Global Mineral Cosmetics Market - 2022-2029
発行: DataM Intelligence
ページ情報: 英文 219 Pages
Mineral cosmetics are a type of face makeup that uses dry and loose mineral powders to create eye shadow, blush, bronzer, and foundation. Mineral cosmetics contain minerals such as zinc oxide, iron oxide, titanium dioxide, ultramarine, and mica. These minerals are crushed into fine powders to create perfect foundations and powders. The rise in health consciousness among both men and women worldwide is one of the key reasons for mineral cosmetics' growing appeal. Furthermore, rising consumer interest in mineral cosmetics and rising disposable income are two major drivers boosting the market during the forecast period. The global mineral cosmetics market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Market Dynamics: Shifting consumer preference for organic and natural beauty products is driving the market across the globe
Consumers are increasingly aware of the negative impacts of chemical-based cosmetic products, which have prompted them to seek alternatives. Natural and organic skincare products have been increasingly popular among consumers in recent years. Mineral cosmetics do not clog pores and have a long shelf life. In addition, sunscreen chemicals like titanium dioxide and zinc oxide protect skin from the sun's harmful UV rays. As a result, minerals are becoming more popular in everyday SPF moisturizers and makeups. In addition, shifting consumer tastes and preferences are projected to open up a slew of new opportunities shortly. Mineral cosmetics also provide several advantages, including the ability to maintain the complexion clear, the ability to use it after a facial treatment, the ability to avoid skin irritation, and so on. These advantages also increase the demand for mineral cosmetics among people all over the world.
Market Segmentation: Facial cosmetics is the dominating segment
Facial products accounted for more than XX% of the total revenue in 2021. Over the past few years, mineral foundations have become popular among consumers as they are more beneficial for skin than conventional makeup. Mineral facial cosmetics are items used to highlight and color the features of the face. They can either add or change color directly or put over a foundation to make the color equal and smooth. The market is expected to be driven by the rising trend among women worldwide about appearance alteration and attractiveness during the projected period. These foundations generally contain zinc oxide and titanium dioxide, which provide sun protection, better coverage, and nicely hide the aging lines. The growing popularity of online makeup tutorials and social media has been propelling the growth of facial makeup products worldwide. Lately, water-resistance and sweat-proof foundations have been gaining significant popularity among consumers.
Furthermore, lip products are expected to increase at a CAGR of XX% from 2022 to 2029, making them the fastest-growing sector of the mineral cosmetics market. Due to the growing number of working women, the expanding purchasing power of female consumers in developing nations such as China and India is predicted to boost demand for premium lip products shortly. In recent years, consumers have been encouraged to try different textures and hues in lip cosmetics by social media and beauty blogs. Colors like nude, pink and peach have been increasingly fashionable worldwide.
Online sales are expected to grow with highest CAGR of XX% during the forecast period. Mineral cosmetics are now more widely available because of the increasing growth of e-commerce worldwide. Companies are growing their consumer base and geographic reach by using online platforms. Social media has become one of the most important marketing channels to attract young and millennial consumers. The most successful companies are putting a strong emphasis on digital marketing. Revlon, Inc. launched its "I Can." campaign in February 2019. The demand for multi-functional cosmetic products has increased dramatically over the last few years worldwide. As a result, companies are diversifying their product portfolios by launching new high-end products that can address various skin concerns. bareMinerals launched a new line of anti-aging skin care products in January 2016. Skinsorials and Skinlongevity Vital Power Infusion are two of these product lines.
Geographical Penetration: Asia Pacific is expected to dominate the global mineral cosmetics market
Asia-Pacific dominated the mineral cosmetics market in the world. Due to public anger over manufactured products, increased internet penetration, improved lifestyle, and more health awareness, it is also predicted to develop fastest throughout the forecast period. Furthermore, the increased number of working women in this region boosts demand for CC (color correction) and BB (blemish balms) creams. The market for mineral cosmetics has benefited from the increased penetration of foreign brands in emerging markets.
North America is expected to hold a market revenue share of XX% in 2021. The mineral cosmetics market in North America is primarily driven by high purchasing power, a propensity to spend on appearance, and a high penetration rate, which has resulted in a saturated market in recent years. The product market in North America remains largely unaffected by changing consumer attitudes, in spite increase in preference for more natural ingredients. Natural cosmetics are in high demand in this region as consumers become more aware of the dangers of chemical-based personal care products. During the last few years, the organic product segment has grown dramatically in North America's pharmacies, specialty organic cosmetics stores, and other retail chains.
The mineral cosmetics market is fragmented. The mineral cosmetics market is competitive and comprises numerous regional and international competitors. Players also extensively focus on providing consumers with innovative offerings while including functional benefits in their products. Furthermore, while engaging the consumers with innovation and expansion strategies, key players capitalize on the market revenue. The industry is fiercely competitive, with well-established corporations offering a diverse range of items in various categories. Mergers, acquisitions, and product innovation have helped manufacturers strengthen their positions and expand their product lines. For example, L'oreal S.A. purchased Raylon Corporation, a wholesale distributor with operations in 48 states in the United States, in January 2016. The purchase was made to expand the company's distribution network in the United States and increase market penetration. Mineral Fusion Natural Brands LLC, owned by North Castle Partners, was also acquired by BWX Limited in June 2017. Mineral Fusion is a well-known natural cosmetics brand in the United States, and BWX entered the market with this acquisition.
COVID-19 Impact: Negative impact on the mineral cosmetics market
The beauty and personal care business are likely to be one of the hardest damaged industries during a pandemic. Consumer preferences have shifted, and the industry is fighting to keep up. Consumers are more willing to spend money on products with a longer shelf life and are less likely to be contaminated. Furthermore, revenue losses from closed hypermarkets, supermarkets, and department stores have considerably impacted growth projections. As a result, companies are focusing their efforts on increasing their online presence. Some of the most well-known cosmetics businesses are marketing at-home wellness solutions to stay afloat in the face of an impending slump. The cosmetics business as a whole is facing a fall in sales as clients cut back on discretionary spending. Several mass markets stores, brick-and-mortar stores, and other retailers reported a decline in sales in the same year. However, there has been increasing demand for mineral cosmetics through online sales channel.
The global mineral cosmetics market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages