The Cosmetic Dyes Market Is Projected To Grow At A Cagr Of 5 point 5 percentage In Terms Of Value From 2018 To 2023
The market size of cosmetic dyes is estimated at USD 280 million in 2018 and is projected to reach USD 366 million by 2023, at a CAGR of 5.5%, from 2018 to 2023. The growth of this market is attributed to high growth of applications consuming cosmetic dyes. The increasing use of cosmetic dyes in the hair care products and toiletries applications drives the cosmetic dyes market. However, stringent regulatory policies is restraining the growth of the market. Also, volatility in raw material prices of cosmetic dyes, especially in medical devices, is the major challenge, which in turn has affected the growth of the market.
The synthetic dyes type segment is projected to register the higher CAGR during the forecast period. Synthetic dyes are expected to be the fastest-growing type of cosmetic dyes owing to increasing demand for synthetic dyes from several applications.Synthetic cosmetic dyes are classified as acid dyes, direct dyes, basic dyes, disperse dyes, and vat dyes.
Acid dyes are anionic water-soluble dyes having better lightfastness in comparison to basic dyes.Basic dyes are water-soluble cationic dyes that react with materials having a negative charge.
Direct dyes are water soluble due to the presence of sulfonic acid groups and hence are anionic by nature.Disperse dyes are insoluble in water and non-ionic by nature. The vat dyes are insoluble complex polycyclic molecules with a quinone structure. Synthetic dyes is the fastest growing type for cosmetic dyes as the cost of manufacturing these dyes is less in comparison to natural dyes.
Hair color products to be the largest application of cosmetic dyes in terms of volume and value.
Hair color products was the largest application of cosmetic dyes and is projected to be the same during the forecast period.The major reason for people choosing hair coloring is for covering of grey hair and because colored hair is regarded as more fashionable.
The market in the hair color products application segment is projected to register a higher CAGR during the forecast period. The hair coloring industry is growing as people are willing to experiment with their hair color.
APAC projected to be the fastest cosmetic dyes market, in terms of volume, during the forecast period.
APAC is projected to register rapid growth in the cosmetic dyes market due to the increasing demand from applications, namely, facial makeup, lip products, hair color products, toiletries and others.It is also the fastest-growing cosmetic dyes market in terms of both production and demand.
Higher domestic demand along with easy availability of raw materials and low-cost labor make APAC the most preferred destination for producers of cosmetic dyes.Cosmetic dye manufacturers focus on this region to gain a significant market share and increase profitability.
These factors are attracting companies to adopt expansions and R&D in this region.China and India are among the fastest-growing economies, globally.
The presence of developing manufacturing sectors in these economies is projected to boost the cosmetic dyes market in the region.
This study was validated through primary interviews conducted with various industry experts, worldwide. The primary sources were divided into three categories, namely, company type, designation, and region.
- By Company Type– Tier 1: 57%, Tier 2: 29%, and Tier 3: 14%
- By Designation–C Level: 43%, Director Level: 35%, and Others: 22%
- By Region–APAC: 40%, Europe: 30%,1 North America: 19%, Middle East & Africa: 6% and South America: 5%
The report profiles several leading players of the cosmetic dyes market that include Sensient Cosmetic Technologies (France), Clariant (Switzerland), DyStar (Singapore), Neelikon (India), Chromatech (India), Pylam (US), Organic Dyes and Pigments (US), Koel Colours (India), Aakash Chemicals and Dyestuffs (US), and Goldmann Group (Germany). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their positions in the cosmetic dyes market.
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