Inorganic Cosmetics Pigments Market Share | Key Findings, Company Profiles, Comprehensive Analysis, Development Strategy
Market Highlights
Theglobal inorganic
cosmetic pigments market share is estimated to be valued at USD 7,207.32
million by 2027and register a CAGR of around 6.8% during the forecast period.
The global
inorganic cosmetic pigments marketis expected to witness a surging growth in
the coming assessment period owing to its widespread usage in cosmetics and
personal care industry.The extensive use of various inorganic cosmetic pigments
such as titanium dioxide, iron oxide, chromium oxides, and zinc oxide in the
cosmetics industry and the various advantages offered by their use are the
major factors driving their adoption. However, factors such as stringent
regulations and price volatility of key raw materials hamper the growth of the
market. Nevertheless, projected rise in demand for inorganic cosmetic pigments
in emerging economies and continuous expansion and product launch by key
manufacturers is likely to bring lucrative opportunity for the growth of the
market in the forecast period. In addition to this, the outbreak of Covid-19
has severely impacted the global market owing to the shutting down of factories,
reduction in labor, and decline in production output. However,with the lift of
lockdown measures and trade restrictions, the demand is expected to gain pace
and drive market growth.
Segmental Analysis
According to MRFR
analysis, the global inorganic cosmetic pigments market share has been
segmented based on type, application,and region.
Based on type, the
global inorganic cosmetics pigments market has been segmented into titanium
dioxide, iron oxide, chromium oxide, mica, zinc oxide, ultramarines, and others.
The titanium dioxide segment accounts for largest share of over 30% in the
global market in 2019. The growth is attributed to its wide application and
high consumption in the facial and nail segment of the growing cosmetics
industry.Further, titanium dioxide is expected to gain a traction in the coming
years with CAGR over 7.5% from 2020 to 2027.
Based on
application, the global market has segmented into facial make-up, lip products,
eye make-up, nail products, hair color products, and others.The facial make-up
segmentaccounted for the largest market share of around 30% in the global
market in 2019. The growth is mainly attributed to the growing consumption by
working women and rising consciousness about physical appearance among
millennial women. Further, it is expected to witness a healthy CAGR of over 7%
between 2020 and 2027.
Regional Analysis
Geographically, the
global Inorganic Cosmetic Pigments Market Share has
been segmented into North America, Europe, Asia-Pacific, Latin America, and
Middle East & Africa. As per MRFR analysis, Asia-Pacific region dominated
the global market, accounting for the largest share of around 44%in 2019and is
expected to register a CAGR around 7.5% during the forecast period. The market
growth can be attributed to the high availability of raw materials, cheap
labor, rapid industrialization, and commercialization in the region, especially
with the growth of the personal care industry. North Americais followed by
Asia-Pacific, which accounted for the second-largest share of the global
inorganic cosmetic pigments market in2019 and recorded significant growth with
CAGR around 7% over the forecast period. Europe region is expected to witness
moderate growth, with CAGR around5.5% over the forecast period. Latin America
and the Middle East and Africa markets are also likely to witness notable
growth with CAGR around 6% during the forecast period, 2020–2027.
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Key Findings of the
Study:
- The
global inorganic cosmetic pigments market is estimated to be
valued at around USD 4,600million in2019 and is expected to
register a CAGR of around6.8% to reach around USD 7,200 million by the
end of 2027.
- Based
on type, the titanium dioxide segment held the largest share
of over30% by value in 2019 and is expected to register a
CAGR of around 7.5% during the forecast period.
- Based
on application, the facial make-up segment held the largest
share of around 30% by value in 2019 and is expected to
register a CAGR of around7% during the forecast period.
- Asia-Pacificaccounted
for the largest share in the global market ofaround 44% by
value in 2019.
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