A pigment dispersion containing a pigment dispersing agent having a partial structure denoted by General Formula 1 described below and a pigment adsorption portion in the same molecule, a white pigment, and any one of a hydrocarbon-based solvent, a ketone-based solvent, an ester-based solvent, and an alcohol-based solvent (in General Formula 1, R1 and R2 each independently represent an alkyl group having 1 to 4 carbon atoms, an alkoxyl group having 1 to 2 carbon atoms, or a hydrogen atom, and n represents a natural number), in which a white coated film having glossiness is obtained, and a b value of the coated film after being subjected to a high temperature treatment decreases; a white decorative material and a substrate attached with a white decorative material using the pigment dispersion, a transfer material for forming a white decorative material and a touch panel using the white decorative material and a substrate attached with a white decorative material, and the transfer material for forming a white d
