PORTLAND, Oregon, June 24, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Mineral Cosmetics Market by Product Type (Face Cosmetics, Lips Cosmetics, and Eye Cosmetics), and Distribution Channel (Retail Distribution, E-Commerce, and Beauty Center & Spas): Global Opportunity Analysis and Industry Forecast, 2018–2026". According to the report, the global mineral cosmetics market was pegged at $2.1 billion in 2018 and is projected to garner $2.92 billion by 2026, registering a CAGR of 4.7% from 2019 to 2026.
Shift in consumer taste and preference, rise in health consciousness among men & women, and surge in focus on mineral cosmetic products have boosted the growth of the global mineral cosmetics market. However, high price of products and threat from substitutes hamper the market growth. On the contrary, rise in disposable income and innovative marketing strategies of the market players are expected to create lucrative opportunities in the near future.
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Face cosmetics segment to manifest fastest growth through 2026
The face cosmetics segment is estimated to register the fastest CAGR of 5.9% during the forecast period, owing to rising trend among women regarding appearance modification and attractiveness. However, the lips cosmetics segment held the largest share in 2018, contributing more than two-fifths of the total market. The eye cosmetics segment is also expected to show gradual growth.
Retail distribution dominates market
The retail distribution segment held the lion's share in 2018, accounting for more than two-fifths of the market, owing to the large presence of retailers and retailing stores where customers physically experience the product to verify its quality. However, the e-commerce segment is projected to portray the fastest CAGR of 6.7% during the forecast period, owing to the growth in internet penetration and increased usage of mobile phones across the globe. The beauty center & spas segment would show a gradual growth by 2026.
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Asia-Pacific region to create lucrative opportunities by 2026
The market across Asia-Pacific region is expected to manifest the fastest CAGR of 5.4% during the forecast period, owing to rise in consciousness toward maintaining one's personal appearance, increase in disposable income, and change in lifestyle. The market across other regions such as North America, LAMEA, and Europe would also show gradual growth.
Major market players
The global mineral cosmetics market report provides an in-depth analysis of the key market players such as L'Oreal, Glo Skin Beauty, REVLON, Mineralissima mineral makeup, Clariant, Shiseido, Merck, ECKART, BASF, and Neelikon.
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