Expansions and acquisitions is the key strategy adopted by the players to gain traction in the cosmetic pigments market. The strategy of expansions and acquisitions accounted for a share of 56.4% of the total growth strategies adopted by the market players between 2013 and 2017. Leading market players have also adopted the strategy of new product launches.
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Strategic initiatives between 2013 and 2017 were mostly undertaken in Asia Pacific, North America, and Europe. New product launches was the most adopted strategy in Asia Pacific and Europe; this strategy accounted for a share of 43.6% of all the expansions that took place between 2013 and 2017. Companies such as Sun Chemical (US), Sensient Cosmetic Technologies (France), Sudarshan Chemical (India), Merck Performance Materials (US), and BASF SE (Germany) made several expansions to serve customers efficiently and increase their market shares. These companies adopted both, organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product launches to strengthen their foothold in the cosmetic pigments market.
Sun Chemical is a market leader in providing solutions for coatings, printing inks, pigments, polymers, liquid compounds, solid compound, and application materials. The company focuses on the organic growth strategy by innovating new products in its portfolio, which helps in enhancing the presence of the company in the cosmetic pigments market to gain a competitive advantage over other companies. For example, the company launched a new SunSHINE Mystic Black Pearlescent Pigment at in-cosmetics Latin America in 2016. The new pigment could be used to create bold formulations for lipsticks, mascara, eyeliner, eyeshadow, and nail polishes. This has helped the company to expand its product portfolio.
Sensient Cosmetic Technologies is a leading manufacturer and supplier of high-performance colorants and innovative ingredients for makeup, skin care, hair care, personal hygiene, oral care, and fragrance. The company has been expanding its production capacity and product line up. It is focusing on its organic pigment and surface treated pigment segments. For example, in 2014, the company announced the expansion of its current site in Saint Ouen L’Aumône, France. This expansion has helped the company to increase its production capacity, thus, improving the supply chain and dedicate more resources to its R & D to develop a global center of expertise for cosmetics.
Related Reports:
Cosmetic Pigments Market by Composition (Organic, Inorganic), Type (Special Effect, Surface Treated, Nano), Application (Facial Makeup, Eye Makeup, Lip Products, Nail Products, Hair Color Products), and Region – Global Forecast to 2022
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