In 2018, the global eye makeup market got estimated at USD 14.52 billion, with a CAGR of 5.7 percent predicted during the forecasted year. The global demand for this industry is get driven by women’s growing awareness of their physical appearance. Furthermore, people in economically developing countries such as India, Brazil, China, and Indonesia have more discretionary cash, allowing them to spend on their physical beauty.
The expanding tendency of advertisements on social media has had a favorable impact on industry growth in recent years. Through social media sites including YouTube, Twitter, Instagram, Facebook, beauty blogs, and Pinterest, the key players have adopted a celebrity endorsement strategy. This technique allows market participants to communicate directly with clients and learn about their needs. “Glitter eye” makeup and “smoky eyes” are the top Google for eye cosmetics in 2018.
The expanding female population is a primary factor driving this market’s expansion. The rise of the female working class is fueling the growth of the eye cosmetics industry. The progress of eye makeup products gets also fomented by women’s financial independence. Cosmetic items are likely to gain traction during the projection period, thanks to the quickly developing formal organized and corporate sectors and increased beauty consciousness.
The market for natural cosmetics gets predicted to grow as people become more conscious of organic and natural products by rising health concerns among animals and humans. L’Oréal purchased Logocos Naturkosmetik AG, a German cosmetics company, in 2018. Sante and Logona are two of the company’s several brand names.
In 2018, the mascara sector had the best market revenue share (35.0%) among product categories. Product promotions and a spectrum of celebrity endorsements are responsible for the revenue share. Furthermore, mascara improved the whole eye look at a low cost. Because of its ease of removal and application, waterproof mascara is likely to drive demand for this sector even higher.
From 2015 to 2025, the shadow market gets predicted to increase at a CAGR of more than 6%. The section is likely to be driven by shadows such as liquid shadow, pencil shadow, mousse shadow, and powder shadows.
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