A color-changing composition for caring for and/or making up keratin materials is disclosed. The composition comprises: - a physiologically acceptable medium including at least an aqueous phase, - color-changing microcapsules, said microcapsules having a size ranging from 50 &mum to 1000 &mum, preferably from 80 &mum to 800 &mum, in particular from 100 &mum to 400 &mum, and comprising: (A) a core, having preferably a size ranging from 20 &mum to 800 &mum, comprising at least one colorant and preferably at least one binder, said colorant(s) including preferably at least one inorganic pigment preferably selected from iron oxide(s), and (B) a pressure-breakable wall layer surrounding said core, having preferably a thickness of 10 &mum to 300 &mum, comprising at least one colorant and preferably at least one binder, said colorant(s) including preferably at least titanium dioxide particles, Wherein said microcapsules includes at least 70% by weight of colorant(s), compared to the total weight of said microcapsules.
