According to a new report published by Allied Market Research titled, "Cosmetic Dyes Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026", the global cosmetic dyes market size was valued at $420.3 million in 2018 and is anticipated to reach $610.1 million by 2026, with a CAGR of 4.9% during the forecast period. The market exhibits an incremental revenue opportunity of $172.3 million from 2019 to 2026.
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The growing demand for facial makeup products along with lakes and toners across working professionals is likely to propel the revenue growth of color cosmetic products. Consumers are purchasing inorganic based cosmetic products as the cosmetic product manufactured with inorganic dyes offers more vibrant and consistent coloring effect over organic dyes. These products are also affordable, readily available and easy to use. Currently, majority of cosmetic manufacturing are using inorganic dyes in certain products range including facial makeup, and lipstick. However, these inorganic dyes based cosmetic products prone to shorter life as compared with organic one.
Changing fashion trends, extension of current product line from leading companies, and effective collaboration between manufacturing are driving the growth of cosmetic dyes market. Companies are collaborating with each through agreements and joint ventures to introduce novel products to cater changing market demand. The effective channel strategies and expansion of digital media has significantly increased the overall demand for cosmetic products. This has resulted into increased spending on latest cosmetic products such as nail polishes, eyeliners, lipsticks, among others. The inorganic dyes segment was valued at $247.8 Mn in 2019 and is expected to reach $323.4 Mn by 2026 growing at a CAGR of 3.9% during the forecast period.
The current supplier base from Asia-Pacific region is targeting product capacity expansion to cater increasing market demand for color cosmetic products. European countries would remain predominant in terms of cosmetic dyes market share owing to strong penetration of premium cosmetic products. Moreover, strong penetration of e-commerce distribution network and availability of international brands in the local market have provided revenue growth for overall cosmetic products. Thereby, increasing the overall demand for raw materials used in cosmetic manufacturing including cosmetic dyes. The Facial Makeup application segment was valued at $149.7 Mn in 2019 and is expected to reach $198.4 Mn by 2026 growing at a CAGR of 4.1% during the forecast period.
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The Cosmetic Dyes Market is segmented on the basis of type, application and region. By type, cosmetic dyes market is categorized into organic dye and inorganic dye. By application, cosmetic dyes market is divided into facial make up, nail products, eye makeup, lip products and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).
According to Shankar Bhandalkar, Team Lead-Research, Consumer Goods at Allied Market Research, “Consumer base from North America and Europe region is spending on premium and latest cosmetic products. Thus, the demand for advanced and more user friendly color cosmetic is likely boost in near future across North America and Europe region. Asia-Pacific countries like South Korea, Japan, China, ASEAN countries had witnessed a transition in terms of spending on cosmetic products owing to increased awareness for skin friendly cosmetic products.”
Key Finding of The Cosmetic Dyes Market:
- The organic dyes segment is expected to grow at a CAGR of 6.0% during the forecast period.
- North America is anticipated to dominate the cosmetic dyes market growth, registering a CAGR of 4.7%.
- Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest of CAGR 5.0%.
- The facial makeup application segment is anticipated to dominate the global cosmetic dyes market analysis, with a CAGR of 4.1% during the cosmetic dyes market forecast period.
- The nail products segment is estimated to grow at a CAGR of 6.4% during the forecast period.
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The key players operating in cosmetic dyes industry include, Sensient Cosmetic Technologies, Neelikon, Pylam, Dystar, Organic Dyes and Pigments, Clariant, Koel Colours, Goldmann Group, Chromatech, and Kolorjet Chemicals Pvt Ltd. Other key players tracked in the value chain are Aakash Chemicals and Dyestuffs, Arlex Chemi, Red Sun Dye Chem, Alliance Organics, Krishna Industries, Spectra Colors Corporation, Matrix Pharma Chem, Dynemic Products, Vanshi Chemicals, Shivam Exim, Jupiter Dyes, Prashant Group, Sugai Chemical, Hodogaya Chemical, K.G. International among others.
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