Rising disposable income, increasing urbanization, growing millennial population and improving lifestyle to boost global cosmetic dyes market through 2024
According to TechSci Research report, “Global Cosmetic Dyes Market By Type, By Application, By Solubility, By Region, Competition, Forecast & Opportunities, 2024’’, global cosmetic dyes market stood at $ 282 million in 2018 and is projected to cross $ 368 million by 2024, growing at a CAGR of 5.7% during the forecast period. Increasing use of cosmetic dyes in personal care and cosmetics products, as the cosmetic dyes are an essential ingredient of these products, is expected to push the market in coming years
The cosmetic dyes market has been segmented into type, application, solubility and region. Based on type, the market has been sub-segmented into synthetic dyes and natural dyes. Among these segments, synthetic dyes are anticipated to account for the largest share of the cosmetic dyes market, in terms of both value and volume, in 2018. This trend is expected to continue during the forecast period, due to the easy method of production, low cost and easy process of application of synthetic dyes, which makes these dyes appropriate for cosmetic applications
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Further, based on application, the market has been segmented into facial makeup, hair color, eye makeup, nail products, lip products, toiletries and others. Of these categories, hair color products application is anticipated to register highest CAGR during the forecast period, on account of the willingness of people to experiment with their hair color and covering grey hair. There are different types of hair coloring techniques, including permanent, semi-permanent, demi-permanent, temporary color and alternative color. Asia-Pacific is the fastest growing market for cosmetic dyes due to high consumption of dyes in hair color products application. Moreover, high economic growth, increasing number of manufacturing industries, availability of cost-effective labor and global shift of the consumption and production capacity from developed markets to developing markets are some of the other factors likely to drive the region’s cosmetic dyes market.
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“Europe is the largest market for cosmetic dyes in the world, backed by increasing demand for cosmetic dyes in numerous applications along with shifting trend towards hair coloring. Moreover, growing awareness about new products and their usage due to social media advertising, mouth to mouth publicity, events, etc., are expected to have a positive impact on global cosmetic dyes market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Cosmetic Dyes Market By Type, By Application, By Solubility, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global cosmetic dyes market and provides statistics and information on market size, structure and future market growth. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also analyzes the evolving market trends along with drivers, challenges and opportunities in global cosmetic dyes market.
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