The global color cosmetics market is observing a significant growth due to increasing consciousness among the younger population regarding their appearance, enhanced beauty and personal care sector, innovation of new products, improved quality of life and increase in demand for color cosmetics to reduce age-related skin imperfections. There are several numbers of products and brands that offer a large number of colored cosmetics to consumers.
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On the basis of category, the color cosmetics market is categorized into prestige products and mass products. Among the two categories, the mass product is expected to hold the larger market share during the forecast period owing to pocket-friendly pricing and its large customer base.
The primary factors that are aiding towards the growth of the global color cosmetics market include the increasing awareness among the consumers regarding their appearance and the attractive packaging of these color cosmetics. The booming fashion industry is making the younger population conscious regarding their physical appearance and the offerings introduced by the personal care industry is satisfying the social needs of these consumers.
The increasing demographics and disposable income in developing countries such as China and India are expected to create greater opportunities for global color cosmetic market. Additionally, the continuous expansion in loyalty to the color cosmetic products and the increasing demand for organic cosmetic products and continuous innovation in color cosmetic products is expected to create greater opportunities for this market to grow globally.
The global color cosmetics market is expected to witness the fastest growth in Asia-Pacific. The increasing disposable income of the population, accelerating consciousness regarding appearance and improving quality of life are the major factors contributing towards the growth of the color cosmetics market in this region.
Some of the key players operating in the global color cosmetics industry include Unilever N.V., L'oréal Group, Avon Products, Inc., The Estée Lauder Companies Inc., Shiseido Co. Ltd., Coty Inc., Revlon Inc., Ciaté London, Chantecaille Beaute Inc. and Kryolan Professional Make-Up.
Source: VynZ Research
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