Eye Shadow Market Research, 2031
The global eye shadow market size was valued at $2.8 billion in 2021, and is projected to reach $5.1 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
Eye shadow is used to give the eyes color. Eye shadows come in a variety of forms, including liquid, powder, cream, glitter, and gel. Easy-to-use eye shadow is widely available, which has influenced sales and expanded the market.
The attitudes of consumers are shifting in favor of natural items free from chemicals. Additionally, millennials and members of the younger generation want items that are cruelty-free, sustainable, and come in attractive packaging. When making purchases, female buyers prioritize product quality, quantity, and brand recognition. Additionally, makeup artists and beauty bloggers love using eye shadow palettes with a variety of color colors to create tutorials and make special applications.
The widespread use of the internet helped customers become more aware of eye care products. The market is driven by the rise in the number of social media users who are active on the majority of social media platforms, including Instagram, Facebook, YouTube, and Twitter. As people are spending more time on their phones, they are being exposed to more beauty-related information on social media, which has helped to keep demand for some beauty and personal care categories, such as facial skincare products, which mostly contain eye shadow products, strong. For eye cosmetic businesses aiming to reach a large audience, these platforms have emerged as a key marketing tactic. Assuming that a third of UK internet shoppers made a purchase after seeing a product advertised on social media in the previous few months, social media has a big impact on customers. In addition, over the past few years, it has been increasingly popular for social media influencers to share their beauty routines. Influencers are being used by both national and multinational skincare firms to raise customer awareness of their products.
But during the summer, especially, there is a greater need for waterproof eye shadow. Women are becoming more and more enamored with this beauty product, which makes such products more necessary because it can withstand hot, humid weather. However, the coronavirus pandemic severely impacted every industry, causing a worldwide lockdown and the closure of all activities. This had a negative impact on the market for eye shadow because it decreased production and distribution. However, as soon as things return to normal, it is anticipated that the market will resume its upward trend.
The eye shadow market is analyzed based on form, price range, sales channel, and region. By form, the market is divided into liquid, powder, and others. By price range, the market is divided into premium and mass. By sales channel, it is classified into online and offline. Further, the offline segment is bifurcated into supermarkets & hypermarkets, mass merchandisers, departmental stores, mono-brand stores, and specialty stores. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The powder segment, as per form, dominated the global market in 2021 and is anticipated to maintain its dominance throughout the forecast period. Due to their ease of mixing, powder eye shadows have gained more popularity than other kinds of eye shadows. On the other hand, powder eye shadows are widely utilized because they are especially suggested for beginners. Due to these characteristics, powder eye shadows are predicted to perform better than other types of eye shadow during the forecast period.
The premium segment is the fastest-growing segment in the global market. The premium segment is anticipated to experience significant growth over the next several years as eye shadow market demand that is secure, of high quality, and have a decent finish develops. Furthermore, the premium category, which is growing at the fastest rate in the market, is projected to benefit from consumers' growing demand for natural and organic eyeshadows.
The offline segment exhibits the fastest eye shadow market growth in the global market. Supermarkets and hypermarkets, mass merchandisers, department stores, mono-brand stores, and specialty stores constitute up the remaining part of this market category. Consumers can access a wide range of products through offline channels of distribution, which also improve product visibility.
Region-wise, Asia-Pacific dominated the market with the largest eye shadow market share during the eye shadow market forecast period. Revenue growth in this region is anticipated to be driven by rising disposable income and significant population expansion in Asia-Pacific nations, particularly China, India, and Japan. The market is seeing an increase in demand for cosmetics like eye-shadow due to the development of products using organic ingredients. A larger global customer base has been attracted by manufacturers due to the expanding e-commerce sector.
The global eye shadow market is expected to increase as a result of the expanding cosmetics sector, rising use of various types of eye makeup products, and rising beauty consciousness among female consumers. Additionally, rising global demand for novel and innovative eye makeup products as well as rising physical appearance concerns among women are important aspects anticipated to propel the target market's expansion during the eye shadow market forecast period. Another factor that is anticipated to fuel market growth is people's growing desire for natural and organic eye shadow products. The global market is anticipated to increase as women increasingly use long-lasting eye makeup products like an eye shadow for a desirable physical appearance.
However, the availability of counterfeit eye makeup products on the market and strict government restrictions regarding cosmetics ingredients around the world are important factors anticipated to restrain the growth of the global market to some extent.
Cosmetics are currently a necessary component of the daily lifestyle of people. Additionally, one of the key elements influencing the use of eye shadow in the global market is the rise in consciousness toward both one's inner and outer attractiveness. In addition, males are increasingly incorporating cosmetics into their daily routines, which is fueling growth in the global market. The global eye shadow market has expanded as a result of this change in lifestyle.
Manufacturers are revising their marketing and branding plans for their products in order to boost sales in diverse nations. Manufacturing firms have implemented creative techniques to boost sales of their cosmetics, such as the introduction of new products with natural ingredients and conventional cosmetic products packaged beautifully. Due to the fact that cosmetics have become an essential part of people's life, customers, particularly women, prefer to use cosmetics that are portable and simple to use while traveling or attending events like parties or meetings. In addition, using natural substances to make cosmetics products that don't harm the eyes is a common tactic used by producers to draw in more customers. Additionally, this contributes to the growth of revenue for businesses engaged in this industry. The global market is growing as a result of the manufacturers' collective use of these strategies.
Particularly in emerging economies, the rate of growth in the world's per capita income has been rapid in recent years. In many developing and developed nations, rising rates of female labor force participation, middle-class consumer development, and urbanization have promoted the adoption of convenience-oriented lifestyles, making eye shadow more appealing. As compared to wealthy countries, developing countries per capita income is predicted to rise significantly during the next few years, according to forecasts from The World Bank. For the expansion of the market, this has significant implications.
The natural eye shadow industry is expanding due to eye care products made with natural substances including aloe vera, tea extract, lime, black sugar, and similar ones. The eye shadow market has already developed in nations including the U.S., Canada, and Europe; as a result, the market there is expanding steadily. Additionally, to boost sales, cosmetics producers are taking advantage of consumers' growing interest in medicated cosmetics by investing in the production of goods with natural components. An additional important reason driving the expansion of natural eye shadow is customers' shifting behavior toward healthier lives. In turn, this supports the expansion of the global eye shadow market.
The major players analyzed for the eye shadow industry are Amway Corporation, Arbonne International, Aveda, Avon, Chanel, Clarins Group, Coty Inc., Estee Lauder Companies Inc., Kao Corporation, Korres SA, L’Oreal SA, LVMH, Oriflame Cosmetics, Revlon, and Shiseido. Key players operating in the market have adopted product launches, business expansion, and mergers & acquisitions as key strategies to expand their eye shadow market share, increase profitability, and remain competitive in the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the eye shadow market size, segments, current trends, estimations, and dynamics of the eye shadow market analysis from 2021 to 2031 to identify the prevailing eye shadow market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the eye shadow market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global eye shadow market trends, key players, market segments, application areas, and market growth strategies.
Eye Shadow Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 5.1 billion |
 Growth Rate | CAGR of 6.3% |
 Forecast period | 2021 - 2031 |
 Report Pages | 250 |
 By Sales Channel |
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 By Form |
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 By Price Range |
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 By Region |
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 Key Market Players | Kao Corp., Avon Products, Inc., Aveda, AMWAY CORPORATION, LOUIS VUITTON (LVMH), Estee Lauder Companies Inc., Korres SA, L'Oreal, Coty Inc, Arbonne International LLC, Shiseido Co Ltd, clarins group, Revlon Inc., Oriflame Cosmetics, Chanel |
Analyst Review
The perspectives of the leading CXOs in the eye shadow industry are presented in this section. The increased awareness and concern regarding eye care among consumers in the nation is anticipated to fuel market growth. The past few years have seen a dramatic rise in the importance of beauty. The beauty industry is currently more concerned with meeting the requirements of informed beauty consumers as it rides a wave of dynamic change. Millennials are more knowledgeable and aware of the products they use and buy nowadays. Premium brands and components for cosmetics that produce quick results are rapidly capturing the interest of people all around the world. As a result, their preference for safe and protective cosmetics is expected to have an impact on and assist changes in fashion in the eyeshadow industry.
The CXOs further added that currently on the market, beauty brands place more emphasis on "above-the-line" advertising strategies such celebrity endorsements, media marketing, and changing customer perception through in-store beauty advisors and experts. The demand for eye shadows is anticipated to increase in the next years as a result of these beauty firms' active participation. The eye shadow market is dominated by several top brands, creating fierce competition. The market is currently seeing the growth of private label, prestige, and independent brands, which is causing several well-established companies to gradually lose their market share. Therefore, market players are concentrating on improving product development in order to fight intense competition.
The global eye shadow market size was valued at $2,757.2 million in 2021, and is projected to reach $5,061.4 million by 2031, registering a CAGR of 6.3% from 2022 to 2031.
The forecast period in the eye shadow market report is 2022 to 2031.
The base year calculated in the eye shadow market report is 2021.
The top companies analyzed for global eye shadow market report are Amway Corporation, Arbonne International, Aveda, Avon, Chanel, Clarins Group, Coty Inc., Estee Lauder Companies Inc., Kao Corporation, Korres SA, L’Oreal SA, LVMH, Oriflame Cosmetics, Revlon, and Shiseido.
The powder segment is the most influential segment in the eye shadow market report.
Asia-Pacific holds the maximum market share of the eye shadow market.
The company profile has been selected on the basis of key developments such as partnership, product launch, merger and acquisition.
The market value of the eye shadow market in 2021 was $2,757.2 million.
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