Surge in need for skin care products, increase in demand for natural ingredients in cosmetic products, and growing inclination for natural food ingredients and colorants drive the growth of the global cosmetic dyes market
PORTLAND, Ore., Oct. 20, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Cosmetic Dyes Market by Product Type (Organic Dye and Inorganic Dye), and End User (Facial make up, Nail products, Eye make-up, Lip products, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global cosmetic dyes industry was estimated at $420.3 million in 2018 and is anticipated to hit $610.1 million by 2026, registering a CAGR of 4.9% from 2019 to 2026.
Drivers, restraints, and opportunities-
Surge in need for skin care products, increase in demand for natural ingredients in cosmetic products, and growing inclination for natural food ingredients and colorants drive the growth of the global cosmetic dyes market. On the other hand, several government regulations and increasing awareness about probable side effects of chemical based cosmetics impede the growth to some extent. Nevertheless, rise in demand for organic cosmetics and change in consumer preference for cost-effective cosmetics products are expected to create new opportunities in the industry.
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The outbreak of the pandemic led to decline in demand for cosmetic products from individuals.
Also, disruptions in the supply chain and shortage in raw materials have negatively impacted the market.
However, with the existing regulations being eased off gradually in most of the countries, the market is expected to get back to its position soon.
The inorganic dyes segment to dominate by 2026-
Based on product type, the inorganic dyes segment contributed to nearlythree-fifths of the global cosmetic dyes market share in 2019 and is expected to lead the trail by 2026. The fact that inorganic pigments use chemical formulations to get the desired product properties for various applications drives the growth of the segment. The organic dyes segment, on the other hand, would register the fastest CAGR of 6.0% throughout the forecast period. This is attributed to the fact that organic cosmetics dyes are mostly handmade with natural organic ingredients like organic milk, and organic vegetable oils.
The facial make up segment to maintain the dominant share-
Based on application, the facial make up segment accounted for more than one-third of the global cosmetic dyes market revenue in 2019 and is anticipated to rule the roost till 2026. Manufacturers are working on to produce organic dyes for the facial make up products. This factor fuels the segment growth. Simultaneously, the nail products segment would portray the fastest CAGR of 6.3% by the end of 2026. Nail products such as creams and lotions are used to enhance the nails. And, rise in inclination toward enhanced products which give shine and better appearance when applied has driven the segment growth. Also, manufacturers are targeting the demand of customers by providing natural and organic dyes