The market size of cosmetic pigments is estimated at USD 645 million in 2021 and is projected to reach USD 960 million by 2026, growing at a CAGR of 8.3%. The global cosmetic pigments market is driven by the growing demand from color cosmetics and personal care applications. Increased need for product differentiation and growing awareness about the improved appearance of products are boosting the market.
Cosmetic pigments are used in the production of cosmetic colors, along with various other ingredients. A pigment is a colored or colorless insoluble chemical compound, that gives an added richness of color to the product. Most cosmetic and personal care products use fine dry powdered cosmetic pigments. Pigments used for manufacturing color cosmetic products are termed as cosmetic pigments. Pigments are classified into organic and inorganic based on their chemical composition.
The key players in the cosmetic pigments market include Sun Chemical (US), Sensient Cosmetic Technologies (France), Merck (Germany), ECKART (UK), Sudarshan (India), Kobo Products (US), Clariant (Switzerland), and Geotech (Netherlands). The cosmetic pigments market report analyzes the key growth strategies adopted by the leading market players between 2014 and 2021, which include expansion, new product launch, and merger & acquisition.
Sun Chemical (US) is a member of the DIC group that manufactures and supplies printing inks, coatings & supplies, pigments, polymers, liquid compounds, solid compounds, and application materials. It is one of the leading players in printing inks, coatings, supplies for the packaging, and digital markets. The company is involved in providing quality pigments at competitive prices for the cosmetic industry. It is planning to move swiftly to maximize synergies between the local partner’s marketing capabilities, which will reflect its familiarity with the domestic market. The company is focusing on organic growth strategy by innovating new products to increase its portfolio, which helps in enhancing the presence of the company in various fields to gain a competitive advantage over other companies. For instance, in February 2019, the company introduced its new SpectraFlex illusion pigments for soft-focus effects. SpectraFlex Illusion soft-focus effect pigments are used in daily wear makeup primers to help optically blur fine lines and other imperfections.
