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The eye makeup market size is forecast to increase by USD 7.67 billion at a CAGR of 7.18% between 2023 and 2028. The market is experiencing significant growth, driven by consumer experimentation with textures and styles. Eyebrow products and fake eyelashes continue to gain popularity, with partnerships between famous people, actresses, artists, and influencers boosting sales for eye makeup lines. The consumer base is increasingly turning to online shopping due to convenience and a wider range of options. However, logistical challenges in the cosmetics industry, such as ensuring product freshness and timely delivery, pose a significant hurdle. To stay competitive, cosmetic companies must innovate and offer unique products to meet evolving consumer behavior and preferences.
The eye makeup market encompasses a range of makeup items designed to enhance and accentuate the eyes. These products include eyeshadow, eyeliner, and mascara. The market's growth is influenced by various factors, including consumer preferences, product innovations, and market trends. Eyeshadows come in various colors, from subtle shades to bold hues, and are used to add depth and dimension to the eyes. Water and emulsifiers are essential ingredients in eyeshadow formulations, providing the desired texture and consistency. Moisturizers and thickeners are also added to ensure a smooth application and long-lasting wear.
Furthermore, eyeliners, available in pencil, liquid, and gel formats, define and line the eyes, making them appear more defined and expressive. Waterproof formulations are increasingly popular due to their longevity, especially in humid climates. Mineral-based eyeliners are also gaining traction due to their natural and vegan-friendly appeal. Mascara, a staple in every makeup collection, lengthens, curls, and volumizes lashes, making them appear fuller and more prominent. Water, emulsifiers, and thickeners are common ingredients in mascara formulations, providing the desired texture and consistency. Market development in developing economies, driven by increasing disposable income and the influence of beauty and fashion, is fueling the growth of the eye cosmetic products market.
Also, the ease of use and availability of these products, coupled with the growing influence of influencer culture, are further boosting market growth. Innovation is a key driver in the eye cosmetic products market, with brands constantly introducing new product formats, colors, and textures to cater to evolving consumer preferences. Celebrity endorsements and collaborations are also effective marketing strategies, increasing brand awareness and consumer interest. Online retail and e-commerce platforms have made eye cosmetic products more accessible to consumers, allowing them to shop from the comfort of their own homes. The convenience and ease of purchasing these products online have contributed to the market's growth.
In conclusion, the eye makeup market is driven by various factors, including consumer preferences, product innovations, and market trends. The availability of a wide range of products, from subtle shades to bold hues, catering to different consumer needs and preferences, is fueling the market's growth. The increasing influence of beauty and fashion, coupled with the convenience of online shopping, is further boosting market development.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. The offline segment held the largest market share in the global eye cosmetic products industry in 2023, and this trend is expected to continue throughout the forecast period. The expansion of the retail sector and the establishment of numerous retail outlets have significantly boosted the sales of eye makeup products through offline channels. These retail formats offer consumers a vast selection of products and the convenience of purchasing all their desired items in one location. Eye makeup products are extensively distributed through three primary retail formats in the offline segment: specialty stores, mass merchandisers, and drugstores. Specialty stores are increasingly popular as they allow customers to explore a variety of brands and choose the one that best suits their preferences.
Moreover, mass merchandisers, such as hypermarkets, supermarkets, convenience stores, and warehouse clubs, offer competitive pricing and a wide range of products, making them a preferred choice for budget-conscious consumers. Drugstores provide easy access to essential eye cosmetic products and offer the added benefit of pharmacy services. Key components of eye cosmetic products include water, emulsifiers, moisturizers, thickeners, fragrances, colors, and various additives. These products are available in subtle and bold shades, as well as waterproof and mineral-based formulations, catering to diverse consumer preferences. Eye makeup products are essential for enhancing the natural beauty of the eyes and are an integral part of daily routines for many individuals. The market is expected to grow significantly due to increasing consumer awareness, changing beauty trends, and the availability of innovative products.
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The offline segment was valued at USD 9.96 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 46% 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.
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The market in APAC is the largest segment globally and is expected to maintain this position throughout the forecast period. The growth of the market in APAC can be attributed to several factors, including the expanding e-commerce industry and the growth of traditional retail stores. companies in this region are adopting a multichannel retail strategy to cater to the increasing consumer preferences for online shopping. The rise in disposable income, particularly among the young working population, presents significant opportunities for the market in APAC. China, Japan, and India are key contributors to the market's growth in this region.
In addition, the growing middle class in APAC is leading to an increase in demand for beauty and fashion products, including eye makeup. Consumers in APAC are increasingly seeking out innovative and high-quality eye makeup products. The trend of premiumization is gaining traction in the market in APAC, with consumers willing to pay a premium for high-quality and unique products. companies in the market are leveraging social media and celebrity endorsements to promote their products. Additionally, there is a growing demand for vegan and cruelty-free eye makeup products, which is leading to product development and innovation in this space. The e-commerce sector is facilitating the growth of the market in APAC by providing consumers with easy access to a wide range of products from various brands.
Our researchers analyzed the data with 2023 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 rising awareness about eye makeup is the key driver of the market. The market has experienced notable growth due to a heightened focus on self-care, fashion trends, and the availability of advanced, safe, and effective products. The global beauty and personal care (BPC) industry is undergoing transformation, influenced by shifting consumer demographics and lifestyles. Urbanization, personal grooming concerns, and fashion consciousness have significantly impacted the BPC industry worldwide.
In the United States, the millennial demographic plays a pivotal role in the BPC industry, with a strong emphasis on appearance and health. As tech-savvy consumers, they are well-informed about new trends and product launches in the industry. Beauty pageants, fashion shows, red carpet occasions, and celebrity culture have further fueled the demand for eye makeup products. Makeup artists and beauty influencers provide tutorials and product suggestions, guiding consumers in making informed purchasing decisions. The ongoing innovation in eye makeup technology ensures that the market continues to thrive.
The growing preference for online shopping is the upcoming trend in the market. The market has experienced notable growth due to the wave in online sales channels. E-commerce platforms provide consumers with a convenient way to explore and purchase various eye makeup products, including eyebrow enhancers. The proliferation of online shopping portals and the widespread use of smartphones have enabled companies to expand their reach beyond traditional brick-and-mortar stores.
Further, major online retailers dominate the online sales of eye makeup. As more consumers turn to e-commerce for their personal care needs, the share of online retail sales in the overall retail market is anticipated to grow. Additionally, the market caters to various consumer preferences, ranging from organic to conventional, economy to premium, and packaged meals to drinks and frozen sweets. Eye makeup remains a popular category within the personal care sector.
The logistics issues in cosmetics industry is a key challenge affecting the market growth. In the dynamic world of cosmetics, eye makeup continues to captivate consumers with its endless possibilities for experimentation in textures and styles. Eyebrow products, fake eyelashes, and various eye makeup lines are at the forefront of this trend, with cosmetic companies partnering with famous people, actresses, artists, and influencers to showcase their offerings. This collaboration not only adds credibility but also fuels consumer interest. Effective logistics management plays a pivotal role in ensuring the availability of these popular items. Cosmetic companies face challenges in transporting and distributing products from suppliers to retailers, necessitating expertise in handling high volumes, temperature control, and navigating licenses.
However, warehouse management is crucial, particularly for perishable eye makeup products, which require refrigeration to maintain their quality. The consumer base for eye makeup is vast and diverse, with consumer behavior influenced by various factors such as trends, pricing, and product innovation. Cosmetic companies must stay attuned to these shifts to remain competitive in the market. By focusing on efficient logistics and understanding consumer preferences, they can cater to the ever-evolving demands of the eye makeup industry.
The market forecasting 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 market growth analysis strategies.
Customer Landscape
Companies 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 market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Eye cosmetic products, including eyeshadow, eyeliner, and mascara, continue to capture the attention of consumers worldwide. These essential facial beauty products offer a wide range of colors, from subtle shades to bold hues, catering to various preferences and styles. Water, emulsifiers, moisturizers, thickeners, fragrances, and colors are key ingredients used in the production of these items. Market development in eye cosmetics is driven by factors such as ease of use, ease of availability, and affordable pricing. Developing economies and consumer trends in affordable luxury, halal cosmetics, private label brands, and social media influence are significant growth areas. Innovation and product development, including waterproof and mineral-based products, continue to shape the market.
In summary, eye makeup products are often marketed through celebrity endorsements, collaborations, and influencer culture. Consumer preferences for long-lasting eyelashes, artistic makeup styles, and vegan products have led to ongoing innovation and experimentation with textures, styles, and formats. Convenience stores, specialty stores, online retailers, and e-commerce platforms offer diverse options for purchasing these items. Global internet usage and social media platforms have significantly influenced the marketing strategy for eye cosmetics. Beauty influencers, makeup artists, tutorials, and product suggestions play a crucial role in consumer purchasing decisions. The ongoing innovation and partnerships with famous people, actresses, artists, and influencers continue to expand the consumer base and consumer behavior, driving market growth and market segmentation.
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Market Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.18% |
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Market growth 2024-2028 |
USD 7.67 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.28 |
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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 46% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amway Corp., Anastasia Beverly Hills LLC, Chanel Ltd., Colorbar Cosmetics Pvt. Ltd., Cosmetic Manufacturers Aust. Pty Ltd., DIC Corp., FORMA BRANDS LLC, Iredale Cosmetics Inc., LOreal SA, LVMH Group., Manash Lifestyle Pvt. Ltd., Mary Kay Inc., Natura and Co Holding SA, Oriflame Cosmetics S.A., Revlon Inc., Revolution Beauty Ltd., RMS Beauty LLC, Shiseido Co. Ltd., The Estee Lauder Companies Inc., and Unilever PLC |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive 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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