The global color cosmetics market stood at USD 57.4 Billion in 2014 and it is expected to reach USD 77.7 Billion in 2020 with a CAGR of 5.7%. Color cosmetics have wide applications in nail products, lip products, eye make-up, facial make-up, and other. Color cosmetics refer to the colorants and cosmetics ingredients that help to enhance the appearance of the human body.
The color cosmetics include products such as eye shadows, foundations, nail paints, lipsticks, powers, and others. The color cosmetics are segmented on the basis of target markets such as prestige products and mass products. The prestige products are projected to register high CAGR than mass products in the next five years as the brand loyalty amongst prestige color cosmetics users is rising especially in the developed regions.
The U.S. color cosmetics products are growing due to continuous technological innovations, developing fashion trends, and immature markets for some products. Nail polish and BB creams registered the highest growth in the U.S. between 2012 and 2014 due to advances in technology with major developments in highlights including gel nail polishes which have gained immense popularity. The convenience and ease of use provided by the BB creams has driven their demand in the color cosmetics market of the U.S.