Eye Makeup Marke- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–2025
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.
Moreover, increasing marketing activities and advertisements by leading market players such as L’Oreal, Unilever, and others is expected to be another major factor for growth of the market. For instance, in 2017, to celebrate the success of its brand, Voluminous Original Mascara by L’Oreal, it launched a campaign called the, The Original, featuring eleven women and focusing on unique perspective on original style.
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. According to this regulation, a person responsible for placing cosmetic products in European market should keep Product Information File (PIF) and the product information needs to be updated regularly.
Increasing new product launches and product innovation by key players is expected to another factor supporting growth of the market. For instance, in 2017, EYEKO launched a multipurpose waterproof eyeliner that claims to stay under extreme sport conditions. Additionally, it comes with built-in brush and sharpener to ensure that the liner is always on point. Similarly, Maybelline also launched a new Total Temptation mascara with coconut oil.
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. However, allergic side effects such as eye irritation associated with extensive use of mascara may hamper growth of the segment.
Among applications, mineral makeup segment is projected to gain major traction in the near future. Multiple advantages associated with applying mineral makeup such as better coverage, suitability for all skin types, and better protection against sun rays are projected to fuel demand for mineral eye makeup products.
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. Moreover, over 62% of young consumers in big cities such as Mumbai, Delhi and Bengaluru prefer to buy beauty and grooming products online, whereas, 45% of consumers tend to buy cosmetic, apparel items from any shop of their convenience rather than a single shop.
Increasing demand for halal cosmetics such as eye, face & lip care products in Middle East is a growth opportunity of eye makeup manufacturers. Amara Cosmetics, in 2016, introduced a new eye makeup halal product, press eye shadow, which is manufactured without the use of any alcohol and animal ingredients. However, stringent regulations imposed on use of ingredients in cosmetics is a major challenge for growth of the market in this region. For instance, in 2016, Gulf Cooperation Council Standardization Organization (GSO) replaced old labelling cosmetics & personal care product standards (GSO 1943/2009) by new standards (GSO 1943/2016). This new standards implies new packaging standards such as declaration of nano-particles, name of cosmetic products in Arabic language and amendment of the annexes according to EU 1223/2009.
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.
Key players are focusing on merger and acquisition strategy, in order to sustain its position in the market and enhance its product offerings. For instance, in December 2016, The Estee Lauder Companies Inc. acquired Too Faced Cosmetics, LLC, which offers cosmetics products for eye, face, and lip care. Such activities by leading players are projected to have positive impact on growth of the market over the forecast period.
For More Information:
https://www.coherentmarketinsights.com/ongoing-insight/eye-makeup-market-1465
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Request For Sample Copy of this Research Report :
https://www.coherentmarketinsights.com/insight/request-sample/1465
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.
Moreover, increasing marketing activities and advertisements by leading market players such as L’Oreal, Unilever, and others is expected to be another major factor for growth of the market. For instance, in 2017, to celebrate the success of its brand, Voluminous Original Mascara by L’Oreal, it launched a campaign called the, The Original, featuring eleven women and focusing on unique perspective on original style.
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. According to this regulation, a person responsible for placing cosmetic products in European market should keep Product Information File (PIF) and the product information needs to be updated regularly.
Increasing new product launches and product innovation by key players is expected to another factor supporting growth of the market. For instance, in 2017, EYEKO launched a multipurpose waterproof eyeliner that claims to stay under extreme sport conditions. Additionally, it comes with built-in brush and sharpener to ensure that the liner is always on point. Similarly, Maybelline also launched a new Total Temptation mascara with coconut oil.
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. However, allergic side effects such as eye irritation associated with extensive use of mascara may hamper growth of the segment.
Among applications, mineral makeup segment is projected to gain major traction in the near future. Multiple advantages associated with applying mineral makeup such as better coverage, suitability for all skin types, and better protection against sun rays are projected to fuel demand for mineral eye makeup products.
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. Moreover, over 62% of young consumers in big cities such as Mumbai, Delhi and Bengaluru prefer to buy beauty and grooming products online, whereas, 45% of consumers tend to buy cosmetic, apparel items from any shop of their convenience rather than a single shop.
Increasing demand for halal cosmetics such as eye, face & lip care products in Middle East is a growth opportunity of eye makeup manufacturers. Amara Cosmetics, in 2016, introduced a new eye makeup halal product, press eye shadow, which is manufactured without the use of any alcohol and animal ingredients. However, stringent regulations imposed on use of ingredients in cosmetics is a major challenge for growth of the market in this region. For instance, in 2016, Gulf Cooperation Council Standardization Organization (GSO) replaced old labelling cosmetics & personal care product standards (GSO 1943/2009) by new standards (GSO 1943/2016). This new standards implies new packaging standards such as declaration of nano-particles, name of cosmetic products in Arabic language and amendment of the annexes according to EU 1223/2009.
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.
Key players are focusing on merger and acquisition strategy, in order to sustain its position in the market and enhance its product offerings. For instance, in December 2016, The Estee Lauder Companies Inc. acquired Too Faced Cosmetics, LLC, which offers cosmetics products for eye, face, and lip care. Such activities by leading players are projected to have positive impact on growth of the market over the forecast period.
For More Information:
https://www.coherentmarketinsights.com/ongoing-insight/eye-makeup-market-1465
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com