Market Dynamics
Global COVID-19 Pandemic Impact on Mascara Market is estimated to cross USD 10.306.16 million at a CAGR of 6.70% from 2020 to 2023 (forecast period). The report offers a detailed summary of the current scenario, the economic condition, and COVID-19 analysis of the overall market.
Mascara is one of the most widely used eye cosmetics. In modern mascara formulations, the aim of mascara is to darken, lengthen and thicken the eyelashes. For decades, formulators have been working to achieve these qualities while attempting to remove some of the issues associated with mascara, such as smudging, difficult removal, clumping, etc. Mascaras must be carefully formulated so that it can allow smooth and even application without smudging.
The growing beauty industry around the globe and increasing consciousness of beauty among individuals are some of the main factors estimated to boost the growth of the global mascara market over the forecast period. In addition, growing awareness of various types of mascara, such as lengthening, volumizing, and curling across the globe, is a significant driver of the growth of the target market. Another factor expected to fuel the growth of the market is the rise in demand for waterproof mascara across the globe due to increasing awareness of different types of popular eye makeup around the world. In addition, raising awareness of the various benefits of waterproof mascara, such as cost-effective, convenient, long-lasting, easy-to-remove mascara, and others among women is expected to fuel the growth of the market over the forecast period.
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In addition, rising market penetration of different mascara colors, such as blue, pink, purple, green, red, and others, coupled with well-known brands and high quality, is expected to grow the global market in the coming years. However, a factor expected to hinder the growth of the global mascara market is the presence of toxic substances in waterproof mascara, which is harmful to eye health.
Key Players
Some of the leading participants identified by MRFR in the Global Mascara Market are LORÉAL SA (France), The Estée Lauder Companies Inc. (U.S.), LVMH Moët Hennessy Louis Vuitton SE (France), Coty, Inc, (U.S.), Avon Products, Inc. (U.S.), Shiseido Co., Ltd (Japan), Revlon, Inc. (U.S.)
Market Segmentation
Global COVID-19 Pandemic Impact on Mascara Market has been segmented into product type and distribution channels.
Based on the product type, the Global COVID-19 Pandemic Impact on Mascara Market has been segmented into volume mascara and regular mascara. The volume mascara will display a growth rate of 6.80% By 2023, the mascara size is projected to reach more than USD 4,000 million worldwide. The steady growth of mascara products to enhance the overall appearance of the eye, along with its application to make lashes thick, has been shown to impact its market share growth positively. Product promotions and celebrity endorsements also have a positive impact on the growth of mascara volumizing. By 2023, regular mascara is expected to dominate the market compared to waterproof mascara based on easy application and removal of the product. In addition, increasing awareness of the harmful chemicals present in the waterproof range is identified as a major setback for the product market. Regular mascara is expected to rise by 6.59% during the forecast period.
Based on the distribution channel, the global market for mascara has been segmented into store-based and non-store-based. The sales of mascara through a store-based system are likely to dominate the market based on the readily available preferred product, which achieves consumer satisfaction and “one-stop shopping experience.” In addition, store-based retail is projected to dominate the mascara market, with a total share of more than 50%. However, based on clients’ fast adoption of technological applications regularly, the sales of mascara through a non-store-based channel will experience a greater growth rate of 6.85% over the corresponding period.
Regional Analysis
By region, the global market for mascara has been segmented into North America, Asia Pacific, Europe, the rest of the world.
Europe will continue to dominate the mascara industry with more than 30% of its industry share and is expected to hit a market value of more than USD 3,000 million with a CAGR of 6.61% by 2023.
The Asia Pacific will see a strong growth rate of 7.01% over the 2020-2023 forecast period. The availability of a variety of items in the mascara range, together with easy availability across continents, has increased the selling of mascara globally. Raising consumer awareness of beauty has played a significant role in the growth of the global mascara industry over the last few years.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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