The global mineral cosmetics market size is anticipated to reach USD 4.3 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 5.3% during the forecast period, 2019 to 2025. This growth is attributed to rising demand for organic skincare and cosmetic products across the globe. Moreover, rising participation of women in the workforce and financial independence of women in developing countries such as Brazil, India, China, and Bangladesh is projected to drive the market growth over the forecast period.
The segment of face products held the largest market share of over 40% in 2018 owing to shifting consumer preference for organic products and presence of ingredients such as zinc oxide and titanium dioxide which as a protective shield against the harmful rays of sun. Moreover, rising influence of beauty bloggers and social media influencers on consumer group is impacting positively on the market growth. Furthermore, manufacturers are introducing multi-functional products that help in resolving multiple skin problems. This is expected to propel the market growth in the forthcoming years.
Leading companies in this market are focusing in strategic initiatives such as M&A to expand their product portfolio and strengthen their distribution network. For instance, in 2016, L’Oreal S.A. went into acquisition with a wholesaler named Raylon Corporation which is operating in more than 45 states. Similarly, in November 2016, the Estee Lauder Companies Inc. acquired BECCA in order to enhance its consumer reach and expand its product portfolio in makeup segment.
Major companies operating in the mineral cosmetics market include Glo Skin Beauty; Mineralissima Mineral Make-up; Iredale Cosmetics, Inc.; Shiseido Company, Limited; L'Oréal S.A.; BWX Limited; The Estée Lauder Companies Inc.; Revlon, Inc.; Cover FX; and Ahava Dead Sea Laboratories, Limited.
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Further key findings from the report suggest:
• In 2018, the segment of face products accounted for the largest revenue share of USD 1 billion. Lip products segment is projected to grow at the fastest CAGR of 5.6% over the forecast period due to increasing number of working women population
• The offline distribution channel segment accounted for the largest revenue share of over 75% in 2018. The segment of online distribution channels is projected to grow at a CAGR of 6% over the forecast period
• The North America held the largest share of over 35% in 2018. Asia Pacific is projected to expand at the fastest rate owing to rising disposable income levels and rising consumer expenditure
Million Insights has segmented the mineral cosmetics market based on product, distribution channel, and region:
Mineral Cosmetics Product Outlook (Revenue, USD Million, 2015 - 2025)
• Face Products
• Lip Products
• Eye Products
Mineral Cosmetics Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Mineral Cosmetics Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• Saudi Arabia