Colour Cosmetics Market will Reach US$ 50 billion by 2031 | China and South Korea are Expected to Spearhead the Growth

The colour cosmetics industry is anticipated to grow at a CAGR of 5%. Sales of colour cosmetics will reach US$ 50 billion by 2031 as demand for natural and organic colour cosmetics and facial makeup products continues to grow.

Thanks to the growth of distribution channels and the growing adoption of social media platforms, sales of colour cosmetics have skyrocketed. Additionally, it is projected that throughout the projection period, the rising demand for cruelty-free cosmetics would propel sales of vegan colour cosmetics.

The growing demand for eco-friendly cosmetics and the inclusion of cutting-edge technologies like artificial intelligence will be favourable for the market for colour cosmetics. AI is being used by top colour cosmetic firms like L’Oreal and others to enhance the comparison and visualisation of hundreds of cosmetic colour variations.

Besides this, key players are investing extensively in research activities to include organic and natural color cosmetics such as

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Organic Cosmetics Market to grow at CAGR of 5% in 2031 | Impact of COVID-19

The organic cosmetics market to grow at CAGR of 5.0% throughout the forecast period 2021-2031. Natural claims have sparked the sustainability quotient in addition to being significant product purchase drivers when paired with product efficacy claims and brand identity.

Customers now demand total transparency from cosmetics producers regarding their sourcing practises, goods, ingredients, and environmental practises. As the requirement to prove their social and environmental credentials develops, more cosmetics companies and manufacturers are searching for ways to redefine their own brands through sustainability-focused items, services, and customer experiences.

The packaging trends in the personal care sector have evolved to incorporate more secure, natural formulas, and practical packaging. Natural solutions are being employed more and more in product packaging as a result of the excellent response they are receiving from the product industry. The businesses’ marketing techniques call attention to profitable container designs while also advocating natural solutions.

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Vegan Cosmetics Market is Expected to surpass US$ 20 bn by 2030, likely to Grow Moderately in 2030

The global cosmetics-market”vegan cosmetics market is expected to surpass US$ 20 bn by 2030, likely to Grow Moderately during the assessment period 2020-2030 . The market for vegan cosmetics will expand as a result of the fast shifting consumer preferences brought on by rising environmental concerns and the spiralling demand for cruelty-free and vegan cosmetics.

In the upcoming years, it is anticipated that the market for vegan cosmetics would grow significantly. The vegan cosmetics sector is growing thanks to protests against animal testing. In the West, the tendency is spreading at an unprecedented rate, and according to FMI, it will soon be common in many high-potential areas throughout the world.

Recent surveys indicate that British women are more inclined to buy cruelty-free cosmetics, yet only one-third of them rigorously adhere to the vegan lifestyle. FMI considers that social trends like the “clean beauty”

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