Colour Cosmetics Market Global Industry Trends, Sales Revenue, Industry Growth, Development Status, Top Leaders, Future Plans and Opportunity Assessment 2027
Colour Cosmetics Market size is expected to reach USD 91,779.1million by 2027, exhibiting a CAGR of 3.6% during the forecast period. Thegrowing awareness about cosmetic products coupled with evolving lifestyles ofconsumers will contribute positively to the growth of the market, statesFortune Business Insights, in a report, titled “Colour CosmeticsMarket Size,Share & COVID-19 Impact Analysis, By Target Market (Prestige Product, andMass Product), By Distribution (Offline, and Online) By Application (NailProduct, Hair Product, Lip Product, Face Product, and Others), and RegionalForecast, 2020-2027.” The market size stood at USD72,376.2 million in 2019.
The entire world is fighting with the COVID-19 pandemic, which hasseverely disrupted trades across the globe. The authorities of severalcountries have initiated lockdown to prevent the spread of this deadly virus.Such plans have caused disturbances in the production and supply chain. But,with time and resolution, we will be able to combat this stern time and getback to normality. Our well-revised reports will help companies to receivein-depth information about the present scenario of every market so that you canadopt the necessary strategies accordingly.
The colour cosmetics market highlights a grand study of themarket, it sheds on vital facts and figures. It also offers authoritative dataabout dominant regions, policies adopted by governments and companies. Besides,providing a brief overview of the market with future insights. The report alsoencompasses key factors exhibiting growth. In addition, COVID-19 impact is alsocovered in the report.
Market Driver:
Significant Demand for Organically Produced Cosmetic Products toAid Growth
The increasing cognizance about organic products made from naturalsubstitutes in the cosmetic industry will spur opportunities for the market.Moreover, the growing demand for vegan products among beauty and skin consciousconsumers will foster healthy growth of the market. Thus, the increasingproduction of chemical-free cosmetic products will consequently enable speedyexpansion of the market. The shift from chemical-based to organic products madefrom natural ingredients will promote the growth of the market. Furthermore,the rising disposable income has resulted in heavy demand for colour cosmeticproducts, hence boosting the market.
Interrupted Import/Export Activities to Retard Business AmidCoronavirus
The coronavirus pandemic has critically hampered the import andexport activities of cosmetic products. The disrupted cosmetic industry hasexperienced a massive loss owing to the coronavirus. According to the McKinseyreport, in China, the cosmetic industry declined by up to 80% in February, andin March, a 20% decline was seen on a year-on-year basis. Moreover, the drop-inretail sales have led to impediment for the market. However, the onlinepurchase of cosmetic products has escalated due to the lockdown, which, in turn,will aid the market. Besides, the temporary closure of beauty salons willdrastically affect the global market during the forecast period.
Regional Analysis:
Improving Economic Conditions to Influence Growth in AsiaPacific
The market in Asia Pacific is expected to dominate the globalmarket during the forecast period owing to the growing demand for skin careproducts in developing countries such as China, Japan, and India. The improvingeconomic conditions have resulted in high demand for cosmetic products in theregion. The surging middle-class population will contribute positively to thegrowth of the market in Asia Pacific. Europe is expected to hold a significantshare in the global market owing to the high demand for premium cosmeticproducts. Germany accounts for a high share due to the high consumption ofcosmetic products in the region.
List of Top Players Profiled in the Colour Cosmetics Market are:
- L'Oréal S.A (Clichy, France)
- Unilever (London, UK)
- Avon Products Inc. (London, UK)
- Estée Lauder Inc (New York, U.S.)
- Shiseido Company, Limited (Tokyo, Japan)
- Revlon, Inc. (New York, U.S.)
- Coty Inc. (New York, U.S.)
- Amway (Michigan, U.S.)
- KRYOLAN (Berlin, Germany)
- CIATÉ (London, UK)
- Procter & Gamble (Ohio, U.S.)
- Other Key Players
Key Development:
April 2020: Avon announced the launch ofthe second batch of K-beauty products due to the success of the trendcollection of the first batch in the previous year. This K-beauty range hasmade Avon’s partnership with Korean manufacturers and enabling to bringinnovative products and formulas with authentic ingredients to customers fromvarious regions.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/colour-cosmetics-market-104305
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