The Asian color cosmetics market is expected to witness high growth over the next five years, according to a report released by Persistence Market Research.
North America is currently the largest market for color cosmetics globally, followed by Europe. However, the growing middle class is expected to fuel growth in Asia – particularly in India and China – thanks to rising disposable incomes and increasing consumer awareness.
Globally, the market will be spurred to growth by a rise in demand for organic cosmetics, ongoing innovation and attractive packaging, although the sector will have to overcome regulatory challenges, the rising cost of raw materials and the wider economic climate in order to capitalise on these opportunities.
Major players include Estée Lauder, Avon, L’Oréal, Revlon, Proctor & Gamble, Johnson & Johnson and Beiersdorf. In terms of channels, the growing popularity of e-commerce is a key trend.