Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Eye makeup products are largely used by female population globally to enhance their physical appearance. The new and advanced eye makeup products such as eye shadow, eye liner, mascara, primers, eye pencil etc. are widely available in the market. These products are largely used in various types of eye makeups such as smudge-free, mineral, and waterproof eye makeups.
Developing cosmetics industry across the globe, increasing penetration of several types of eye makeup products, and increasing beauty consciousness among female population are major factors driving growth of the eye makeup market worldwide.
Over the last few years, the speedy growth of social media platforms has offered market players the opportunity to advertise their products, which, in turn, has positively impacted market growth. Additionally, the rising demand for organic and natural make-up products is expected to offer lucrative opportunities for companies to launch eye makeup without harmful chemicals. Various products are endorsed and promoted by beauty bloggers and influencers on social media platforms such as Instagram, Twitter, and Facebook. Furthermore, customers are attracted to products due to the increasing shelf space in retail stores.
The cosmetics industry has observed a relatively sluggish growth due to the COVID-19 pandemic unlike other industries. Although optional spending has reduced, the cosmetics industry has perceived a consumer behavioural swing towards more safe and reliable products. Products which have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out in the near future. Also, big brands are also converging on refining their supply lines in terms of firming their online channel along with offering at-home cosmetic products, which are highly appropriate in this unpredictable business situation.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa. North America was a lucrative region for the eye makeup market in 2019. The factor driving the North American eye makeup market growth during the forecast period is the high demand for eye makeup products in the US and Canada. 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.
Also, 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, rigorous regulations imposed on the use of ingredients in cosmetics is a major challenge for the growth of the market in this region.
The growing trends toward bold eye mascara and eyebrow pencil with long-lasting eyelashes are expected to spur the growth prospects for the market in the region, in the coming years. Moreover, with makeup styles becoming progressively artistic and adventurous, there is scope for promoting bold and unusual brow looks, incorporating colours, glitter, and creative designs. Creating fashion-led eyebrow products, which harness popular culture are a great way to tap into such a trend. The organic eye makeup is projected to register a highest growth during the forecast period, due to the rising inclination of customers toward organic eye makeup products. The demand for waterproof eyeliner is high it does not smudge in humidity and heat conditions.
The key companies in the eye makeup market are Colorbar Cosmetics Pvt. Ltd (India), Coty INC. (United States), Estee Lauder Inc. (United States), Loreal SA (France), New Avon LLC (United States), Oriflame Cosmetics AG (Switzerland), Revlon (United States), Shiseido Company, Limited (Japan), and Unilever (United Kingdom). Product innovation and high spending on the development of digital platforms to ensure product supply are expected to remain critical success factors over the coming years. Key players are investing heavily to influence the consumer purchasing decision and increase the popularity of products in the retail landscape.
Also, the growing internet users in developing economies have changed the advertisement spending strategy of key players. For instance, in January 2019, The Estée Lauder Companies Inc. released a new makeup collection called La Dangereuse. The collection includes the Amour Amour Eyeshadow Palette with colors that can be worn in fall and summer. Additionally, in January 2018, Maybelline, an L'Oréal S.A. brand, launched the Total Temptation Collection including new mascara, eyeshadow palette, and eyebrow definer pencil. Also, 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.
The report analyses the global eye makeup market based on product type, distribution channel and geography. Various product types studied in this report are eye liner, eye shadow, mascara and others (eyebrow pencil, eyebrow enhancer, kajal, eye primer, glitter, and false eyelashes etc.). The major distribution channels of the market are hypermarket/supermarket, specialty store, convenience store, online stores and other distribution channels.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa.
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