Global Eye Makeup Market anticipated to cross USD 21 billion by 2025

Market overview:
The global Eye Makeup Market was worth USD 13.79 billion in 2020, and it is estimated that it will reach a valuation of USD 21.17 billion by the end of 2025 at a CAGR of 5.47% during the forecast period.

Eye makeup products are used primarily by female populations around the world to enhance their appearance. New and advanced eye makeup products include eyeliner, mascara, eye shadow, and eye pencil which are most widely used by the customers. These products are widely used in a variety of eye makeup, such as mineral, smudge-free and waterproof eye makeup.

Recent developments:
In July 2018, L'Oréal launched a Cuba-based makeup collection in collaboration with pop star “Camilla Cabello”. The collection of different shades and styles contains a wide variety of makeup products.

Market Drivers and Restrains:
The growing concern about women's appearance and the demand for new luxury eye makeup products around the world are key factors that are expected to drive the growth of the target market during the forecast period. The growth of the global cosmetic industry, the increased penetration of different types of eye makeup products and the increased awareness of beauty among the female population are key factors driving the growth of the global eye makeup market. The increasing preference for waterproof and smudge-resistant eye makeup products among female athletes is another key factor that is likely to drive the growth of the global eye makeup market during the outlook period. In addition, the awareness of smoky, rock, sexy and other types of eye makeup among the global female population is another factor supporting the growth of the world market. The global market growth is supposed to accelerate as the adoption of long-lasting eye makeup products such as eye shadow, eyeliner, mascara, and eyeliner among women for an attractive appearance increases. Furthermore, the growing personal preference for natural and organic eye makeup products is another factor that is expected to accelerate the growth of the global market. However, the presence of counterfeit eye makeup products in the market and strict government regulations on cosmetic ingredients around the world are the main factors that are expected to hamper the market growth.

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Report is segmented as:
The global eye makeup market has been segmented by product type as mascara, eyeshadow, eyeliner, and other types of products. Mascara had the largest market share in 2019 at around 35.0%. Celebrity endorsements and various product promotions are driving the demand for mascara. In addition, by distribution channel, it was classified into convenience store, supermarket/hypermarket, online retail store, specialized store and other channels. Online channel is expected to have a CAGR of 8.8% from 2020 to 2025. More than 5 billion people around the world use their smartphones, increasing the number of online shoppers.

Geographical Segmentation:
The North American market has the largest share of revenue and is expected to dominate the target market during the forecast period. This is because demand for a variety of high-end eye makeup products, such as eyeshadow, eyeliner, and mascara, is increasing among people in Canada and the United States. The Asia-Pacific market is expected to show significant growth in the global market following the European market, with the rise of elegant eye-shaped social media ads and the growing preference for natural female cosmetics in countries like India, France and the UK. The Latin American, Middle East and African markets are expected to show modest growth in terms of sales as demand for halal cosmetics increases and awareness of modern and stylish eye makeup products increases among the female population of the region.
Impact of COVID 19 on Eye Makeup Market
The eye makeup industry has seen a decline due to the Covid-19 pandemic, but the impact is not as severe as can be seen in other industries. The brand is focusing on improving its supply line in terms of strengthening e-commerce channels, as well as providing home wellness products that are well suited to this volatile business environment.

Key market players:
The main players in the market are L'Oréal S.A; Procter & Gamble Company; Avon Products Inc; Revlon Inc; Estée Lauder Companies Inc; Shiseido Company Limited; Unilever; Chanel S.A; COLORBAR COSMETICS PVT LTD and Amway.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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