The market for cosmetic pigment is expected to register a CAGR of over 5% during the forecast period. The major factors driving the market studied are increasing demand for cosmetics products in the Asia-Pacific region and the rapidly growing demand for organic pigments. On the flip side, new medical technologies for beauty enhancement are expected to hinder the growth of the market.
- The organic pigments segment is estimated to be the fastest-growing composition type in the cosmetic pigments market over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries, such as China, India, Japan, and South Korea.
Key Market Trends
Increasing Demand from Organic Pigment Segment
- The organic pigment segment is expected to witness a double-digit growth rate during the forecast period.
- The increasing government regulations against the usage of metal pigments in cosmetics is expected to increase the demand for organic pigments across the globe.
- The demand from the lip products and facial makeup segments is expected to be the major driver for the organic pigments in the forecast period.
- Furthermore, organic pigments are generally brighter than the inorganic pigments, thus are increasingly being used in high-performance cosmetics.
- Hence, owing to the above-mentioned factors, the demand for organic pigments is expected to grow at a rapid rate.
Asia-Pacific Region to Dominate the Market
- Currently, the Asia-Pacific region dominates the global market for the cosmetic pigments market. China and Japan are the leading consumers of cosmetic pigments in the region.
- The increasing cosmetic production capacities and consumption in countries, such as China, India, and ASEAN countries, are expected to increase the demand for cosmetic pigments in the region.
- Furthermore, the aging population in Japan and China, as well as a growing middle-class population in the region are expected to increase the demand for usage of cosmetics in the region.
- All these factors are expected to increase the demand for cosmetic pigments in the region during the forecast period.
The global cosmetic pigments market is partially fragmented, with players accounting for a marginal share in the market. Some of the major companies include DIC CORPORATION, Sensient Cosmetic Technologies, LANXESS, ECKART, and Sudarshan Chemical Industries.
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