Eye Makeup Market - Growth, Trends, and Forecasts (2023 - 2028)

The global eye makeup market is projected to register a CAGR of 5.40% during the forecast period (2022 - 2027).

The COVID-19 outbreak has had a significant impact on the eye makeup market. With the increased health awareness, people have shifted their preference toward natural and eco-friendly cosmetics. This has increased the demand for good quality products Vegan, natural, organic, clean, and waterproof products. Growing adoption of eye makeup products in order to enhance appearance, along with favorable growth of the cosmetics market and increasing demand for natural cosmetics, is driving the growth of the global eye makeup market.

Moreover, factors such as low cost, ease of use, and ease of availability are expected to support the growth of the eye makeup market in developing economies. For instance, 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. Increasing demand for halal cosmetics, such as eye, face, and lip care products in the Middle East is a growth opportunity for eye makeup manufacturers. However, stringent regulations on the use of ingredients in cosmetics are a major challenge to the market's growth in this region.

Key Market Trends

Rising Number of Active Social Media Influencers Creating Awareness

Globally, deep internet penetration contributed to consumers' awareness of facial care products. The increased number of active social media users on most social media platforms, including Instagram, Facebook, YouTube, and Twitter, drives the market. Consumers increased time on their phones has boosted their exposure to beauty content on social media, which has sustained the demand in certain beauty and personal care categories, such as facial skincare products, which mainly include eye makeup products. These platforms have become a major marketing strategy for eye makeup brands looking to reach a wide audience. Social media's influence on consumers is significant, as over a third of online shoppers in United Kingdom have purchased products after seeing them advertised on social media in the past few months. Furthermore, the trend of social media influencers showcasing their beauty regimens has been rising over the past few years. Both local and international skincare brands are turning to influencers to increase their brand awareness and reach potential consumers.

Asia-Pacific is the Fastest Growing Region

Asia-Pacific is the expected region in terms of growth in the eye makeup market due to rising social media advertising of stylish eye looks and increasing preference for natural cosmetic products among women in countries such as China and India, in these regions. The growing trends toward bold eye makeup and eyebrow pencils with long-lasting eyelashes are expected to spur the growth prospects for the region in the coming years. Moreover, with makeup styles becoming increasingly artistic and adventurous, there is scope for promoting bold and unusual brow looks, incorporating colors, glitter, and creative designs. Creating fashion-led eyebrow products which harness popular culture is a great way to tap into such a trend. There is rising demand for various luxury eye makeup products such as mascara, eyeliner, eye shadow, and other products among individuals in countries. Moreover, there's an increasing demand for waterproof eye makeup products, especially during summers. This product makeup that can withstand hot and humid weather conditions is gaining popularity among women, increasing the demand for such eyebrow products.

Competitive Landscape

The eye makeup market is expected to be highly competitive, owing to the increasing demand for personal care products among the women population. The major players operating in this market are L'Oreal S.A., New Avon LLC., Shiseido Co., Ltd., and Colorbar Cosmetics Pvt. Ltd. Some of the major developments in the market studied include increased product extensions, technological innovations, high quality, and pricing of the products manufactured. Many vendors are focusing on innovative packaging to create a wider base of customers globally. For instance, 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 the eye shadows.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support