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 μm to 1000 μm, preferably from 80 μm to 800 μm, in particular from 100 μm to 400 μm, and comprising: (A) a core, having preferably a size ranging from 20 μm to 800 μm, 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 μm to 300 μm, 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.