The growing number of online retailing channels has increased the accessibility of these products and is able to capture a large consumer base. The cosmetic manufacturers are increasingly using online modes to develop an online store and are also required to maintain strong relations with the existing retail channels in order to satisfy the increasing demand of their consumers and maximize their utility.

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On the basis of application, the color cosmetics market is categorized into nail products, lip products, eye make-up, facial make-up, hair color products, and special effect products. Applications such as lip products, facial make-up, nail products, and hair color products are expected to register higher growth than other applications during the forecast period.

With an increasing number of working populations globally, the trend for coloring their lips, nails and eyelashes are increasing and as a result, the cosmetic manufacturers are rapidly increasing their make-up range and enhancing the distribution reach as the new players enter the market. The attractive packaging that comes with these cosmetic products makes it very appealing and gain instant attention from the consumers.

The manufacturers are progressively introducing new colors in lipsticks, nail paints, foundations, face powder and eyeshadows which create a wider scope of expansion for color cosmetics market. The new products introduced are increasingly adopted by the innovators and early adopters of the adoption process cycle that comprises of the majority of the market globally and supports the growth of the global color cosmetics market.

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The global color cosmetics market is expected to witness the fastest growth in Asia-Pacific. The increasing disposable income of the population, accelerating consciousness regarding appearance and improving quality of life are the major factors contributing towards the growth of the color cosmetics market in this region.

Source: VynZ Research