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The eye makeup market size is estimated to grow at a CAGR of 5.93% between 2022 and 2027. The eye makeup market size is forecast to increase by USD 5.83 billion. The growth of the market depends on several factors, including rising awareness about eye makeup, increasing working women population, and social media and celebrity endorsements.
This eye makeup market report extensively covers market segmentation by distribution channel (offline and online), type (eyes liners, eye shadows, false lashes, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing working women population is notably driving the market growth, although factors such as the risk of exposure to toxic chemicals may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing working women population is notably driving the market growth. Due to their desire for value, young, wealthy women are the primary target market for eye makeup products. Manufacturers are compelled to release new products due to shifting consumer preferences and fashion trends. The market is expanding as a result of ongoing product innovation and rising self-consciousness about one's appearance.
In developing nations like China, the number of working women has been rising in recent years. Working women made up 59% of the total population in 2021, up from 57% in 2015, according to The World Bank Group in the UK. Similar trends were observed in the UAE, where working women made up 47% of the population in 2021 compared to 46% in 2020. The number of households with two incomes has increased as a result of the rise in the number of working women. Hence, as the number of working women increased, their purchasing power boosted the demand for eye makeup products, which, in turn, will boost the market growth during the forecast period.
The increasing popularity of organic and natural products is an emerging trend in market growth. The use of natural ingredients such as natural antioxidants, flower extracts, and aloe vera gel is replacing the use of various cosmetic chemicals by original design manufacturers (ODMs) of cosmetics and beauty products. Consumer preferences for chemical-free natural makeup options have recently fueled demand for natural cosmetics, including eye makeup. Additionally, the green beauty and clean beauty movements are forcing cosmetic scientists to develop new formulations using traditional and regional ingredients.
The exponential increase in demand for natural cosmetics, including eye makeup, and increasing consumer awareness about the use of harmful chemicals in cosmetics are the major factors responsible for the high market growth rate. Growth strategies are influenced by natural cosmetics for beauty products as manufacturers aim to capitalize on color cosmetics and fragrances. For instance, Eyeconic Insta Cool Kajal with cucumber seed extracts was introduced by Hindustan Unilever Ltd. (Lakme) in April 2021. Thus, it is anticipated that during the forecast period, such factors will spur the growth of the global market.
The risk of exposure to toxic chemicals is a major challenge impeding market growth. The use of hazardous ingredients in cosmetics, including eye makeup, is a growing concern because they may result in health risks like cancer and skin conditions. Color eye shadows contain chemicals that have been linked to hormone disruption and health problems like cancer (from formaldehyde and other compounds). Some eye makeup products contain chemicals that have negative side effects and harm to the skin, including sodium sulfates, parabens, phthalates, triclosan, and other reactive acids. Due to their drying effects on the skin's essential minerals and vitamins as well as natural body oils, these chemicals may also cause premature skin aging.
Eye shadow contains harmful metals, titanium dioxide, formaldehyde, mineral oils, and titanium dioxide. These are the main factors that cause cancer. Heavy metals like lead, arsenic, and carbon black that are present in eyeliner can harm the reproductive system and cause cancer. As more consumers become aware of the risks associated with these products, the adoption rate will decrease. Hence, such factors will hinder the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Eye Makeup Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Anastasia Beverly Hills LLC - The company offers products such as eye makeup, face makeup, lip makeup, makeup brushes, and eyebrow makeup. The key offerings of the company include eye makeup products such as volumizing mascara, eyeshadow singles, soft glam eyeshadow palette, liquid liner, and dark side waterproof eyeliner.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. In terms of market share, the offline segment held the largest share of the global market in 2022. The offline segment of the market is being driven by the expanding retail sector and the opening of numerous retail locations. These stores give customers a wide variety of products to pick from and the convenience of finding everything in one place.
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The offline segment was valued at USD 9.59 billion in 2017 and continued to grow until 2021. For eye makeup products, specialty stores are very popular. This is because specialty stores offer personal luxury goods from various brands. Affluent shoppers and loyal customers are drawn to such stores to buy desired eye makeup items that are not sold online or in other retail establishments. Mass merchandisers include supermarkets, hypermarkets, and department stores that offer limited and popular brands of eye makeup. Eye makeup brands have been able to increase their visibility and reach due to the growing presence of organized retail stores, which stock a variety of products from numerous brands. Additionally, more mass merchandisers are entering the market to offer their own lines of eye makeup products because consumers are more likely to purchase these items after reading product reviews. Additionally, as consumers find it more convenient to buy goods from drugstores, drugstores are expanding their selection of eye makeup products. Due to the prevalence of pharmacies and drugstores, customers find it simple to visit nearby drugstores and buy the necessary item. Hence, all such factors will boost the offline segment of the market during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The global market for eye makeup was dominated geographically by APAC, and this trend will continue throughout the forecast period. The market is aided by the expanding e-commerce sector as well as the development of the conventional retail store model. Vendors in the regional market, therefore, concentrate on implementing a multichannel retail strategy. Furthermore, increased disposable income presents growth opportunities for the APAC market, especially for the young working population. The biggest regional producers of eye makeup are China, Japan, and India.
Vendors are highlighting and promoting their eye makeup products on social media and through celebrity endorsements. The rising trend of promoting eye makeup products on social media platforms is made possible by the booming demand for social media. The last five years have seen a significant increase in fashion consciousness among Generation X and millennials, which is also anticipated to continue to fuel demand for eye makeup products. Hence, such factors will boost market growth during the forecast period.
The outbreak of COVID-19 during 2020-2021 negatively impacted the market in APAC. However, since 2021, due to the initiation of large-scale vaccination drives in numerous countries in the region, most lockdown restrictions were lifted, and many companies reopened offices and workplaces. After the resumption of normal activities, the market in the region started reviving in 2022. Furthermore, the increasing adoption of e-commerce channels and the launch of new products will further propel the growth of the market in APAC during the forecast period.
The eye makeup market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global eye makeup market as a part of the global personal products market within the global household and personal products market. The parent global personal products market covers products and companies engaged in research and development (R&D) and the production of personal and beauty care products, including cosmetics and perfumes. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Eye Makeup Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.93% |
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Market growth 2023-2027 |
USD 5.83 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.21 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 44% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amway Corp., Anastasia Beverly Hills LLC, CHANEL Ltd., Colorbar Cosmetics Pvt. Ltd., DIC Corp., FORMA BRANDS LLC, Iredale Cosmetics Inc., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Manash Lifestyle Pvt. Ltd., Mary Kay Inc., Natura and Co Holding SA, Oriflame Holding AG, Revlon Inc., Revolution Beauty Ltd., Shiseido Co. Ltd., The Estee Lauder Co. Inc., Unilever PLC, RMS Beauty LLC, and Cosmetic Manufacturers Aust. Pty Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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