Global sales of organic color cosmetic products are estimated to exceed revenues worth US$ 30,000 Mn by 2022-end
[EUPRwire, Thu Oct 04 2018] In terms of revenues, North America will account for the largest shares of the global organic color cosmetics market in 2017, and is anticipated to dominate the market over the forecast period. Widespread availability of distribution channels such as specialty stores, and modern trade have fuelled sales of organic color cosmetic products in North America. In addition, the huge disposable income of population in the region is vital for growth of the market, as the cost of organic color cosmetic products is relatively higher than their conventional alternatives. Europe is also expected to remain a key lucrative region for expansion of the organic color cosmetic products market.
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According to recent report by Fact.MR, the global market for organic color cosmetic products will exhibit an impressive expansion during the forecast period (2017-2022). Global sales of organic color cosmetic products are estimated to exceed revenues worth US$ 30,000 Mn by 2022-end.
The organic color cosmetic products market in Asia-Pacific excluding Japan (APEJ) has been projected to exhibit the highest CAGR through 2022. Soaring adoption of organic color cosmetic products in APEJís developing countries such as India and China, on the back of new product launches, is expected to drive the market growth in the region. Middle-East and Africa (MEA) will remain the second fastest expanding market for organic color cosmetic products.
Estimated to account for over two-fifth revenue share of the market by product type in 2017, lip care products will continue to retain their dominance in the global organic color cosmetic products market. In addition, nail products, which will account for second largest market revenue share in 2017, are projected to register the fastest expansion in sales through 2022. Between facial make-up and eye make-up products, the former will register a relatively faster expansion in sales, whereas the latter will account for a comparatively larger revenue share of the market over the forecast period.
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Specialty stores, modern trade and mono brand stores are expected to be the largest distribution channels for organic color cosmetic products. These three distribution channels will account for over 60% revenue share of the market in 2017. However, mono brand stores among these are projected to discern a slight decline in their market share by 2022-end. Drug stores are expected to be the least lucrative distribution channel for organic color cosmetic products.
Manufacturers are now focusing on expansion of their distribution network towards online channels, owing to rising internet penetration. The number of internet users worldwide is surging consistently. Online distribution channels are therefore projected to register an impressive expansion in the global organic color cosmetic products market through 2022.
Nowadays the term premiumization has become the real game changer, resulting into introduction of novel organic ingredients for color cosmetic products, and changing ways of their utilization. Customers in the global organic color cosmetic products market are preferring premium priced products more than their economic counterparts, as they want to use the brand they have now adapted to, with wide range of products for selection. Premium priced organic color cosmetic products, projected to expand at a high single-digit CAGR, will bring in nearly US$ 14,000 Mn revenues by 2022-end. In addition, a steady expansion has been projected for sales of economic organic color cosmetic products through 2022.
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