(MENAFN- iCrowdNewsWire) iCrowdNewswire - Apr 10, 2019
According to the new market research report " Cosmetic Dyes Market by Type (Natural and Synthetic Dyes), Application (Facial makeup, Eye makeup, Hair color, Lip products, Nail products, Toiletries), and Region (Europe, North America, APAC, South America, and MEA) - Global Forecast to 2023″, The Cosmetic Dyes Market is projected to grow from USD 280 million in 2018 to USD 366 million by 2023, at a CAGR of 5.5%, from 2018 to 2023.
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The global cosmetic dyes market is driven by the increasing use of cosmetic dyes in the cosmetics and personal care products. The use of cosmetic products, such as foundations, eyeliners, lipsticks, blushers, and nail polishes is increasing. This is driving the cosmetic dyes market since cosmetic dyes is an essential ingredient of these products. However, stringent regulatory policies restrain the growth of cosmetic dyes market.
Increasing use of cosmetic dyes in cosmetics & personal care products expected to drive the market during the forecast period.
The market size of cosmetic dyes is estimated to be USD 280 million in 2018 and is projected to reach USD 366 million by 2023, at a CAGR of 5.5%, from 2018 to 2023. One of the major restraints of the cosmetic dyes market faced by manufacturers of cosmetic dyes and cosmetic products, such as facial makeup and hair color products is stringent regulatory policies regarding manufacturing and use of these dyes.
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The market size of cosmetic dyes is estimated to be USD 280 million in 2018 and is projected to reach USD 366 million by 2023, at a CAGR of 5.5%, from 2018 to 2023.
Cosmetic dyes are defined as a natural or synthetic water-soluble substances used for imparting color to the substrates. The dye molecules are chemically bonded to the surface of the substrate. The use of cosmetic dyes in cosmetics and personal care products, such as foundations, eyeliners, lipsticks, blushers, nail polishes, and others is increasing. This is driving the cosmetic dyes market since cosmetic dyes is an essential ingredient of these products.
The key players in the cosmetic dyes market include Sensient Cosmetic Technologies (France), Clariant (Switzerland), DyStar (Singapore), Neelikon (India), Chromatech (India), Pylam (US), Organic Dyes and Pigments (US), Koel Colours (India), Aakash Chemicals and Dyestuffs (US), and Goldmann Group (Germany). The cosmetic dyes market report analyzes the key growth strategies adopted by leading market players, between 2013 and 2018, which include expansion, new product launch, and merger & acquisition.
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Sensient Cosmetic Technologies is among the key players in the cosmetic dyes market, who have adopted both organic and inorganic strategies, such as new product launch, expansion, and merger & acquisition. Sensient Cosmetic Technologies is a unit of Sensient Technologies Corporation, which is a global manufacturer and marketer of flavors and fragrances, colors, cosmetic and pharmaceutical systems, specialty inks and colors, inkjet, and other specialty chemicals. The company offers a wide range of dyes that are used in the manufacturing several cosmetic formulations including facial makeup, lip products, hair dyes, eye products, and toiletries. It has adopted a strategy of expanding its production capacity and product lineup. It is focusing on its cosmetic dyes offering through its color business. In 2014, Sensient Cosmetic Technologies announced the expansion of its current production site in Saint Ouen L'Aumône, France. This expansion helped the company to increase its production capacity that will help it to meet the increasing demand for cosmetic dyes from cosmetics and personal care industries. The company has also decided to dedicate more resources to its R & D to develop a global center of expertise for cosmetics.
Clariant leads the cosmetic dyes market. It is one of the leading chemical companies, globally. The company operates through four business segments, namely, care chemicals, catalysis, natural resources, and plastics & coatings. They are further segmented into several units, such as industrial & consumer specialties, catalysts, oil & mining services, functional minerals, additives, masterbatches, and pigments. The company targets the APAC region by making an investment and opening new manufacturing plants for dye and pigments. Through its new plant in Roha, India, the company is strengthening its presence in the Asian market. In 2018, Clariant launched a durable magenta shade for the cosmetic industry. The New Sanodye Magenta LF combines red and blue in a non-bleeding single dye formulation. Sanodye Magenta LF exhibits good dye bath stability and enables a stable dyeing process
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