Cosmetic Pencil & Pen Market - Key Research Findings
- The global cosmetic pencil & pen market size was valued at ~ US$ 2 Bn in 2018.
- The cosmetic pencil & pen market is expected to grow at a CAGR of ~ 8% during the forecast period of 2019-2029.
- The high adoption of cosmetic products is expected to drive growth of the cosmetic pencil & pen market over the forecast period.
- Collectively, Asia Pacific and Europe are expected to account for ~ 65% revenue share in the cosmetic pencil & pen market, by the end of 2029.
- The presence of an adequate number of prominent cosmetic pencil & pen manufacturers in these regions is ultimately contributing to the growth of the cosmetic pencil & pen market.
- Middle East & Africa and emerging countries hold a high potential for growth in the global cosmetic pencil & pen market.
- Increase in consumption of beautifying product in countries such as India and China creates significant demand for cosmetic pencil and pen. Key manufacturers are consistently focusing on regions such as Asia Pacific and especially on South East Asia to capture the noteworthy market share.
Key Factors Shaping the Cosmetic Pencil & Pen Market
Increase in Demand for Easy-to-use Cosmetic Products
The demand for cosmetic pencil & pen is driven by its ease of usage. Consumers prefer cosmetic products, which are convenient to use and can be applied perfectly by everyone. Cosmetic pencil and pen are among the most used cosmetic products commonly incorporated in the application of eye makeup and lip makeup.
Cosmetic pencil & pen market is primarily influenced by the increase in per capita income of women, therefore working women accounts for over 20% of the cosmetic sales across the globe. This is expected to increase during the forecast period, reflecting in amplified sales of cosmetic pencils & pens that are convenient to apply.
Packaging: A Key to Differentiate the Brand in Cosmetic Pencil & Pen Market
Packaging plays an important role in branding and promotion of beauty products, which makes it an integral part of the cosmetics industry. Brand promotion increases the brand reflectivity thus resulting in improvement in target sales. Cosmetic pencil & pen market is also influenced by the innovative and attractive designs of packaging, and leading manufacturers are increasing focus on marketing of their products through unique packaging.
As packaging of cosmetic pencil & pen can give the product an attractive look, it can ultimately help not only in attracting new customers but also in retaining the existing customers. Global cosmetic pencil & pen market is expected witness an increase in market share in the forecast period due to preference for luxury and easy to apply cosmetic product.
Sales to Soar in Developing Countries, Especially in Asia Pacific
The Asia Pacific region is projected to witness positive growth in the global cosmetic pencil & pen market during the forecast period. It is expected to observer a CAGR of ~9.3% during the forecast period. The Asia pacific region is expected to be the highly lucrative region regarding cosmetic pencil & pen market share by the end of the forecast period. The amount of trade Carried out in China, South Korea and Japan for cosmetic product makes the Asia Pacific prominent market. However, Europe and North America are expected to cumulatively account for a market share of ~50% of the global cosmetic pencil & pen market.
Cosmetic Pencil & Pen Market Structure Analysis
- Intercos S.p.A, Swallowfield PLC, Schwan-STABILO Cosmetic GmbH & Co. KG and HCT Group are the leading manufacturers (tier 1) of cosmetic pencil & pen worldwide. This tier 1 companies hold a revenue share of up to 15% across the global cosmetic pencil & pen market.
- Expansion and merger strategies was adopted by key players to expand their business and product portfolio.
- Product developments and new product launches is one of the important trends followed by the prominent cosmetic pencil & pen manufacturers.
- In April 2019, W. Faber-Castell Cosmetics GmbH launched Pure & Pure² Beauty Collection, made from vegan and natural formulation for a cleaner and greener product which includes 12 different color cosmetic pencils with high performance and rich pigment.
The cosmetic pencil & pen market has been relatively moderate in size, which remains as key factor for its dynamic competitive nature. Some of the other prominent players in the market are Alkos Cosmetiques SAS, Oxygen Development LLC, JOVI S.A, A.W. Faber-Castell Cosmetics GmbH, Confalonieri Matite S.R.L, Columbia Cosmetics Manufacturing Inc, Eugeng International Trade Co., Ltd., Quadpack Spain SL, Ningbo Beautiful Daily Cosmetic Packaging Co., Ltd., The Packaging Company, and Alovey Cosmetic Packaging Co.,Ltd.
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Cosmetic Pencil & Pen Market: Segmentation
By Product Type
- Sharpenable Wooden Pencils
- Sharpenable Molded Pencils
- Mechanical Pencils
- Eyeliner & Kajal
- Eye Shadow
- Eye Brow
- Lip Liners
- Lip Gloss
- Clean-up Pencils
- Concealer Pencils
- Cheek Balms
- Sculpting Pencils
- Skin Glossing Pencils
- North America
- Latin America
- Asia Pacific