According to the report, the global cosmetic pigments market generated $2.1 billion in 2022, and is anticipated to generate $4.5 billion by 2032, witnessing a CAGR of 7.8% from 2023 to 2032.
Prime Determinants of Growth
Increasing demand for essential cosmetics products such as foundations and compacts is expected to drive the growth of the global cosmetic pigments market in the forecast period from 2023 to 2032. However, stringent rules limiting the use of certain cosmetic pigments may hamper the cosmetic pigments market growth in the coming future. On the contrary, consumer demand for environmentally friendly and sustainably produced compounds in cosmetic and personal care items is expected to offer remunerative opportunities for the expansion of the cosmetic pigments market during the forecast period.
Composition: Inorganic Pigments Sub-segment to Hold Highest Share by 2032
The inorganic pigments sub-segment of the global cosmetic pigments market accounted for the highest share of 63.9% in 2022 and is projected to dominate the market during the forecast period. The prominent growth of the sub-segment is mainly because inorganic pigments are usually employed in cosmetics when color stability and safety are important. They are well-known for their durability, resistance to fading, and wide range of color options.
Type: Surface Treated Pigments Sub-segment to Hold Majority of Market Share by 2032
The surface treated pigments sub-segment accounted for the highest share of 42.3% in 2022 and is projected to dominate the market during the forecast period. The significant growth of the surface treated pigments sub-segment is mainly because surface treatment helps to avoid pigment deterioration caused by light, moisture, heat, and chemical interactions.
Application: Facial Makeup Sub-segment to be the Most Dominant During the Forecast Period
The facial makeup sub-segment accounted for the highest share of 38.8% in 2022 and is anticipated to dominate the market during the forecast period. The prominent growth of the sub-segment is mainly due to increased demand for core cosmetic products, including foundations, face powders, and blushers.
Region: Asia-Pacific Market to Grab Highest Share by 2032
The cosmetic pigments market in the Asia-Pacific region accounted for the highest share of 41.4% in 2022 and is expected to dominate the global market during the forecast period. This growth is mainly because of the region's significant use of skin-whitening procedures, which fuels the demand for cosmetic pigments.
Leading Players in the Cosmetic Pigments Market:
- Merck
- Sun Chemical
- SENSIENT COSMETIC TECHNOLOGIES
- BASF SE
- DIC Corporation
- NEELIKON
- Lanxess
- Sudarshan Chemical
- Clariant
- Koel Colors
The report provides a detailed analysis of the key players of the global cosmetic pigments market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
