Asia Pacific Colour Cosmetics Market Report and Forecast 2024-2032

Asia Pacific Colour Cosmetics Market Outlook

The market size for colour cosmetics in the Asia Pacific reached a value of more than USD 3.39 billion in 2023. The Asia Pacific colour cosmetics market is expected to grow at a CAGR of 7.90% between 2024 and 2032, reaching a value of USD 6.70 billion by 2032.

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Key Trends in the Market

Colour cosmetics are personal care products used to enhance the outer appearance of an individual. The final formulation of the colour is given to the cosmetics with the help of pigments which are of two types; absorption pigments which impart colour by absorbing some part of the visible light spectrum, and interference pigments which manipulate light. 

• People worldwide are becoming more conscious about their experience, resulting in a greater demand for cosmetics products. They feel better and more confident after applying cosmetics, which ultimately enhances their personality leading to increase in demand for colour cosmetics.

• Advertisements and brandings of products are a key trend in the market. The selling strategies deployed by companies are attracting a wider number of individuals. Targeted products aimed at specific skin tones in the region are driving the growth of the Asia Pacific colour cosmetics market.

• Organic products are increasing in popularity because of the awareness of harmful effects of chemical products on skin. People are becoming aware of the long-term effects of chemicals and are changing their priorities. Key players are also expanding their offerings, incorporating more organic and natural materials, further supporting the market for colour cosmetics in the region.

Market Analysis

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Based on target market, the Asia Pacific colour cosmetics market can be bifurcated into mass product and prestige product. On the basis of application, the market is divided into facial make-up, lip product, eye make-up, eye-product, and nail product, among others. By distribution channel the market is segmented into hypermarkets and supermarkets, specialty stores, and online, among others. Based on country, the market is divided into China, India, Japan, South Korea, Indonesia, Malaysia, and Australia, among others. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Asia Pacific colour cosmetics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.  

• Unilever Plc

• L’Oréal Group

• Kao Corporation

• Procter & Gamble Company

• Estee Lauder Inc

• Oriflame

• Shiseido Co. Ltd.

• Kosé Corporation

• Amorepacific Corporation

• Yatsen Holding Limited

• FSN E-Commerce Ventures Nykaa Ltd

• Others

Market Share by Target Market

Mass product is usually defined by the price point and have a larger share of the Asia Pacific colour cosmetics market because they are easily accessible, familiar to the consumers, and affordable especially to students and people with low purchasing power. Prestige products on the other hand are defined by high price and status of the product. They are usually found in the high-end specialty stores selling quality brands. The market share of prestige products is expected to grow in the coming years, due to the rising preference of consumers towards investing in high quality products. 

Market Share by Application

The applications of colour cosmetics have steadily expanded to incorporate multiple areas of the body, including overall facial skin, lips, eyes, and nails. Facial make-up products hold a significant share of the Asia Pacific colour cosmetics market because of the use of foundations, concealers, blush, compact, primers, contours, and highlighters. A lot of people use these products to hide the facial marks or dark circles and to provide a clear base to their face. Men are also experimenting with facial make-up that looks natural and enhances their appearance. 

Other popular colour cosmetics based on application are lip products, due to their extensive use historically, low cost, and ability to instantly brighten up a face. The segment for eye products is also expected to witness growth in the colour cosmetics market, driven by social media popularity and increasing awareness. 

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Competitive Landscape

Unilever Plc founded in 1929 has its headquarter in London, United Kingdom. It is a multinational company that manufactures and supplies consumer goods such as food, beauty products, condiments, personal care, and cleaning agents. 

L’Oréal Group was established in 1909 and is based out of Clichy, France. It is one of the largest French cosmetics companies that manufactures personal care and beauty products including make-up, skin care, hair care, sun protection, and perfume, among other products. 

Kao Corporation founded in 1887 has its headquarter located in Tokyo, Japan. It is a cosmetics and chemicals company which manufactures products with the hope of contributing to the achievement of sustainable goals for a better future. 

Other market players include Procter & Gamble Company, Estee Lauder Inc, Oriflame, Shiseido Co. Ltd., Kosé Corporation, Amorepacific Corporation, Yatsen Holding Limited, and FSN E-Commerce Ventures Nykaa Ltd, among others. 

Key Highlights of the Report