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The global color cosmetics market size is expected to gain momentum by reaching USD 90.76 billion by 2028 from USD 70.33 billion in 2021, owing to the increased promotion of newly launched products review on social media platforms in the form of videos and blogs is expected to generate traction in upcoming years. This information is given in a report titled, “Color Cosmetics Market Size, Share & COVID-19 Impact Analysis, By Target Market (Prestige Product, and Mass Product), By Distribution (Offline, and Online) By Application (Nail Product, Hair Product, Lip Product, Face Product, and Others), and Regional Forecast, 2021-2028.” The report further mentions that the market for color cosmetics stood USD 68.41 billion in 2020, and it registered an impressive CAGR of 3.7% during the forecast period.
After Successful Launch of First Batch of K-beauty Products, Avon is all set with the Second Batch
In April 2020, Avon announced the launch of the second batch of K-beauty products due to the success of the trend collection of the first batch in 2019. This K-beauty range partnered with Avon’s with Korean manufacturers. This enabled them to come up with innovative and products and formulas with authentic ingredients for the customers from various regions. The products received incremental sales and have prompted Avon to widen its collection by launching trend focus products such as pocket masks, Botanical Green Tea Under-Eye Patches, a 3-Step Smoothing Facial, and a Thermal Hand and Foot Mask. All these products are expected to accelerate the company’s product portfolio. Such new launches by prominent companies would boost the demand for color cosmetics in the near future.
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Increasing Adoption of Digital Marketing to Boost Market
The continuously changing technology is creating new ways to promote one’s business, especially small businesses. The growing trend of streaming new product launches on the internet through various social media platforms such as Instagram, YouTube, Twitter, Pinterest, Beauty Blogs is creating awareness about the products in consumers, as these platforms offer a more personalized touch than a TV commercial. Since the social media influencers provide detailed analysis of the newly launched product. Therefore, manufacturers and small businesses are partnering with social media influencers and celebrities that include promotions through digital marketing channels to garner consumer demand for cosmetic products. Moreover, the pandemic has supported this online transition of customers, thus positively promoting the color cosmetics market growth.
Key Players Focus on Product Launches to Brighten Their Market Prospects
This market is experiencing healthy competition among key players focusing on developing and introducing advanced color cosmetics solutions to expand their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, partnership, and collaboration that will contribute to the growth of the market in the forthcoming years.
List of Key Players Profiled in Report
Further Report Findings
Table of Segmentation
Value (USD Billion)
By Target Market, By Distribution, By Application, and By Geography
By Target Market