FORECAST TILL 2025
Eye Makeup Market Insights
Changing fashion trends and increased expenditure on makeup in countries with emerging economies are all expected to contribute to the growth of Eye Makeup Market, the size of which is expected to surpass USD 19.6 Billion by 2025 with a significant 6.6% CAGR over 2019-2025. Eye Makeup has been used by both men and women over the centuries and due to the increasing popularity of cosmetics for enhancing facial features, eye makeup market is anticipated to gain massive profits over 2019-2025. Remarkably, eye makeup accounted for 23% of the overall makeup market in 2018. Enhancing the eyes and eyebrows is an essential part of the overall face makeup regime and therefore products like eyeliner, kohl, mascara, eyebrow pencils, false eyelashes and eye shadow have registered more demand than ever before.
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Segmentation:
Global eye makeup industry is segmented by product type, nature, category and by distribution channel.
On the basis of product type, eye makeup market is divided into eyeliner, eyeshadow, mascara, eyebrow enhancers and others. Among these the eyeliner segment holds the largest revenue share in eye makeup segmentation by product type. Eyeliners are widely used as essential makeup accessory across the world and their availability in waterproof and smudge proof variety has augmented the growth of the overall eye makeup market. In 2018, mascara held the second largest market share and is expected to grow significantly over the forecast period.
On the basis of nature, eye makeup market is divided into organic and conventional. With shifting consumer preference for more naturally derived products that are less harmful and cruelty free, organic eye makeup segment is expected to witness a higher CAGR over the forecast period. However, the conventional segment has register a larger market share in the recent decades due to affordability and easy availability of conventional eye makeup products.
On the basis of category, eye makeup market is classified into economy and premium. Economy eye makeup, also known as drugstore makeup is lower priced and easily available in drugstores and supermarket. As it caters to a larger portion of the population, economy eye makeup holds a larger market share. Comparatively, premium eye makeup holds a smaller share due to its availability in high end stores and its audience consisting of a much smaller section of the community.
On the basis of distribution channel eye makeup market is divided into store based and non-store based. Store based distribution channels are the conventional channels that have been around for a long time and therefore have a wider consumer reach. However, non-store distribution channels that include e-commerce channels are expanding their market share rapidly and are expected to register a higher CAGR due to its extensive delivery range.
Regional Analysis:
North America eye makeup market has been expanding considerably owing to the popular demand for eye makeup among women in U.S. and Canada. Presence of major makeup companies and increased expenditure on makeup items are factors that will drive North America eye makeup industry.
Europe eye makeup market is expected to witness considerable growth owing to development of innovative eye makeup products as well as higher demand of novel products and makeup techniques in the region.
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Asia Pacific is the region that is anticipated to record the highest CAGR during the forecast period in the eye makeup market owing to emergence of the middle-class population in the region who are spending increasingly on makeup and other personal care products. Local as well as international eye makeup brands are expanding their foothold in the region as new pockets of revenue growth continue to emerge.
Competitive Overview:
Some of the leading names in the eye makeup market include L’Oréal S.A., Faces Cosmetics Inc., Hindustan Unilever Limited, The Estée Lauder Companies Inc., Christian Dior SE, Benefit Cosmetics LLC, Anastasia Beverly Hills Inc., Make Up for Ever LLC, RMS Beauty, Ilia Beauty, Revolution Beauty Ltd. And Morphe Cosmetics Limited.
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