The cosmetic dye market is expected to register a CAGR of over 4% during the forecast period. Increasing demand for cosmetic products is driving the market. On the flip side, stringent regulatory policies related to its usage and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- The hair color products segment is expected to dominate the cosmetic dyes market over the forecast period.
- Growing awareness among the consumers related to the benefits of natural and eco-friendly dyes in cosmetic products is likely to offer various new opportunities for the growth of the cosmetic dyes market over the forecast period.
- The Asia-Pacific region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.
Key Market Trends
Hair Color Products Segment to Dominate the Market
- Among the application segment, hair color products are projected to dominate the consumption of the cosmetic dyes market.
- Hair color products are used to alter the color of hair. Hair color is widely used by the consumers to either cover the graying of hair or for coloring the hair with varied colors for fashion.
- With consumers experimenting with their hair color, as it is currently very much in trend, the production of hair color products has also been increasing.
- The demand for high-end hair colors is further attracting cosmetic brands into the production of hair color products, further contributing to the demand for cosmetic dyes.
- As in developed countries, such as the United States, and other European countries, hair coloring products market has already been at the matured stage, the consumption and production are rapidly increasing in the developing Asia-Pacific region.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.
- The demand for cosmetic dyes is widely driven by the increasing demand for and production of cosmetic and personal care products in the region in the past few years.
- Increased influence of western culture leading to millennials sections adapting to the use of cosmetic products, growth in women employment causing need to look presentable, and growing cosmetic product line for males are some of the factors that increased the demand for and production of cosmetic products in the region.
- With this, the demand for cosmetic dyes to provide color in hair color, makeup products, lipsticks, shampoos, and conditioners has also been on the rapid rise simultaneously.
- Besides, China, South Korea, India, and Japan are some of the major global countries engaged in the production, consumption, and exports of cosmetic products in the region.
- Owing to the increasing demand for cosmetics, the market for cosmetic dyes is expected to rapidly increase over the forecast period.
The cosmetic dye market is fragmented in nature. Some of the key players in the market include Sensient Cosmetic Technologies, Clariant, DyStar, Organic Dyes and Pigments, and Goldmann Group, among others.
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