Global Cosmetic Pigments Market Size, Share, Growth Analysis, By Elemental Composition, By Product, By Application - Industry Forecast 2022-2028

Global Cosmetic Pigments Market was estimated to be worth USD 645.0 Million in 2021 and is anticipated to reach USD 1,127.09 Million by 2028, with a CAGR of 8.3% during the forecast period (2022-2028).

According to the most basic definition, a pigment is a material that alters the colour of light reflection and absorption. Cosmetic pigments have a matte or high gloss finish. There are various catalogues with white paints, metallic hues, and shiny and natural-looking tones. The substance considerably improves the visual appeal of the formulations by integrating numerous cosmetic goods, including lipsticks and eye shadow. As the fashion and entertainment industries rise, so will the demand for cosmetic pigments.

The market is being spurred by the superior and effective features of cosmetic pigments, as well as the rapid increase in the number of specialised uses for them around the world. Organic and inorganic pigments are the two types. Metal oxides are used to create inorganic pigments, which are carbon molecules in organic colours. The fundamental role of pigments in cosmetics is to provide the desired colour. Mineral pigments contain iron oxide, mica flakes, coal tar, and other substances. Beetroot powder and cochineal extract are two other examples of natural hues. Waterproof cosmetics are manufactured with insoluble ingredients such as alumina hydrate, cosmetic pigments such as lakes, and dye colours. Inorganic metal oxide pigments are used in cosmetics to provide long-lasting colour.

The need for colour cosmetics is driving the rise of the cosmetic pigments market. On the other hand, market participants face a few obstacles. The fundamental challenge that cosmetic pigment makers face is preserving the quality of cosmetic pigments for mass-market products such as nail paints, lip colours, and eye makeup items. When using raw materials to make cosmetic pigments, the quality of the raw materials must be evaluated. The quality of colour cosmetics produced in large quantities for the mass market is occasionally substandard. The quality of the cosmetic pigment used has a considerable influence on the demand for these very profitable items. Cosmetic pigment producers and processors are required to use only premium pigments.

Top-down and bottom-up approaches were used to estimate and validate the size of global Cosmetic Pigments Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Segments covered in this report:

The Global Cosmetic Pigments Market is segmented on the basis of Elemental Composition, Products, Application, and Region. Based on the elemental composition, the market is segmented into organic pigments and inorganic pigments. Based on the Product, the market is segmented into Special Effect Pigments, Surface Treated Pigments, Nano Pigments, and Natural Colorants. Based on the Application, the market is segmented into Facial Makeup, Eye Makeup, Lip Products, Nail Products, Hair Color Products, Special effect & Special Purpose Products, and Others. Based on the region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

The increasing demand for high-performance pigment will drive the market growth rate. The global need for high-performance and specialty pigments is propelling the cosmetic pigments market. Furthermore, the rising fashion and entertainment sectors are a key factor driving the market for cosmetic pigments. Furthermore, the rapidly rising need for organic pigments and increased infrastructure expenditure on healthcare are market dynamics that will further accelerate the expansion of the cosmetic pigments market. Another key aspect that will restrain the growth rate of the cosmetic pigments market is the increased emphasis of manufacturers on the use of cutting-edge technologies.

Throughout the forecasted period, the market will be driven by the growing trend of men's grooming. The expansion of grooming salons and consumer spending on cosmetics will benefit the cosmetic pigments market. The antiperspirants and pigments used in cosmetics have a high sparkle and matte finish. Cosmetic pigments include natural-looking white pigments, metallic colours, and shimmering pigments. The material is used in a variety of cosmetic items, such as lipsticks and eye cosmetics, to improve the aesthetic appeal of compositions. The rising fashion and entertainment sectors will enhance demand for cosmetics, assisting the cosmetic pigments market to flourish.

Restraint

The market's development rate will be slowed by rigorous restrictions governing the use of specific pigments.

However, the use of particular pigments is subject to severe laws, which will slow the market's rise. Cosmetic pigment manufacturers are obligated to adhere to strict requirements for cosmetics products. Labeling, packaging, and the ingredients used to create products are all subject to numerous regulations. However, the use of specific types of cosmetic pigments in diverse applications is restricted by a number of regulatory criteria imposed by various agencies. This aspect is expected to impede market growth. Emerging medical advancements for aesthetic enhancement will also operate as a restraint, slowing the market's development rate.

Another significant market constraint is quality assurance. The market is expanding as a result of rising demand for colour cosmetic goods. Manufacturers face significant obstacles in producing mass-market items such as nail polish and lip colour.

Concerns about the global economic slowdown, the impact of the Ukraine war, Chinese lockdowns with resurging COVID cases, and the risks of stagflation envisaging various market scenarios are driving the need for Organic and Inorganic Cosmetic Pigment industry players to be more vigilant and forward-thinking.

Market Trends

A shift towards natural and organic ingredient-based products will have a significant impact on the growth of the worldwide cosmetic pigments market. Makeup contains a number of hazardous chemicals. When multiple cosmetic items are used at the same time, these chemicals may have a harmful impact on human health and increase the likelihood of health problems. As a result of increased public interest in cosmetics and market developments in the sector, cosmetics producers are seeking more natural and sustainable cosmetic emulsifiers. Organic pigments are becoming increasingly popular since they are eco-friendly and manufactured in environmentally beneficial ways. Manufacturing companies are investing in and deploying sustainable technology to enter the green market. Cosmetic pigments market players have an opportunity due to rising demand for cosmetic pigments created with natural components and organically from renewable source materials.