MarketsandMarkets: Cosmetic Pigments Market Worth $1,019 Million by 2024

In its report “Cosmetic Pigments Market by Composition (Organic, Inorganic), Type (Special Effect, Surface treated, Nano), Application (Facial Makeup, Eye Makeup, Lip Products, Nail Products, Hair Color Products), and Region – Global Forecast to 2024,” MarketsandMarkets projects the global cosmetic pigments market to grow from $698 million in 2019 to $1,019 million by 2024, at a CAGR of 7.9%.
 
The global market for cosmetic pigments is driven primarily by the increasing demand for cosmetic products. Cosmetic pigments are used for manufacturing cosmetic and personal care products for color enhancement. 
 
Special effect pigments are the fastest-growing segment of the cosmetic pigments market by type. Increasing demand for special effect pigments in cosmetic products such as lip products and eye shadows is expected to drive the market for this type of pigments during the forecast period. Special effect pigments are used in all types of cosmetic and personal care applications to add color, glitter, luster, and shine. 
 
Cosmetics products were traditionally made of chemical compounds; however, recently, there has been a significant demand for cosmetic products derived from natural sources. The application of cosmetic pigments includes nail products, lip products, eye makeup, facial makeup, hair color products, special effect and special purpose, and others (toothpaste, hair shampoo and conditioner, and sunless tabbing products). Facial makeup accounts for the largest application of cosmetic pigments market. The increasing demand for root makeup products such as foundations and face powders is expected to drive the market in this application segment.
 
APAC is the fastest-growing market, in terms of both production and demand. High economic growth rate and growing facial makeup application in China, Japan, and India are projected to lead the cosmetic pigments market in APAC during the forecast period.