Increasing demand for cosmetic pigments in personal care products driving the Market

Cosmetic pigments possess characteristics such as bright and brilliant luster, shimmer, and shine. These pigments are colored, colorless, or fluorescent particulates. They can be organic or inorganic finely powdered solids. They are usually insoluble and are also chemically unaffected by the medium in which they are incorporated. They are used in a wide range of applications such as facial makeup, lip products, eye makeup, and nail products. The use of cosmetic pigments, especially pearlescent pigments, in facial makeup help cover blemishes and uneven skin tone. This has increased the demand for pearlescent pigments that are widely used in root makeup products. The demand for cosmetic products that match the natural skin tone of the consumer is rising with increasing product differentiation in the cosmetics & personal care industry. The demand for cosmetic pigments is increasing in emerging economies such as India, China, and Brazil. The cosmetics market in India is growing at a rate of 20% annually, which is much faster than that of the cosmetics market in North American and European countries. This rapid increase in the demand for cosmetic and beauty products is fueling the use of cosmetic pigments.

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APAC is the fastest-growing market, in terms of both production and demand. Higher domestic demand, easy availability of raw materials, and low-cost labor make APAC the most preferred destination for the manufacturers of cosmetic pigments. The use of cosmetic pigments as an important additive in various applications such nail products, lip products, eye makeup, facial makeup, hair color products, special effect & special purpose as is driving the market in China. APAC is emerging as a leading consumer of cosmetic pigments due to the increasing demand from domestic as well as international markets.

The market size of cosmetic pigments is estimated at USD 698 million in 2019 and projected to reach USD 1,019 million by 2024, growing at a CAGR of 7.9%. The global cosmetic pigments market is driven by the growing demand from color cosmetic and personal care applications. Increased need for product differentiation and growing awareness about the improved appearance of products are boosting the market.

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 key players in the cosmetic pigments market include Sun Chemical (US), Sensient Cosmetic Technologies (France), Merck (Germany), BASF (Germany), ECKART (UK), Sudarshan (India), Kobo Products (US), Clariant (Switzerland), and Geotech (Netherlands). These players have established a strong foothold in the market by adopting strategies such as expansion, new product launch, and merger & acquisition.

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