The U.S. Color Cosmetic market held a market value of USD 11,164.0 Million in 2021 and is forecasted to reach USD 15,477.5 Million by the year 2030. The market is anticipated to witness a growth rate of 4.2% over the projected period.
Color Cosmetic refers to cosmetic ingredients and colorants used for make-up, hair care, and fragrance, among others. The market is majorly driven by the rising demand for nail products and face makeup. Furthermore, growing influence of social media is also estimated to fuel the market growth. However, lack of awareness about composition of color cosmetics leads to side effects which is expected to negatively impact the market growth. During the COVID-19 pandemic, the market was severely impacted due to the lowered demand for cosmetic products along with the closure of manufacturing facilities in the country.
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Growth Influencers:
Rising demand for nail products and face makeup
The rapidly growing beauty industry in the U.S. is boosting the demand for nail products and face makeup. This is majorly influenced due to the introduction of make-up brands by various celebrities, such as Rihanna?s Fenty Beauty & Fenty Skin, Jennifer Lopez?s JLo Beauty, Alicia Keys? Keys Soulcare, Selena Gomez?s Rare Beauty, Jessica Alba?s Honest Beauty, and Drew Barrymore?s Flower Beauty, among others.
Segments Overview:
The U.S. Color Cosmetic market is segmented into color additive, application, and distribution channel.
By Color Additive,
? Organic
o Synthetic Dyes
o Lakes
o Botanicals
? Inorganic
o Mineral Compounds
The inorganic segment is expected to account for the largest market share of more than 60% in 2021, due to their high penetration in the market and less expensive nature as compared to the organic variants. Within the organic segment, the synthetic dyes holds an opportunity of more than USD 800 million during 2022 to 2030 owing to the increasing demand for organic products.
By Application,
? Eyes Make-up
o Eyeshadow
o Eyebrow Pencil
o Eyeliner
o Mascara
o Others
? Face Make-up
o Foundation
o Primer
o Powder
o Others
? Lips Products
o Lipstick
o Lip Liner
o Lip Gloss
o Others
? Nails Products
? Hair Color Products
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The face make up segment is expected to account for the highest growth rate of around 4.7% during the forecast period owing to the rising number of advancements for improvising face make-up products, such as foundation, which is estimated to surpass a mark of USD 2,000 million by 2024. Similarly, the hair color products segment is expected to witness a growth rate of 4.1% over the projected period owing to rising number of new brands in the segment. Within the lips products segment, the lipstick segment is anticipated to account for the largest growth rate of 3.3% within the lips products segment owing to the increasing demand for long-lasting lipsticks.
By Distribution Channel,
? Online
? Offline
o Hypermarkets/Supermarkets
o Specialty Stores
o Pharmacies
The offline segment is estimated to account for the largest market share of over 60% in 2021 owing to the high number of retail stores and instant availability of the desired beauty products. The online segment is anticipated to witness the highest growth rate of about 4.5% due to the increasing penetration of specific e-commerce platforms, such as Sephora and Ulta, among others, for buying beauty products.
Competitive Landscape
Key players operating in the U.S. Color Cosmetic market include Anastasia, Beautycounter, Blinc, Danessa-myricks beauty, Freck Beauty, Grande cosmetics, Hourglass, ILIA beauty, JLO beauty, Josei Maran, Jouer cosmetics, Makeup by Mario, Melt cosmetics., Milk makeup, Patrick Ta, Tatcha, and Other Prominent Players. The cumulative market share of the four major players is close to 10%.
These key players are involved in collaborations, new product launches, and mergers & acquisitions to strengthen their market presence. For instance, in December 2020, Melt Cosmetics launched Red 0, which is a 100% vegan red lipstick formulated with their patent-pending replacement for carmine?the industry?s standard red pigment produced from crushed female insect.
The U.S. Color Cosmetic market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the U.S. Color Cosmetic market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Company Profiles: Business Overview; Strategic Outlook; Product Details; Product Segment, Market Share (in %), by Revenue ? 2021; COVID-19 Effect, Product Category Wise; Strategic initiatives taken to manage/sustain product sales during covid-19 in the year 2020; Evolution of company (product mix/market positioning) to meet the demands of a changing market
The U.S. Color Cosmetic market report answers questions such as:
? What is the market size and forecast of the U.S. Color Cosmetic Market?
? What are the inhibiting factors and impact of COVID-19 on the U.S. Color Cosmetic Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the U.S. Color Cosmetic Market?
? What is the competitive strategic window for opportunities in the U.S. Color Cosmetic Market?
? What are the technology trends and regulatory frameworks in the U.S. Color Cosmetic Market?
? What is the market share of the leading players in the U.S. Color Cosmetic Market?
? What modes and strategic moves are considered favorable for entering the U.S. Color Cosmetic Market?
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