11.28.17
The global color cosmetics market was valued at $5.9 billion in 2016, and is projected to reach $9.5 billion by 2023, registering a CAGR of 7.4% from 2017 to 2023, according to a new report published by Allied Market Research.
Allied says the market is driven by a rise in disposable income in emerging economies such as India, Brazil, UAE, Saudi Arabia, Africa and Egypt. In addition, they point to the financial independence of working women and an increased awareness regarding external appearance.
The mass product segment is expected to maintain its dominance during the forecast period, as Allied says it accounted for the highest share in the market in 2016. Increased innovations in the mass products segment, such as anti-aging cream and UV protection lotions, will continue to drive the market growth.
Asia-Pacific is expected to maintain its dominant position in the global market during the forecast period, followed by Europe.
Allied says the market is driven by a rise in disposable income in emerging economies such as India, Brazil, UAE, Saudi Arabia, Africa and Egypt. In addition, they point to the financial independence of working women and an increased awareness regarding external appearance.
The mass product segment is expected to maintain its dominance during the forecast period, as Allied says it accounted for the highest share in the market in 2016. Increased innovations in the mass products segment, such as anti-aging cream and UV protection lotions, will continue to drive the market growth.
Asia-Pacific is expected to maintain its dominant position in the global market during the forecast period, followed by Europe.
