The report also identifies the driving and restraining factors for colour cosmetics market with an analysis of drivers, restraints, opportunities, and strengths. The market is segmented and the value has been forecasted on the basis of important regions, such as Asia-Pacific, North America, Europe, and Rest of the World (RoW). Further, the market is segmented and the demand and value are forecasted on the basis of various key applications of colour cosmetics, such as nail products, lip products, eye make-up, and other applications.
Innovations in colour cosmetics and rising consumer disposable income is leading the growth of this market in North America and Europe
One of the biggest manufacturers in the colour cosmetics field is Coty which is situated both in the U.S. as well as Europe. The rise in disposable incomes in these developed regions, and new product launches in the colour cosmetics market has made the U.S. and the U.K. the largest markets for colour cosmetics.
The U.K. is the largest market for colour cosmetics in Europe that is projected to register over 20% growth in Western Europe between 2010 and 2015. The developing economies of Asia namely China and India are also projected to register high growth rate in the colour cosmetics market in the next five years. The prestige products registered strong growth in 2013 as consumers traded prestige brands over mass products and this trend is projected to continue for the next five years.
The colour cosmetics is a flourishing market as consumers continue to explore new looks and manufacturers are producing more pleasing formulas and textures to cater to the rising demand from these consumers.
Asia-Pacific countries such as China and India are expected to account for highest colour cosmetics market, in terms of value, by 2019. The region is projected to register high growth rate in the Colour Cosmetics Market in the next five years mainly due to increasing consumer incomes and rise in the awareness about personal care products in the region.
The increasing consumer spending in colour cosmetics, innovation of new products, rise in conscience about appearance, growing beauty and personal care industry, technological advancement in colour cosmetics, and rise in demand for colour cosmetics due to age related imperfections are few of the drivers of this market in the Asia-Pacific countries.
China and India, the growing economies and demographics of the Asia-Pacific region are projected to have high growth potential in the colour cosmetics market in the next five years. The rise in consumer awareness and changing lifestyles of the population is leading to the growth of colour cosmetics in India.