscape
Major players operating in the global cosmetic pigments market include Sun Chemical, Sensient Cosmetic Technologies, Merck, ECKART, Sudarshan, Kobo Products, Clariant, Venator, Geotech, and LANXESS.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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