Cosmetic Pigments Market growth is forecast to enter the growth phase with 7.81% CAGR between 2019 and 2025 forecast period across the beauty industry. Cosmetic Pigments market size is set to reach growth by augmented R&D professionals, indie brand owners of cosmetic products and marketers.
The rising concerns over cosmetically disfiguring, skin pigment irregularities, and skin- aging problems are encouraging cosmetic pigments market OEMs to invest in color-correcting, anti-aging, and sunscreen serums and butter, which opens up long term market growth opportunities.
In addition, the demand for facial beauty balms with specific SPF and color tone is set to push the cosmetic pigments market growth. Accordingly, Facial makeup is set to emerge with strong growth among eye makeup, lip products, nail products, and other key applications of cosmetic pigments over the forecast period.
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Expanding interest in cosmetic pigments for both makeup and personal care products along with increasing interest for new, separated, and premium products are boosting the special effect pigments type market growth. In particular, neon cosmetic pigments for eye contouring palettes and nanomaterials derived cosmetic pigments are among the upcoming market trend.
However, complicated procedures for approval certificates to supply cosmetic pigments as well as stringent FDA approvals across the U.S and European countries are factors challenging the cosmetic pigments market growth.
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Asia Pacific region proceeds cosmetic pigment market growth phase over the estimated period
Growing demand for cosmetic pigments in the formulation of various facial products in particular organic cosmetic pigments is set to trigger the market growth. In addition, higher cosmetic demand, easy availability of raw materials, and low-cost labor makes Asia Pacific the most preferred destination for the manufacturers of cosmetic pigments.
Beauty consumers across Asian countries are prioritizing derma health and safety which drives key investors to formulate natural food-grade cosmetic pigments. Accordingly, Sensient Cosmetic Technologies seeks market opportunity in China, Sensient is set to introduce food-grade cosmetic pigments and showcased its range during 2019 PCHi held in Guangzhou.
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Further, to drive the market growth without any restraints, key market OEMs are tackling cosmetic pigment penetration concerns across Asian customers by introducing protective barrier cosmetic products. For instance, in 2019, Covestro developed a biodegradable film(primer) that addresses concerns among Chinese women about cosmetic pigments seeping into their skin.
Key focus on acquisitions and patents is observed across major cosmetic pigments market players during 2019
Key market players are acquiring cosmetic pigments business of emerging firms and expanding their production capabilities, hence contributing to cosmetic pigments market growth opportunities. For example, in September 2019, the Sun Chemical announced acquisition of BASFs’ colors & effects global cosmetic pigments business, this agreement enhances pigment production facilities of Sun Chemical.
In addition, prominent market share holders are investing in patents to source novel cosmetic pigments ingredients and products. For instance, in October 2019, Procter & Gamble Co. maker of Olay skincare issued a patent for a method of formulating a skin-lightening composition to lighten skin, enhance skin tone or modify skin pigment.
Sun Chemical, Sensient Cosmetic Technologies, Merck, BASF, ECKART, Sudarshan, Kobo Products, Clariant, Geotech, and Venator are among key market players holding the macro cosmetic pigments market share during the estimated period.
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