According to a new report published by Allied Market Research, titled, Color Cosmetics Market by Target and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The global color cosmetics market was valued at $5,875 million in 2016, and is projected to reach at $9,555 million by 2023, registering a CAGR of 7.4% from 2017 to 2023.
Surge in demand for color cosmetic products across the globe drives the growth of the global color cosmetics market. Asia-Pacific contributed the highest share in 2016, and will maintain its dominance throughout the forecast period.Color cosmetics manufactrurers across the globe have halted their production activities due to disrupted supply chain amid lockdown due to Covid-19 pandemic.
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Based on target market, the mass product segmentcontributed to the largest share in 2016and is estimated to maintain its dominant position during the forecast period. In addition, itis also estimated to portray the highest CAGR of 7.9% during the forecast period.
Based on application, the facial make upsegmentaccounted for the largest share in 2016, holding nearlytwo-fifthsof the total share, and is expected to maintain the largest share throughout the forecast period.
Based on region, Asia-Pacific and LAMEA collectively contributed about halfof the total market sharein 2016, and will maintain its dominance throughout the forecast period.However, Asia-Pacific isexpected to grow at the highest CAGR of 7.6% from 2017 to 2023.
Covid-19 scenario:
• The manufactrurer shave halted their production activities due to disrupted supply chain amid lockdown all across the globe.
• The demand for color cosmetics is expected to decline during Covid-19 pandemic due to stringent regulations to prevent transmission of Covid-19.
• The buying behaviour of consumer has also impacted the market, as people are spending more money to buy personal care products such as handwash, soaps, hand sanitizers rather than on cosmetic products.
Get detailed COVID-19 impact analysis on the Color Cosmetics Market @https://bit.ly/3b27BMC
Leading market players analyzed in the research include L’Oreal Group, Unilever N.V.,The Estée Lauder Companies Inc.,Avon Products, Inc., Shiseido Co. Ltd., Kryolan Professional Make-Up, Coty Inc.,ChantecailleBeaute Inc.,Revlon Inc., and Ciaté London.
Key Findings of the Color Cosmetics Market:
• Asia-Pacific is expected to maintain its dominant position in the global market during the forecast period, followed by Europe.
• The mass products segment generated the highest revenue in 2016, and is projected to grow at a CAGR of 7.9% during the forecast period.
• The facial make up segment dominated the global market accounting for approximately two-fifths share.
• LAMEA accounted for approximately one-eighth share of the global market in 2016.
• The Asia-Pacific color cosmetics market is anticipated to grow at the highest CAGR of 7.6%.
• North America accounted for approximately one-fourth share in the global market, and is expected to grow at a CAGR of 7.1%.
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