United States Cosmetic Pigments Market to Grow with a CAGR of 4.38% through 2028
Surge in research and development activities is expected to drive the United
States Cosmetic Pigments Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “United
States Cosmetic Pigments Market– By Region, Competition, Forecast and
Opportunities, 2018-2028F”, the United States Cosmetic Pigments Market
stood at USD70.95 million in 2022 and is anticipated to grow with a CAGR of 4.38%
in the forecast period, 2023-2028. The initiatives taken by government based on
cosmetic pigments has led to favorable market conditions for the United States
Cosmetic Pigments Market. Several factors contribute to the growth of various cosmetic
pigments market products.
Efforts have
been made to list mica-based pearlescent pigments as approved colorants for
cosmetic purposes. These pigments, known for their shimmering or
light-reflecting properties, are widely used in cosmetics to enhance their
visual appeal. Despite their popularity, the FDA has not yet officially
recognized these pigments as approved colorants, leaving room for further
evaluation and potential regulatory changes.
In response to
increased public interest and evolving government regulations, cosmetics
manufacturers are proactively exploring the development of more natural and
sustainable cosmetic pigments. This growing trend aligns with the rising demand
for environmentally-friendly products and is driven, in part, by the mounting
regulatory pressures and the government's overarching sustainability goals. By
embracing these changes, the cosmetics industry aims to enhance both the
aesthetics and the ecological impact of their products, meeting the
expectations of conscious consumers and contributing to a more sustainable
future.
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The growing
trend towards natural and organic cosmetics is driving the need for extensive
research and development in the field of natural and mineral-based pigments.
These pigments, while aiming to meet the same performance and safety standards
as their synthetic counterparts, require meticulous exploration and innovation
to ensure their efficacy, stability, and compatibility with various cosmetic
formulations. As a result, significant investments in research and development
are being made to unlock the full potential of these natural alternatives,
paving the way for a more sustainable and eco-friendly future in the cosmetics
industry.
The United
States Cosmetic Pigments Market is segmented in elemental composition, application,
regional distribution, and company.
Based on its elemental composition, the inorganic pigments
segment held the largest share in the market. The demand for inorganic pigments
extends beyond the cosmetics industry. They are widely utilized in various sectors,
including paints, plastics, textiles, ceramics, and more. This broad
applicability and usage across multiple industries further fuel the production
and availability of inorganic pigments.
In comparison to organic pigments, inorganic pigments
are known for their cost-effectiveness. The manufacturing process of organic
pigments can be more complex and expensive, resulting in higher production
costs. This cost advantage makes inorganic pigments an attractive option for
cosmetic manufacturers who seek to achieve a balance between product quality
and affordability without compromising on vibrant and long-lasting colorations.
Based on region, Mid-West segment is expected to grow
during the forecast period.
The Midwest region in the United States is home to a
vast consumer base with diverse beauty and personal care needs. With its large
population and varied demographics, the demand for cosmetic products is
substantial. In particular, there is a growing interest in cosmetic pigments
that offer high performance and longevity. This trend is expected to contribute
significantly to the increasing consumption of cosmetic pigments in the region.
Major companies operating in United States Cosmetic
Pigments Market are:
- Clariant AG
- Kobo Products Inc.
- Merck Performance Materials Ltd
- LANXESS AG
- BASF SE
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“Growing application of cosmetic pigments in various
end user industries are key drivers of the cosmetic pigments market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of cosmetic pigments with every
passing year are anticipated to register an impressive growth to United States
Cosmetic Pigments Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“United States Cosmetic Pigments Market By Elemental
Composition (Organic Pigments, Inorganic Pigments), By Application (Facial
Makeup, Eye Makeup, Lip Products, Nail Products, Special Effect & Special
Purpose Products, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of United States Cosmetic Pigments Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States Cosmetic Pigments Market.
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