Sales of the eyeshadow market are projected to surge at a robust 6.8% CAGR during the forecast period (2021-2031). As per FMI, the market is expected to reach a valuation of US$ 2.7 Bn in 2021.
Driven by rising awareness regarding skincare and increasing penetration of social media & beauty bloggers, the market will register impressive growth across the globe. Also, the emergence of online sales channels and preference for premium quality beauty products will increase sales through 2031.
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The unprecedented outbreak of COVID-19 dampened the sales owing to the disruption in social activities and supply chain across the globe. However, with expedited vaccination drives and resumption of social gatherings, sales of the eye shadow market are expected to witness an upward trend.
Additionally, growing preference for natural and organic cosmetic products among consumers has compelled the key players to increase research activities necessitating the demand. However, as natural and organic products do not have an extended shelf life as conventional beauty products, sales might get affected slightly.
Subsequently, key players are increasingly participating in a brand promotion through social media platforms and other digital marketing strategies. Also, the advent of online sales channels and reliance on digital marketing promotion will increase the sales of eyeshadow.
As per FMI, sales of the eye shadow market are expected to increase by 2x as demand for premium quality cosmetic products surges.
“Leading beauty brands are actively participating in social media mass promotion and collaborating with beauty bloggers to increase their brand presence and reach a global audience. This is expected to generate incremental growth opportunities for key players over the coming years,” says the FMI analyst.
Key Takeaways from Eye Shadow Market Survey
- Sales of eye shadow in powder form will account for over 66.9% of the total market share in 2021
- In terms of application, the personal application segment will exhibit the highest growth at 7.9% CAGR during the forecast period
- The professional application will account for the largest market share in the eye shadow market
- Based on price range, while the mass category will dominate the segment will the largest share of 61.5%, the premium segment will register stellar growth at 7.7% CAGR through 2031
- Sales through online retailers are set to surge at an impressive 8.8% CAGR during the assessment period
- The U.S. eye shadow market will account for over 79.3% market share across North America
- Rising penetration of social media and increasing awareness regarding skincare across India will result in high sales of eyeshadow during the forecast period
- The U.K. eyeshadow market will register positive growth at 5.1% CAGR through 2021 & beyond
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Key Drivers
- Increasing penetration of social media and brand promotion through online sales channel will create immense scope for key players to generate lucrative revenues, boosting the market
- Growing awareness for skin coupled with rising preference for premium & high-quality beauty products will provide impetus to the growth in the market
Key Restraints
- Stringent regulatory frameworks pertaining to the adoption of certain pigments in the beauty industry imposed by the U.S. Food and Drug Administration (FDA) might restrict the growth in the market
- Availability of ‘do-it-yourself’ makeup tutorials and alternative products such as blush, lipstick will negatively impact the market.
Competitive Landscape
The high presence of beauty brands in the industry has led to intense competition in the market. Key players are collaborating with the online sales channels and local vendors to meet the unceasing demand for natural beauty products and gain a competitive edge.
Leading players are focusing on product development and new launches to retain their dominance in the industry. Key companies are actively engaging in promotional activities through social media to improve their brand presence.
For instance,
- In August 2021, leading beauty brand, EuropeGirl announced the launch of the ’40 color cool tone’ eyeshadow palette. The new design is a mix of matte, shimmery, and nude shades which allows the consumers to experiment with different colors and shades.
- In March 2021, Sephora Collection unveiled its new limited-edition collection of makeup in collaboration with the American Fashion House Coach. The seven limited-edition collections comprises, ‘Coach x Sephora Collection Rexy Eyeshadow Palette’, ‘Coach x Sephora Collection Sharky Eyeshadow Palette’, ‘Coach x Sephora Collection Uni Face Palette’, ‘Coach x Sephora Collection Tea Rose Brush Set’, ‘Coach x Sephora Collection Tea Rose Lipgloss Set’ and eye mask & nail set. Each collection features interpretations of Coach’s iconic motifs and mascots and bring to life the house’s playful approach to its American heritage.
- In December 2020, MAC launched a new underground limited-edition of glitter eyeshadow palette specifically for New Year made up of organic and plant-based ingredients.
Some of the leading players operating in the eye shadow market profiled by FMI include:
- L’Oréal S.A.
- LVMH (Moët Hennessy –Louis Vuitton)
- Estee Lauder Companies Inc.
- Revlon, Inc.
- Shiseido Co, Ltd.
- Chanel S.A.
- Coty, Inc.
- Amway Corporation
- Kao Corporation
- Aveda Corporation
- Clarins Group
- Oriflame Holdings AG
- Korres SA
- Arbonne International, LLC.
- Others.
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More Insights on the Global Eye Shadow Market
Future Market Insights, in its new offering, presents an in-depth analysis of the global eye shadow market. The study divulges essential insights on the eye shadow market for the historic period (2016-2020) and for the forecast year (2021-2031) as well. In order to gain compelling insights on the current growth drivers, trends, and opportunities, the market is segmented on the basis of:
Product:
- Powder Form
- Liquid Form
- Pencil Form
- Others
Application:
- Personal Application
- Professional Application
By Price Range
- Mass (Below US$ 25)
- Premium (Above US$ 25)
By Sales Channel
- Hypermarkets/Supermarkets
- Specialty Stores
- Multi-Brand Stores
- Online Retailers
- Independent Departmental Stores
- Other Sales Channel
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)