- Easy-to-use eye makeup products are becoming increasingly popular.
- Supermarkets and hypermarkets to remain a popular sales channel for eye makeup products.
- Eye Makeup Market is projected to be valued at $19.6 billion by 2025.
Eye Makeup Market is projected to be valued at $19.6 Billion by 2025, registering a CAGR of 6.6% from 2019 to 2025. Eye makeup products are used to enhance the appearance of the eyes. The various types of eye makeup products include eyeshadow, eyeliner, and eyebrow products.
The growth of the makeup market has significantly contributed to the growth of the Eye Makeup Market. High competition owing to the presence of several players in the market is led manufacturers to focus on product innovation and development. Manufacturers have introduced products with various labels such as organic, natural, and cruelty-free to meet consumer demand.
North America: North America is a lucrative market for eye makeup manufacturers. The regional market accounted for 35.02% of the eye makeup market share in 2018 and is projected to exhibit a moderate growth rate during the forecast period of 2019 to 2025. The expansion of the eye makeup product portfolios by key manufacturers is a significant factor driving the growth of the eye makeup market in North America. Innovation in eye makeup products with a concurrent emphasis on promotional activities to create brand awareness among consumers is expected to accelerate the regional market growth.
- US: In 2018, the US accounted for a 77.61% share of the North American eye makeup market. Technological advancements have resulted in the introduction of a wide variety of eye makeup products in a myriad of colors in the US. Moreover, the presence of key market players is driving the growth of the eye makeup market in the country. The demand for natural or organic eye makeup products is increasing over chemically derived counterparts in the US. Thus, manufacturers are introducing organic or natural-certified products to widen their customer bases.
Europe: The European eye makeup market is expected to be the largest, by value, during the forecast period. The growth of the eye makeup market size can be attributed to various factors. The presence of an established fashion and makeup industry in the major countries such as France and Italy have led to wide promotional activities. These promotional activities by the established manufacturers have escalated the sales of various types of eye makeup products in European countries. The development of eye makeup products by manufacturers is expected to drive market growth. Presently, manufacturers are focusing on the use of novel ingredients that are organic or natural owing to the rising demand for organic eye makeup products. Key players in the market are focused on increasing their production capacity to meet the high demand. Moreover, manufacturers are emphasizing collaborations with e-commerce companies to enhance their overall sales.
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- France: In 2018, the country-level market accounted for the largest share of the market in Europe due to the presence of an established cosmetics industry. The introduction of new and innovative eye makeup products that are suitable for modern lifestyle is also expected to boost the growth of the market.
- UK: In 2018, the UK accounted for the second-largest share of the European eye makeup products market. The growth can be attributed to the proliferation of online platforms to enhance the shopping experience and increasing demand for mineral eye makeup products in the country.
Asia-Pacific: The eye makeup market in Asia-Pacific is projected to be the fastest-growing during the review period. The market is expected to register a CAGR of approximately 7.0% from 2019 to 2025. Factors such as increasing per capita disposable income and changing lifestyles are leading to increased consumer spending on makeup products and are likely to enhance the sales of eye makeup products in the region.
- China: The rise of the middle-class population and increasing number of working women are expected to fuel the growth of the Chinese eye makeup market. Manufacturers are introducing new products to capture a greater market share in the region. The market in China is highly fragmented owing to the presence of local and unorganized players.
- India: The demand for eye makeup is growing in the country due to social media influence. Consumer awareness about various products is increasing along with a willingness to experiment. The rising popularity of eye makeup can also be attributed to the proliferation of e-commerce platforms such as Amazon, Flipkart, Nykaa, and Myntra. The rise of e-commerce channels has helped market players increase their presence in small cities and towns and reach millions of consumers. Moreover, these sites offer easy availability, diverse product options, convenience in selection, home delivery, and relatively low prices, which is expected to fuel market growth.
Rest of the World: Rising per capita disposable income and an increasing inclination to spend on makeup are projected to drive the growth of the eye makeup market in the rest of the world during the forecast period. The rising middle-income population group in South America, the Middle East, and Africa is further propelling the growth of the cosmetics market, which, in turn, is augmenting the growth of the market.