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Mineral Cosmetics Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global mineral cosmetics products market was valued at USD 5.9 billion in 2021 and is projected to expand at a CAGR of 11.1% from 2022 to 2030. Mineral cosmetics are gaining traction in the beauty and personal care industry due to their ability to provide natural coverage and protection against the sun. Mineral cosmetics are made up of a blend of minerals such as zinc oxide, titanium dioxide, mica, iron oxides, and talc, which offer customers a natural alternative to conventional cosmetics.
The growing demand for natural and organic beauty products will drive the market in the coming years. Consumers are increasingly shifting towards natural and organic products, which are considered to be safer and more effective. Manufacturers are formulating natural mineral makeup products to meet this growing demand. For instance, in April 2021, Kiko Milano launched its mineral makeup line, which features a range of natural makeup products such as face powder, blush, and foundation.
The rise in the prevalence of skin problems such as acne, wrinkles, and dark spots has led to an increase in the demand for mineral cosmetics. Mineral cosmetics are increasingly being used as a natural remedy for skin problems as they are free from harsh chemicals and provide a layer of protection from the sun. For instance, in May 2021, Bare Minerals launched a new skincare line that features mineral-based products designed to help reduce acne and prevent wrinkles.
In addition, the increasing demand for long-lasting makeup is propelling the market. Consumers are opting for makeup products that require less frequent touch-ups and last longer, which is driving the demand for mineral cosmetics. For instance, in April 2021, Estee Lauder launched a long-wear mineral makeup collection that includes a range of products such as foundation, concealer, eyeshadow, and blush, which are designed to give a natural and long-lasting finish.
The increasing availability of these products online is also contributing to the growth of the market. The online platform offers a wide variety of products, along with various offers and discounts that attract consumers, thus boosting sales. Furthermore, the increasing number of product launches to cater to the growing demand is expected to further support the growth of the market. For instance, in March 2021, L’Oreal launched a mineral makeup line featuring a range of products, such as foundation and face powder, which are designed to provide natural coverage.
Product Insights
The face makeup segment constituted the largest share of around 37.5% in 2022. Mineral makeup products are gaining traction due to their natural ingredients and skin-friendly properties. Furthermore, the increasing demand for natural and organic mineral makeup products is propelling the demand for mineral makeup products. According to an article published by The Dermatology Review, in March 2020, mineral makeup products are often preferred among those with sensitive skin, as the minerals used in its composition are less likely to irritate the skin.
The eye makeup segment is anticipated to register the fastest growth rate over the forecast period. Expansion of product portfolios by mineral makeup brands coupled with the rising trend of eye makeup is expected to drive the segment growth. According to an article published by Style Craze, in April 2020, mineral makeup is an ideal choice for eye makeup, as it contains fewer chemicals and is less likely to cause irritation around the eyes. In addition, increasing awareness regarding the importance of eye makeup among consumers is expected to fuel the market growth over the forecast period.
Distribution Channel Insights
The supermarkets and hypermarkets segment is anticipated to remain dominant during the forecast period. The growth of this segment is mainly driven by the growing number of supermarkets and hypermarkets. The rising inclination of consumers to purchase mineral cosmetics products from such stores is also a major factor driving the segment’s growth. These stores offer a wide range of mineral cosmetics products, along with the convenience of comparing different products and selecting the best one.
The online segment is anticipated to expand at the highest CAGR of 12.2% over the forecast period. This is mainly attributed to the rising use of the Internet and the increasing preference for online shopping among customers. Moreover, the increasing presence of online stores that offer mineral cosmetics products at discounted prices and promotional offers are also expected to fuel the growth of the segment. In addition, companies are launching new websites and shopping apps to increase their brand visibility among consumers.
Type Insights
The mineral segment accounted for the highest revenue share of 77.4% in the year 2022. The demand for mineral cosmetics products has been driven by the increasing awareness regarding the benefits of natural and organic products among consumers. Mineral cosmetics are made with naturally derived ingredients that are free of chemicals and preservatives and provide a natural finish to the skin. Furthermore, the increasing number of product launches with natural ingredients is further driving the growth of the mineral segment. For instance, in July 2021, Maybelline New York, a brand of L’Oreal Groupe, launched Mineral Power Natural Perfecting Powder Foundation that is formulated with natural minerals and is free of preservatives, talc, and oils.
The organic segment is anticipated to expand at the highest CAGR of 8.7% over the forecast period. The organic cosmetics are made with natural ingredients that are free of synthetic chemicals, preservatives, and artificial fragrances, and are becoming increasingly popular with consumers. Organic products are also gaining popularity due to the expanding range of products and the increasing presence of organic products in the global market. For instance, in April 2021, Burts Bees, a brand of The Clorox Company, launched an organic lip balm formulated with organic beeswax, coconut oil, and shea butter.
Regional Insights
Europe dominated the market and accounted for the largest revenue share of over 35.6% in 2022. This is mainly attributed to the increasing demand for natural and organic products, coupled with the presence of several prominent players in the region. In addition, the rising demand for mineral cosmetics products due to its health benefits, such as SPF protection, skin hydration, and skin conditioning, is expected to drive the growth of the market in Europe.
North America is expected to witness the second-fastest growth in the coming years. Growing awareness of the health benefits of mineral cosmetics products is expected to drive the growth of the market in the region. Moreover, the presence of prominent players such as The Estée Lauder Companies Inc. and L’Oréal USA Inc. is further expected to drive the demand for mineral cosmetics products in the region. For instance, in May 2021, the Estée Lauder Companies Inc. launched its bareMinerals Complexion Rescue Tinted Hydrating Gel Cream, a mineral-based tinted moisturizer.
Financial Projections
In this part of the mineral cosmetics products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your mineral cosmetics products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a mineral cosmetics products business comes from retail sales, online sales, and bulk orders. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, the sale of merchandise, and partnerships with other companies.
Projecting Expenses
In this section, all the regular expenses related to keeping the mineral cosmetics products business running will be described. The list of operating expenses includes inventory, wages, marketing, utilities, shipping & handling, insurance policies, research & development, and others.
Key companies & market share insights
Some of the key companies operating in the mineral cosmetics market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, L’Oréal launched the True Match Mineral Foundation, a mineral-based makeup product that provides coverage with a lightweight feel.
– In August 2022, Revlon released the Mineral Finishing Powder, a product that is designed to provide a sheer, matte finish.
– In October 2022, Maybelline New York launched the Mineral Power Concealer, a product designed to provide coverage for imperfections.
Some of the prominent players in the mineral cosmetics market include:
– L’Oréal
– Revlon
– Maybelline New York
– The Estée Lauder Companies Inc.
– Shiseido
– Amorepacific Corporation
– Avon Products, Inc.
– Coty, Inc.
– Kose Corporation
– Unilever
Global Mineral Cosmetics Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global mineral cosmetics products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Face Makeup
– Eye Makeup
– Lip Makeup
– Nail Makeup
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the potential of mineral cosmetics products?
[A]: The mineral cosmetics products market is expected to grow significantly due to increasing demand from customers for natural ingredients, improved product shelf-life, and increasing demand for cruelty-free products. Mineral cosmetics products are known for their long-lasting and skin-friendly properties, which has increased the demand for these products. The increasing availability of mineral-based products across the globe, the growing awareness of the benefits of mineral cosmetics products, and the increasing popularity of niche cosmetic brands are some of the major factors driving the growth of the market.
[Q]: Who are the Key Players in the Mineral Cosmetics Products Market?
[A]: The key players in the mineral cosmetics products market are L’Oreal S.A., Estee Lauder Companies, Bare Escentuals, Burt’s Bees, Avon Products, Inc., Revlon, Inc., Shiseido Company, Limited, LVMH, and The Body Shop International PLC.
[Q]: Which Region Offers the Largest Opportunity for Sales of Mineral Cosmetics Products?
[A]: The Asia Pacific mineral cosmetics products market is expected to witness the highest growth rate during the forecast period. This can be attributed to the increasing number of women in the region and the rising demand for natural and organic products. Growing disposable incomes and rising awareness of the benefits of mineral-based cosmetics products are also expected to drive this market in the Asia Pacific region.
[Q]: What are the factors driving the mineral cosmetics products market?
[A]: The key factors driving the growth of the mineral cosmetics products market include the increasing demand for natural and organic products, growing awareness of the benefits of mineral-based cosmetics products, and the increasing availability of mineral-based products across the globe. Additionally, the growing number of women in the Asia Pacific region and the increasing disposable income are also expected to drive the growth of the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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