Eye Makeup Market

Eye Makeup Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis,
Different types of eye makeup products such as mascara, eye shadow, eye liner,
and pencils are manufactured in variety of shades and grades, which are used to
enhance the appearance of the eye and to accentuate the beauty of the eye.
Growing demand for eye makeup products among working women population is a
major factors driving the market growth.
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Furthermore, growing e-Commerce industry in the beauty and personal care
segment is further propelling growth of this market. For instance, L’oreal a leading
player in the cosmetics market has an 11% share of selective cosmetics market via
E-commerce. Leading online stores such as Amazon, provides consumers a wide
range of branded products such as mascaras, eye liners, and others at lower prices
and discounts with easy accessibility. Additionally, increasing penetration of social
media such as Facebook, Instagram, Twitter, and other fashion blogs is further
creating awareness about the latest makeup trends, which is further propelling
growth of the market. For instance, according to the Malaysian export authorities,
Malaysia has a population of 31 million, of which 22 million are internet users and out
of which 68% are online shoppers. Thus, online shopping segment in the eye
makeup market is expected to gain high traction over the forecast period.
Market Dynamics:
Factors such as rapid adoption of eye makeup products in order to enhance
appearance, favorable growth of cosmetics market with 35% share in Asia Pacific
and 24% share in Europe coupled with increasing demand for natural cosmetics are
driving growth of the global eye makeup market. Moreover, increasing number of
working women globally is creating a conducive environment for growth of the
market over the forecast period. According to U.S. Department of Labor Blog, 74.6
million women are in civilian labor force and over 47% of the U.S. workers were
women in 2017.
However, stringent regulations imposed on use of cosmetics ingredients by
government authorities such as FDA, EU is a major restraint for the market growth.
For instance, EU Commission regulation no. 1223/2009 is the main European
legislation governing cosmetics products in Europe.
Increasing new product launches and product innovation by key players is expected
to another factor supporting growth of the market.
Market Outlook:
Among product types, mascara segment accounted for highest revenue share in the
market in 2016 and is projected to retain its dominant position throughout the
forecast period. Factors such as low cost, ease of use, and ease of availability are
expected to aid in growth of this segment. For instance, in January, 2017, companies
such as L’Oreal India and Hindustan Unilever Ltd, invested significantly in eye
makeup by introducing more easy-to-use product formats in kohl, eyeliners, and
mascara with smaller and affordable packaging for eye shadows.
North America was the dominant region, in terms of revenue share, in the global eye
makeup market in 2016. This is owing to presence of leading players such as
Procter & Gamble, Corporation, Avon Products, Inc., Revlon, Inc., and established
supply chain, in the region. In 2016, according to survey report by L’oreal, the
average spending of a consumer in the U.S. on eye cosmetics from 19 to 24 years of
age is US$ 49 and US$ 28 by consumers of 14 to 18 years. This is major factor for
growth of the market in the region.
Asia Pacific is projected to be the fastest growing region in the global market over
the forecast period. High growth of personal care industry in emerging economies
such as China and India are creating a conducive environment for growth of the eye
makeup market in Asia Pacific. According to India Brand Equity Foundation, in India,
personal care market is expected to reach to US$ 20 Billion by 2025.
Leading Players:
Key players operating in global eye makeup market include Procter & Gamble,
Corporation, L'Oréal S.A., Shiseido Company, Limited, Avon Products, Inc., LVMH,
Revlon, Inc., Chanel S.A., and The Estee Lauder Companies Inc.
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Eye Makeup Market, report categorizes global market by Product Type, Application, Distribution Channel, End User and Geography. It provides information about - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–2025