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A16347 | Pages: 279 | Charts: 61 | Tables: 155 |
The global Eyelash Serum Market Size was valued at $752.10 million in 2020, and is projected to reach $1.3 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.
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The eyelash serum market is segmented into Ingredients, Type and Distribution Channel.
There is an increase in the number of social media users owing to rise in internet penetration. Considering this, most of key players in the eyelash serum market strategize on promoting their products and services on these social media platforms.
Growth in the beauty industry, however, has boomed in recent years, in a trend that many link to a broader generational trend of attention to physical wellbeing. Millennials are often quoted as being the main drivers behind the meteoric growth of the beauty segment. There have been many articles written on this trend, citing everything from the aging of the millennial demographic to a focus on “self-care” as a coping method against a difficult political and economic climate.
In addition, growing demand for high-quality cosmetics increased the adoption of eyelash serum. Increasing demand for technologically advanced products, owing to the inclination of end-users towards improved quality of serums, is anticipated to generate revenue opportunities in the global eyelash serum market during the forecast period. Developed and developing economies across the globe, such as China, India, the US, the UK, Japan, and Canada, are creating huge opportunities for the market players.
Expansion of sales channel is the major factor expected to contribute to the eyelash serum market growth in the near future. Online retail platform is one of the fastest growing segment in the market. Presently, many retail players manage their own web-based retail stores where customers learn more about the organization and its products. The availability of multiple options of product and their price comparison on online platforms also result in the increase in online shopping. This is beneficial to key players of the market as it eliminates the need for physical outlets or stores and also helps customers to read reviews provided by other users, and compare various stores, products as well as the price by different sellers for the particular eyelash serum d. Furthermore, as per the World Bank data, of the year 2019, North America was the leader with approximately 88.4% of the population of internet users, followed by Europe and Central Asia, accounting for around 83.9% of internet users. Some of the popular online retailers in the eyelash serum market are Amazon.com, and Flipkart.com. Besides sales channel, the product availability is rising even in convenient stores and local shops in small regions, which augments the market growth.
Segment Review
The eyelash serum market is segmented into type, ingredients, distribution channel, and region. On the basis of ingredient, the market is categorized into organic eyelash serum and conventional eyelash serum. On the basis of type, it is categorized into lash primer, prostaglandins, and peptide, On the basis of distribution channel, it is fragmented into supermarkets/hypermarkets, specialty stores, online sales channels, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, Turkey, South Africa, and rest of LAMEA).
According to the market players, major obstacles attributed to the pandemic was disruption of supply chain. Furthermore, all distribution channels were nearly shut down in the first quarter of the pandemic. However, online channels such as E.l.f. Cosmetics Inc., Grande Cosmetics LLC, JB Cosmetics Group, L'Oréal S.A., LVMH Group, Pacifica Beauty, RapidLash, RevitaLash, Shiseido Company, Limited, and Skin Research Laboratories.
[INGREDIENTSGRAPH]
By ingredients, the organic segment is the fastest growing, owing to the surge in adoption of organic skincare products among the customers, which is expected to lead to the rise in demand for organic eyelash serum market during the Eyelash Serum Market Forecast period. However, the conventional segment is anticipated to remain the largest dominating segment of the Eyelash Serum Industry, owing to high dog adoption ratio globally, which leads to high demand for eyelash serum among the customers.
[TYPEGRAPH]
By type, lash primer segment has the dominating Eyelash Serum Market Share in the year 2020. Also, peptide is likely to be the fastest growing segment with the CAGR of 6.6% during the forecast period.
[DISTRIBUTIONCHANNELGRAPH]
By distribution channel, the online sales channel is the fastest growing segment, owing to the growth of internet penetration and smart phones globally, which propels the demand for eyelash serum. However, the hypermarkets/supermarkets segment is expected to remain the largest dominating segment of the market owing to high consumption of eyelash serum.
[REGIONGRAPH]
By region, Asia-Pacific dominated the global market and is likely to be the fastest growing region during the forecast period.
Key Market Segments
Key Market Players