Cosmetic Pigments Market Expected to Reach $4.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cosmetic Pigments Market," The cosmetic pigments market size was valued at $2.1 billion in 2022, and is estimated to reach $4.5 billion by 2032, growing at a CAGR of 7.8% from 2023 to 2032.

Cosmetic pigments are used to give cosmetics and other personal care items a pleasing color and to enhance their visual appeal. Cosmetic pigments have several advantages, including durability of color, opacity & transparency, safety, and others. For cosmetic pigments to retain their intended color over time, they must be stable in various conditions, including exposure to light, heat, and chemicals. These colors must adhere to safety standards and be authorized for use on the skin and other pertinent surfaces. In addition, while certain pigments are semi-transparent or translucent, others are opaquer. The intensity of a pigment's color and its capacity to be built up in layers depend on how opaque it is.

The personal care sector has been undergoing constant change, with trends in favor of more creative and varied cosmetic products. This covers the use of diverse pigment kinds to make distinctive and individualized cosmetic goods. The goal of developing new pigment technology is to offer innovative effects, increased longevity, and better compatibility with formulations. In addition, there is a growing interest in makeup and beauty trends as a result of the expansion of social media platforms. Because of this, more customers are experimenting with different effects and colors, which is increasing demand for more distinctive pigments.

Concerns regarding the safety of cosmetic goods are growing among consumers. When pigments have undergone comprehensive testing for any potential allergic responses or skin sensitivities and have been found to be safe for use on the skin, consumers are more likely to believe in and support the development of those pigments. The growth in demand for advanced and special effect cosmetic products is causing an increase in usage of different sort of artificial as well as natural colorant, in some cases the combination of both may be reactive to the skin, thus a proper regulatory guideline is required to control the same. This would lead to different regulatory compliance & monitoring, further hampering the cosmetic pigments industry revenue growth.

Consumers are more aware regarding the potential health risks associated with synthetic pigments, including allergies and skin irritations. The use of natural colors derived from minerals, plants, and animals is frequently considered to be safer than synthetic alternatives. As the importance of sustainability rises, consumers are looking for products with a lower environmental impact. Consumers that care about the environment are more likely to purchase natural pigments because they can frequently be sourced sustainably and degrade into harmless substances. This factor is expected to increase demand for organic pigment during the forecast years.

The cosmetic pigments market share is segmented on the basis of composition, type, application, and region. By composition, it is segmented into inorganic pigments and organic pigments. By type, it is classified into surface treated pigments, nano pigments, special effect pigments, and others. By application, it is segmented into facial makeup, eye makeup, lip makeup, hair dye & hair coloring, nail care, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America.

The key players profiled in the cosmetic pigments market analysis include Merck, BASF SE, Koel Colors, Sudarshan Chemical, DIC Corporation, Sun Chemical, SENSIENT COSMETIC TECHNOLOGIES, NEELIKON, Lanxess, and Clariant.

The report offers a comprehensive analysis of the global cosmetic pigments market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Cosmetic Pigments Market

• The pandemic led to disruptions in global supply chains due to lockdowns, travel restrictions, and factory closures. This impacted the availability of raw materials, including cosmetic pigments, causing delays in production and distribution.
• As people focused more on skincare and self-care during the pandemic, there was a shift in consumer preferences from makeup to skincare products. This shift affected the demand for color cosmetics, including those that use cosmetic pigments.
• The cosmetic industry had to adapt to new health and safety regulations, including those related to manufacturing, packaging, and distribution. This affected the production processes of cosmetic pigments and the overall formulation of cosmetic products.

Key Findings of the Study

• Based on composition, the inorganic pigments sub-segment emerged as the global leader in 2022 and the organic pigments sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on type, the surface treated pigment sub-segment emerged as the global leader in 2022 and the special effect pigment is anticipated to be the fastest growing during the forecast period.
• Based on application, the facial makeup sub-segment emerged as the global leader in 2022 and the nail care sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, Asia-Pacific registered the highest market share in 2022 and is projected to maintain its position during the forecast period.