Nano Cosmetic Pigments Market Size Forecast to Reach $1.1 Billion by 2026

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Nano Cosmetic Pigments Market Size Forecast to Reach $1.1 Billion by 2026

August 11
16:08 2021
Nano Cosmetic Pigments Market Size Forecast to Reach $1.1 Billion by 2026
Nano Cosmetic Pigments Market
The Increasing Personal Care and Cosmetic Sector Act as a Driver for the Nano Cosmetic Pigments Market.

Nano Cosmetic Pigments Market size is forecast to reach $1.1 billion by 2026, after growing at a CAGR of 6% during 2021-2026, owing to the increasing usage of nano pigments such as titanium dioxide, zinc oxide, carbon black, iron oxide, and more in various cosmetic products such as facial makeup, sunscreens, lip products, and more. The ultimate goal of the cosmetic industries when using nano pigments is to deliver the right amount of ingredients to the desired parts of the body and to attain long term stability, which is expected to increase the market demand. 

The rapid growth of the cosmetic industry has increased the demand for nano cosmetic pigments; thereby, fueling the market growth. Furthermore, the increasing demand for sunscreens is also expected to drive the nano cosmetic pigments industry substantially during the forecast period.

COVID-19 Impact

The COVID-19 outbreak has made a large economic impact on consumer spending globally. Due to the pandemic, the personal care industry has been heavily affected. The pandemic has resulted in the reduction of discretionary expenses such as cosmetics and sunscreen by the consumers. While spending on necessities such as personal liquid soap, hand, and body lotions are relatively protected. 

Owing to these factors the demand for cosmetics is hindered during the pandemic. Thus, this change in consumer consumption is directly impacting the nano cosmetic pigments market as the demand for cosmetic ingredients such as titanium dioxide, zinc oxide, carbon black, iron oxide, and more is declining during the coronavirus outbreak.

Nano Cosmetic Pigments Market Segment Analysis – By Type

The inorganic nanoparticle segment held the largest share in the nano cosmetic pigments market in 2020 and is growing at a CAGR of 6.7% during 2021-2026, owing to the various advantages that it offers such as non-toxic, hydrophilic, biocompatible, and highly stable compared to organic nanoparticles, and more. TiO2 is one of the most commonly used inorganic nanoparticles for sunscreens, and it has a higher sun protection factor (SPF) in the nanoscale, which makes it more effective and has a better cosmetic result compared to TiO2 pigment because of its transparency. 

Nanoparticles of ZnO and TiO2 are also widely used in sunscreens as UV filters starting at the size of 20 nm as they show better dispersion and leave a better cosmetic result. All these extensive characteristics of inorganic nanoparticles are the key factor anticipated to boost the demand for nano cosmetic pigments in various regions during the forecast period.

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Nano Cosmetic Pigments Market Segment Analysis – By Application

The facial makeup segment held the largest share in the nano cosmetic pigments market in 2020 and is growing at a CAGR of 7.3% during 2021-2026, owing to the increasing usage of nano pigments such as titanium dioxide, zinc oxide, carbon black, iron oxide, and more in facial makeup products. In facial makeup applications, such as foundations, blushers, and powders, cosmetic pigments are used, where titanium dioxide is used to add clarity. 

Face powders often include talc, kaolin, iron oxide, zinc oxide, titanium dioxide. In addition, face powders are known to provide sunscreen protection with the inclusion of strong light scattering components such as zinc oxide. The particle size distribution of these components enhances the appearance, stability, and sunscreen protection of facial makeup products, which is the major driving factor for the nano cosmetic pigments market in the application of facial makeup during the forecast period.

Nano Cosmetic Pigments Market Segment Analysis – By Geography

Europe region held the largest share in the nano cosmetic pigments market in 2020 up to 41%, owing to the increasing demand for nano cosmetic pigments such as titanium dioxide, zinc oxide, carbon black, iron oxide, and more from the flourishing cosmetic industry in the region. According to the Centre for the Promotion of Imports from developing countries (CBI) Ministry of Foreign Affairs, France has the second-largest natural cosmetics market in Europe, valued at €720 million. 

Italy’s cosmetic industry turnover reached $12.3 million in 2017, according to the International Trade Administration (ITA), which reported a rise of 4 percent compared to the previous year. Italian exports of cosmetics continue to grow as well, rising by 13 percent in 2017. According to International Trade Administration (ITA), the total cosmetic production of France increased from 22,236 in 2018 to 22,680 in 2019. Thus, with the flourishing cosmetic industry, the demand for cosmetic pigments will also subsequently increase, which is anticipated to drive the nano cosmetic pigments market in the European region during the forecast period.

Nano Cosmetic Pigments Market Drivers

Extensive Characteristics of Nano Cosmetic Pigments

There are properties of cosmetic pigments, such as bright and dazzling luster, glitter, and shine, owing to which it is exceptionally utilized in the formulation of cosmetics. These pigments are particles that are colored, colorless, or fluorescent. They can be finely powdered organic or inorganic solids. They are usually insoluble and unaffected by the medium in which they are integrated chemically. Thus, they are used in a wide range of cosmetic applications such as facial makeup, lip products, eye makeup, and nail products. In addition, the use of nano cosmetic pigments in facial makeup helps cover blemishes and uneven skin tone, owing to the demand for pearlescent pigments that are widely used in root makeup products. Hence, the increasing aviation industry acts as a driver for the advanced glass market.

Increasing Personal Care & Cosmetic Industries

The personal care and cosmetic sector are booming in varied regions due to the increasing demand from consumers. According to the India Brand Equity Foundation (IBEF), the market size of India’s beauty, cosmetic, and grooming market will reach $ 20 billion by 2025 from the current $ 6.5 billion. Thailand’s beauty and personal care goods industry was estimated at $6.2 billion in 2018 and is forecast to hit $8.0 billion in 2022, according to the International Trade Administration (ITA). The beauty and personal care industry in Thailand is projected to rise by 7.3 percent per year from 2019 to 2022. Since the personal care and cosmetic industries are booming, the demand for cosmetic pigments is also significantly increasing. Thus, the increasing personal care and cosmetic sector act as a driver for the nano cosmetic pigments market during the forecast period.

Nano Cosmetic Pigments Market Challenges

Stringent Government Regulations Pertaining to Use of Certain Pigments

Manufacturers of cosmetic pigments are expected to obey strict regulations relating to cosmetic products. There are various laws governing labeling, packaging, and the materials used in cosmetic manufacturing. These rules are especially stringent in Europe and North America. Many areas of the world are following suit as a result of increased health and environmental awareness. The US Food and Drug Administration now regulate color additives and pigments used in cosmetic applications (FDA). The European Union (EU) has rules in place for health-hazardous pigments and dyes. The EU has restricted the use of cadmium pigments and leads (Pb) along with its compounds due to the environmental risks associated with their use. Such regulations limit the production of cosmetic pigments and thus have a direct effect on the prices of such pigments. The availability of these pigments is moderate because of the strict regulations regarding the manufacture of cosmetic pigments. Moreover, the approval procedure is time-consuming. All these factors restrict the growth of the market for cosmetic pigments.

Nano Cosmetic Pigments Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the nano cosmetic pigments market. Major players in the nano cosmetic pigments market are Bramble Berry, Sun Chemical, BASF SE, Merck, ECKART, Sudarshan, Kobo Products, Clariant, Sensient Cosmetic Technologies, and Geotech.

 Acquisitions/Technology Launches

In June 2019, BASF and siHealth Ltd (UK) formed a strategic partnership to market scientifically-based satellite and optronic technologies to the global personal care industry. BASF’s product range is expected to expand as a result of this partnership, as well as new personal care solutions.

In February 2019, new SpectraFlex illusion pigments for soft-focus effects have been introduced by Sun Chemical. SpectraFlex Distortion soft-focus effect pigments are used in everyday-wear makeup primers to help optically blur fine lines and other imperfections. This launch aided the company in expanding its product line for personal care applications such as face powders, body powders, lipstick, and other skincare applications.

In January 2019, in the area of customized personal care products, BASF and B2B Cosmetics (France) have announced an exclusive, long-term strategic alliance. B2B Cosmetics has added a new personalization device called Emuage technology to help BASF introduce specific knowledge to personal care solutions.

Key Takeaways

Europe dominates the nano cosmetic pigments market, owing to the increasing personal care and cosmetic products industry in the region. The population growth and per capita income is a key factor in the region’s rising personal care and cosmetic products industry.

The beauty industry is well known for customizing makeup products with large choices to boost the appearance of the skin and hair, respecting the uniqueness of the consumers. The adoption of nano cosmetic pigments has increased the preference among consumers for colored materials.

The demand for sunscreen products and indirectly nano-based products is expected to grow at a considerable rate in the next few years. This will ultimately propel the nano cosmetic pigments market in other tropical nations.

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