Eye Makeup Market Overview
Eye Makeup Market 2020 can reach a robust valuation of USD 29.15 Billion by 2030, estimates Market Research Future (MRFR). MRFR also reveals that the market is on track to achieve a substantial growth rate of 7.21% from 2022 to 2030 (forecast period).
Eye makeup refers to a type of cosmetic that is used for making the eyes look attractive and noticeable. It is highly popular among females, as well as stage performers. Eye makeup forms an integral part of the fashion and cosmetic industries.
The Eye Makeup Market Overview has experienced remarkable growth and transformation in recent times. Eye makeup refers to the assortment of cosmetic products and techniques used to enhance and beautify the eyes, including eyeshadows, eyeliners, mascaras, and eyebrow products. It plays a vital role in the beauty and personal care industry, catering to the diverse needs and preferences of consumers globally.
The eye makeup market is propelled by various factors that contribute to its expansion. One of the key drivers is the increasing emphasis on personal grooming and self-expression. Eye makeup allows individuals to experiment with different colors, styles, and trends, enabling them to showcase their creativity and enhance their overall appearance. It has become an integral part of everyday routines, special occasions, and professional makeup applications.
Market Boosters and Top Restraints
Over the years, the rapid surge in social media across the world has left a profound impact on the eye makeup market. Most of the manufacturers are working on expanding their brand campaigns backed by popular brand ambassadors as well as celebrities via social media channels such as Facebook, Twitter, Instagram, Pinterest, YouTube, as well as makeup related blogs. These digital platforms are responsible for not only boosting the product demand but also for educating the consumers about cosmetic products and such via beauty tutorials. These sources of media help producers connect to the consumers directly, prompting the latter to explore new products. Reports reveal that in 2018, “glitter eyeshadow” and “smoky eyes” were in the top five most-searched beauty products on Google.
Mounting awareness with regard to physical appearance induces vigorous market growth for eye makeup. Further, growing per capita income in developing countries like India, China, Indonesia, and Brazil and the subsequent surge in spending on cosmetic products, can also benefit the global market in the following years.
Women happen to be significant consumers in the Eye Makeup Market Size, which renders the product sale highly dependent on the female population. The burgeoning population of millennial women makes up the biggest share of the consumer base in the market. To help with that, the rising number of working-class women also positively impacts the market. With the growing financial independence among women, the spending on personal care products has risen considerably over the past few years. Also, the rapidly expanding corporate sector drives the demand for cosmetics among female employees, given the increasing beauty consciousness.
Leading Companies
L'Oréal S.A. (France), The Estée Lauder Companies Inc. (US), RMS Beauty (US), Anastasia Beverly Hills Inc. (US), Benefit Cosmetics LLC (US), Morphe Cosmetics Limited (US), Revolution Beauty Ltd. (UK), Hindustan Unilever Limited (India), Faces Cosmetics Inc. (US), Christian Dior SE (France), Make Up For Ever LLC (US), Ilia Beauty (US), Huda Beauty FZ-LLC (UAE), Coty Inc (US), Revlon Consumer Products Corporation (US) are some of the leading companies in the eye makeup market.
Market Segmentation
The market segmentation of eye makeup has been considered for product type, nature, category, and distribution channel.
The product types studied in the report include eyeliner, eyeshadow, mascara, eyebrow enhancers, and others. Eyeliner enjoys the highest demand in the market and therefore forms the largest segment. Eyeliners are used by consumers to define the eyes and make them more attractive. In order to be aesthetically pleasing, the demand for eyeliners has risen considerably over the years.
By nature, the primary market segments are organic and conventional. MRFR projects the organic segment to attain a higher growth rate in the near future, on account of the increasing preference among consumers for organic eye makeup products. The conventional segment can however, amass a larger share in the market due to the easy availability and cheaper costs of traditional makeup of eye products compared to organic products.
The category-wise segments are economy and premium. The economy category fares better than the premium category and can achieve a higher CAGR in the coming years. The economy category-based products are easily available in hypermarkets, supermarkets and drugstores, in addition to being highly affordability, which propels their demand in the market.
The distribution channels in the market are store-based and non-store based. The store-based segment dominates the market. The segment consists of hypermarkets as well as supermarkets, specialty stores, and others. Store-based distribution channels provide wide consumer reach, better product visibility, and a variety of products to consumers. The non-store-based distribution channel can be the faster-growing segment, given the extensive delivery range of e-commerce channels.
Regional Insight
Europe, Asia Pacific (APAC), North America, along with the rest of the world (RoW) are the primary markets for eye makeup.
North America is a highly profitable regional market for eye makeup. The highest demand for eye makeup products is generated in developed countries like the United States (US) and Canada. Intense research and development (R&D) along with advertisement and promotions are encouraging the growth of the overall cosmetics market and in turn, the eye makeup market in the region.
Europe, however, is the most lucrative market for eye makeup, as reported in 2018. Introduction of innovative eye makeup products and the evolving consumer demand drives the market growth in the region. More and more manufacturers are now using novel ingredients to cater to the consumer base that is interested in using organic and natural products. The rising trends toward eyebrow pencil and bold eye makeup can also boost the growth prospects for the market in the coming years.
The APAC market can procure the highest growth rate during the evaluation period, on account of the mounting demand for waterproof eye makeup products, as the region is noted for its extreme summers. Waterproof eye makeup has gained immense popularity among women, which is expected to benefit the regional market in subsequent years.
The expansion of the cosmetics and personal care industry in RoW, combined with the rising consumer focus on personal appearance fosters market growth. Accelerated demand for halal cosmetics in the Middle East is identified as a growth opportunity for eye makeup manufacturers in the region.
Eye Makeup Market Research Report Information By Product Type (Eyeliner, Eyeshadow, Mascara, Eyebrow Enhancers, Others), By Nature (Organic, Conventional), By Category (Economy, Premium) and By Distribution Channel (Store-Based, Non-Store-Based) – Forecast to 2030
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