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The Mineral Cosmetics Market Registered US$ XX Bn In 2019 And It Is Estimated To Reach around US$ 3.92 Bn By 2027, Likely To Grow witness A CAGR Of 5.0 % During The Forecast Period.
Mineral Cosmetics is witnessing stagnant growth since last few years and is anticipated to grow rapidly in the coming years. Manufacturers are focusing on developing cosmetic products using natural minerals including mica powder, zinc oxide, organic oils, titanium oxide, and iron oxide coupled with the increasing popularity of natural cosmetic products across the globe.
The Benefits Offered By the Mineral Cosmetics Method in Detecting Cancers Has Led To the Growth of the Mineral Cosmetics Market
The mineral cosmetic consists of face makeup products including foundation, eye shadow, bronzer, blush, and other products which are applied on the face. These products are made of loose and dry mineral powder. The major factor driving the growth of the mineral cosmetic market is the benefits associated with these products. Also, rising concern regarding skincare among consumers is supporting the growth of the global market. The mineral cosmetics offer clear complexion, usability after the facial treatment, protects from harmful UV rays, and prevents skin irritation. These products are made of ingredients such as zinc oxide and titanium oxide which are very effective in protection from Sun. Additionally, mineral cosmetics are long-lasting and do not clog up pores. These advanced features of mineral cosmetics are expected to boost the growth of the global market over the forecast period.
However, the availability of substitutes and high cost of mineral cosmetic products might hamper the growth of the global market slightly.
Lip Products Segment is anticipated to Witness Rapid Growth Rate during the Forecast Period
Based on the product, the face products segment dominates the global market whereas the lip product segment is projected to witness rapid growth over the forecast period. The dominance of face products can be attributed to the rising number of working women in developing countries including India and China. Also, owing to rising concern regarding skincare, the demand for long-lasting SPF face creams has been increased which is putting a positive impact on the growth of the segment.
On the other hand, the lip care segment is projected to show the fastest growth during the forecast period. The rising penetration of social media and beauty blogs is encouraging consumers to purchase new colors and textures of lip products which are supporting the growth of the segment.
Food & Beverages and Pharmaceutical was a Key End-Use Industry for Mineral Cosmetics in 2019
By distribution channel, the offline segment is anticipated to be the dominant segment whereas the offline segment is projected to witness the strongest growth over the coming years. The offline stores allow the customers to do quality check which helps the store to gain the trust of consumers. Also, the growing number of supermarkets in developing regions is expected to create new growth opportunities for the segment.
On the other hand, the online segment is projected to grow rapidly in the future. This is mainly due to the growing e-commerce industry and continuous advancements in online retailing. Some of the major online retailers include Walmart, Amazon, Strawberrynet, Sephore, and Feelunique.
North America Had Dominated the Global Mineral Cosmetics Market in 2019
In terms of region, North America dominates the global market by holding significant market share. In North America, the number of organic cosmetic stores is increasing rapidly which promotes the growth of the mineral cosmetic market in the region.
Furthermore, Asia Pacific is projected to show remarkable growth in the coming years. This is mainly due to the rising demand of BB and CC cream and the increasing popularity of international cosmetic brands across the region. The major markets for mineral cosmetics in the Asia Pacific include China, Japan, and South Korea.
Expansion Through Organic Methods Is the Strategy Adopted by Key Players
The global Mineral Cosmetics market is fragmented with several local and global players, which makes the market highly competitive. The enterprises are focused on expanding their presence with organic methods such as product launch, partnerships, collaborations, and merger & acquisition activities.
For instance, In June 2016, Revlon, Inc. announced to acquire Cutex brand from Coty Inc. aimed at expanding their nail-art segment
In November 2016, The Estée Lauder Companies Inc completed the acquisition with BECCA. The acquisition was intended to expand its makeup segment.
In August 2019, Iredale Cosmetics, Inc., one of the leading companies in the mineral cosmetic market announced to launch Beyond Matte Liquid Foundation, which contains natural mineral ingredients.
Few prominent players of the global mineral cosmetics are Mineralissima Mineral Make-up, Cover FX, Glo Skin Beauty, Ahava Dead Sea Laboratories, Limited, Shiseido Company, The Estée Lauder Companies Inc, Iredale Cosmetics, Inc., Revlon, Inc., BWX Limited, and L'Oréal S.A.
Global Mineral Cosmetics Market by Product
- Lip Product
- Eye Product
- Face Product
Global Mineral Cosmetics Market by Distribution Channel
Global Mineral Cosmetics Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America