12.13.18
A new report by QY Research takes a look at the global color cosmetics market -- and it is expected to grow to $62.5 billion by 2023.
Expected to post a 7.7% CAGR during the forecast period 2017-2023, the global color cosmetics market could reach a valuation of $62.5 billion by the end of 2023. In 2017, the global color cosmetics market was valued at a $40 billion.
Major Players
Major players of the global color cosmetics market are Amore Pacific, Shiseido, Estée Lauder, Unilever, and L'Oréal.
Other players include Avon, Chanel, LVMH, Coty, Clarins, Natura Cosmeticos, Revlon, Mary Kay, Kose, Kryolan, Carslan, Mariedalgar, Lansur, Maogeping.
Market Drivers
The improving living standards of people in developing economies, as well as an increasing disposable income, are a few of the factors driving market growth.
Quick economic growth and rising population in emerging countries are also expected to create opportunities in the global color cosmetics market.
The "growing awareness about fashion trends, high demand for beauty care, and increasing consciousness about appearance could provide a fillip to the global sales of color cosmetics," the report states.
The full report offers more insights into critical market dynamics and other aspects, including market competition.
Photo: BH Cosmetics via Instagram
