The cosmetic pigments market is projected to grow from USD 698 million in 2019 and expected to reach USD 1,019 million by 2024, at a CAGR of 7.9%.
The global market for cosmetic pigments is driven primarily by the increasing demand for cosmetic products. Cosmetic pigments are used for manufacturing cosmetic and personal care products for color enhancement. With the growing demand for various cosmetic & personal care products, the use of cosmetic pigments is also increasing.
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Recent Developments
- In June 2019, BASF and siHealth Ltd (UK) announced a strategic alliance, to exclusively market scientifically-based satellite and optronic technologies to the personal care industry globally. This partnership is expected to extend BASF’s offerings, enabling new solutions to the personal care industry.
- In February 2019, Sun Chemical 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. This launch helped the company in strengthening its product offering for personal care applications, such as face powders, body powders, foundation, and other skincare applications
The special effect pigments segment is estimated to lead the cosmetic pigments market, by type, during the forecast period.
Special effect pigments are the fastest-growing segment of the cosmetic pigments market, by type, owing to the presence of a large number of manufacturers of cosmetic pigments. The increasing demand for special effect pigments in cosmetic products such as lip products and eye shadows is expected to drive the market for this type of pigments during the forecast period.
Special effect pigments are used in all types of cosmetic and personal care applications to add color, glitter, luster, and shine. These pigments also help in enhancing the skin tone. Special effect pigments provide cosmetics products with glow and texture improvement benefits.
Based on the region, the cosmetic pigments market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. Europe was the largest market for cosmetic pigments, which accounted for the largest share, in terms of value, in 2018. The cosmetic pigments market in Europe is segmented into Germany, France, the UK, Italy, Spain, and Rest of Europe. The cosmetics & personal care industry in Europe produces high-quality products using advanced technology such as surface treatment and pigment dispersion. The demand for high-quality cosmetic and personal care products is driving the cosmetic pigments market in this region.
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