Eye Makeup Market Size, Share & Trends Analysis Report By Product (Mascara, Eye Shadow, Eye Liner), By Source (Organic, Conventional), By Distribution Channel (Online and Offline), By Region, And Segment Forecasts, 2024 - 2030

Eye Makeup Market Size & Trends

The global eye makeup market size was valued at USD 18.2 billion in 2023 and is anticipated to grow at a CAGR of 5.7% during 2024 to 2030. Increasing awareness about physical appearance and grooming trends are driving the market. Additionally, young, working population in developing countries such as China, India with increased disposable income prefer using cosmetic products for beauty & personal care, further expanding the market. The rapidly growing corporate sector or the formal organized sector has fueled the demand for cosmetics among female employees due to the rising beauty consciousness.  

Furthermore, growing influence of social media has favored the market growth significantly. Several young consumers tend to check the product quality and feedbacks from the social medial apps such as Instagram, YouTube, Facebook and online blogs on beauty care. Manufacturers have strategically adopted these digital platforms as marketing tools to communicate the product with potential consumers directly. Companies can demonstrate advantages and best ways to use products through social media influencers and celebrity campaigns, which ultimately drive the product demand. In 2023, “doe eye” and “pastel eyeshadow” were among the most-searched eye makeup trends according to Revlon India.

Eye makeup products are majorly used by women consumers, and the market has significantly surged in recent years with growing population of working women. Financial independence and professional grooming standards have been boosting the demand of makeup products.

Moreover, as chemical based cosmetic products exhibit several side effects, consumers are preferring natural and organic products which are ecofriendly and safe to use. Rising awareness about environment and growing popularity of vegan cosmetics is anticipated to foster the market of natural cosmetics in coming years. In 2022, Vellvetter Lifestyle Pvt Ltd, acquired a natural cosmetics brand, ENN Beauty.

Product Insights

Mascara held the largest market share of 34.9% in terms of revenue in 2023. It is commonly used to enhance the appearance of eyes by making eyelashes look thicker, dark and wider in low costs and without any side effects. Mascaras are convenient to apply and remove compared to the other alternative of eyelash enhancement. Also, modifications such as waterproof mascaras are gaining significant popularity due to their user friendliness. Aggressive promotions and celebrity endorsements are driving the segment’s growth.

The eye shadow segment emerged as the fastest growing segment with a CAGR of 6.2% over the forecast period. These products allow users to wear unique and unconventional eye makeup and expected to gain popularity among consumers who like variations in eye colors.

Source Insights

Eye makeup products from conventional sources dominated the market and accounted for 64.5% of the revenue share in 2023. Quick and long lasting experience are the important factors supporting the dominance of these products. The synthetic formulae in conventional eye makeup products cater a uniform and clean appearance, eventually majority of consumers prefer these products in their makeup.

Organic sources are expected to grow at the fastest CAGR of 6.5% over the forecast period. Increasing awareness about harmful side effects of chemical based cosmetics on skin & environment and animal cruelty involved in the process are expected to augment the market growth in coming years. Natural cosmetics are ecofriendly, not tested on any animal and offer a natural touch to the appearance.

Distribution Channel Insights

The offline segment led the market with 85.6% of the global revenue share in 2023. This segment includes supermarkets and hypermarkets, cosmetics shops, drug stores, brand outlets, mom and pop stores, and direct selling. In 2023, Amway was considered as one of the largest direct-selling channels for personal care products in the world. Other than Amway; Oriflamme, NuSkin, and Mary Kay were the major direct selling beauty brands. The offline purchasing enables consumers to screen the products physically and discuss with the sales executives.

The online channel segment is anticipated to register the fastest CAGR of 8.3% over the forecast period. Penetration of smartphones and internet across the world even in rural areas has exponentially increased online sales. According to Oracle, around 2.64 billion people purchased goods or services online in 2023.  Availability of various branded beauty products, doorstep delivery and prompt post sale services are the features consumers are looking out for.

Regional Insights

North America held a sizable market share 23.9% in terms of revenue in 2023. The dynamically changing makeup trends in the region are driving the market. Consumer behavior is inclined to try latest trends in eye makeup ultimately demand of mascara, liner, brow, and shadow products has witnessed a significant growth. Also, large number of salons are operated in the region and are boosting the eye makeup market further.

U.S. Eye Makeup Market Trends

The presence of working women who are extremely aware about the skin care and physical appearance is the key factor impacting the U.S. market. Additionally, numerous beauty care companies offering a wide array of cosmetics is driving the regional market. According to a 2023 report by BG Falcon Media, around 74% of women in U.S. wear makeup, eye shadow and eyeliner were among the top 5 products used by them.

Europe Eye Makeup Market Trends

Europe dominated the regional market by capturing the largest revenue share of 34.8% in 2023. Presence of fashion hubs such as France, Germany, U.K., Italy, Spain, and Poland are the key contributors in the regional growth. Key players in the cosmetics industry have invested in the region resulting in enhanced research facilities and innovative products. In recent years, consumers are preferring natural products over synthetic products, with the growing consciousness about side effects of chemical based products.

Asia Pacific Eye Makeup Market Trends

Asia Pacific is projected to expand at the fastest CAGR of 8.3% from 2024 to 2030. The region includes prominent countries such as China, India, South Korea, Malaysia and Japan. Growing middle class population and presence of women employees in various industries coupled with fashion consciousness are expected to raise the demand of this market. China has displayed a prominent surge in eye makeup market owing to the young population paying attention to the trends in beauty care.

Key Eye Makeup Company Insights

Some of the key companies in the eye makeup market include L’Oréal S.A., Coty Inc., Shiseido Company, Limited, The Estée Lauder Companies Inc., Natura & Co and others. These companies are adopting digital marketing strategies, celebrity endorsements and collaborations to capture the potential customer base.

• L'Oréal S.A offers a wide range of eye makeup products such as mascara, eyeliner, eyebrow kits, eye pencils, and eyeshadows. The products are available in different finishes and are easy to apply, even for beginners. Its objective is to offer a sophisticated look through a variety of products.

Recent Developments

• In June 2023, Kay Beauty announced the launch of 3 new products including, a Brow Tattoo Liner, a Microblading Brow Pen and 24-Hour Colored Matte Kajal (4 shades).

• In May 2023, Nykaa announced the launch of 4-in-1 Quad Eyeshadow Palette. It is a pigmented formula and ensures colors are long lasting and vibrant.

Eye makeup Market Report Scope

Global Eye Makeup Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2030. For this study, Grand View Research has segmented the global eye makeup market report based on product, source, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Mascara

  • Eye Shadow

  • Eye Liner

  • Eye Pencil

  • Eye Brow

  • Others

• Source Outlook (Revenue, USD Million, 2018 - 2030)

  • Organic

  • Conventional

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia & New Zealand

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa