Cosmetic Grade Color Additives MarketSize and Trends

Market Dynamics:

The cosmetic grade color additives market is expected to witness significant growth over the forecast period, owing to the increasing demand for premium cosmetics of variety of colors. The disposable income of the population is rising, which is resulting in adoption of numerous cosmetic products. For instance, according to the International Trade Administration (ITA), in 2014, per capita spending on cosmetic products was reported at US$ 139 in the U.S., US$ 171 in South Korea, and US$ 174 in Japan. Therefore, high per capita spending on personal care and cosmetic products is contributing to growth of the cosmetic grade color additives market. Furthermore, high demand for anti-ageing cosmetics and fairness products will further drive demand for cosmetic grade color additives. However, the growth of this market might be restricted due to the increasing number of regulations on the use of chemicals in cosmetics by the Food and Drug Administration (FDA).

Market Outlook:

On the basis of colors, pigment, oxide & ultramarine colors segment is expected to hold a dominant position in the global cosmetic grade color additives market. Pigments are usually oxides, ultramarines, and titanium dioxide. These are considered as inorganic colors. The cosmetic grade color additive pigments are man-made and the Food and Drug Administration (FDA) has issued strict laws on these color additives approved for skin contact. Pigments are naturally insoluble in water and are opaque.

On the basis of region, the Asia Pacific region is expected to witness significant growth over the forecast period, owing to rising preference for organic products over chemical-based products, rising disposable income, and the steadily growing personal care industry. According to the International Trade Administration (ITA), Japan stands as one of the largest market for personal care products in the world. In 2015, the cosmetic market in Japan was valued at US$ 13,208 and in 2014, per person annual expenditure on personal care and cosmetics was US$ 174, according to ITA. This would be followed by Europe and North America region.