According to analysts at Vantage Market Research, the Pressed Powder Market is expected to reach USD 6,253 Million by 2028, growing at a CAGR of 5% between 2021 and 2028. The rapid development of the automotive industry and the coatings used in automobile products are required to promote the demand for cosmetic coatings.
- The oily skin segment is projected to expand at the fastest CAGR exceeding 5.4% over the forecast period owing to the increasing demand for pressed power due to high living standards, and rapid urbanization is expected to drive the market in the years to come.
- The women segment held a market share of around 30% in 2020. This share is due to the rising in advanced technological development creating a huge demand for the pressed powder market.
- Asia Pacific is expected to expand at a CAGR of over 5.7% from 2021 to 2028. This surge is attributed to the rising demand for pressed powder markets in developing economies such as China and India.
Growing requirements for consumer goods, such as washing devices and freezers, in the emerging countries, thus boosting the pressed powder regional market growth. Increasing requirement for automotive in developing marketplaces coupled with favorable FDI standards by the governments is required to facilitate advances in the region.
North America is expected to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. A notable increase during the projected period is seen due to the superior characteristics of powder coatings over conventional paints including great protection to corrosion and chipping & abrasion, stability, cost-effectiveness, superior finishing, and reduced processing conditions.
Some of the key players in the Pressed Powder Market include Missha, MaxFactor, Guerlain, Laneige, Maybelline, Carson, Lâ€™OREAL, OPERA, LaMer, Za, CHANEL, M.A.C, Giorgio Armani, Dior, DODO, LANCOME, Laneige, EsteeLauder., among others. The market is comprised of a high degree of competition due to the presence of numerous key players.