Eye Shadow Market

Eyeshadow Market Analysis and Review by Product—Powder form, Liquid Form, and Pencil Form for 2021 and 2031

Eyeshadow Market Snapshot

[300 Pages Report] As per newly released data by Future Market Insights (FMI), the demand in the eyeshadow market grew by year-on-year (YoY)  5.5% in 2021, reaching a market valuation of US$ 2.7 Bn.

Expanding at a 6.8% CAGR, sales of eyeshadow are projected to top 743 Mn Units over the forecast period. Regionally, North America and Europe are expected to emerge as the most lucrative markets, with the U.K, the U.S., Australia and Germany emerging dominant as key producers.

Attribute

Details

Base Year Value (2020A)

US$ 2.5 Bn

Estimated Year Value (2021E)

US$ 2.7 Bn

Projected Year Value (2031F)

US$ 5.2 Bn

Value CAGR (2021-2031)

6.8%

2016-2020 Global Eyeshadow Market Outlook Compared to 2021-2031 Forecast

Demand for eyeshadow grew at a healthy 6.8% CAGR between 2016 and 2020. Over the past few months overall beauty industry has been greatly impacted by the outbreak of the novel coronavirus.

Disruption in retail stores and shops was one of the primary factors dampening the sales of cosmetic products in the industry. To sustain their businesses and curb the losses incurred due to the global pandemic outbreak, retail shop owners undertook numerous efforts.

The cosmetic industry is known for its long term attractiveness. Since past few decades the industry has successfully generated and attracted loyal consumers. All these factors will aid the growth of eyeshadow market in the coming years.

Also, with steady resumption in social activities and commencement of vaccination, sales of eyeshadows are expected to register an upward trend during the forecast period. Based on these factors, FMI projects the global eyeshadow market to achieve optimistic growth in the coming years.

How will Key Players Benefit from Changing Trends in Beauty Industry?

The beauty and cosmetics industry is one that frequently undergoes significant changes in demand and supply forces. With increasing awareness and consciousness about skincare, consumers are switching to ‘premium brands’ for better results.

On the back of this , FMI estimates ‘Premium” to be one of the key segments in the global eyeshadow market. Hence, accelerating the sales of eyeshadow market in the coming years.

Over the past few years a slight change in the demographic of beauty consumers has been observed. Millennials are running at the forefront in a race to hold a significant space in beauty consumer demographic.

In light of this, several leading players are extensively focusing on digital engagement to attract the younger generation. Key players are extensively promoting their brands on social media platforms as these individuals are more inclined toward using digital platforms as first pathways to gain information as well as for making purchases.

Apart from this, in case of supply side, growth in the eyeshadow market is expected to bolster by rapid emergence of local, regional and national brands. Additionally, advent of new players in the market across key geographies is also one of the factors boosting the eyeshadow market growth.

Further, penetration of social media and e-commerce platforms will play a vital role in generating lucrative revenues for the key players in eyeshadow market.

Will Preference for Organic Beauty Products and Availability of Alternatives Impede the Sales?

“Clean beauty” and “Natural & Organic” are buzz words that have gained significant popularity in beauty industry. However, such beauty products also come with certain exception and problems.

For instance, natural beauty and organic products such as eyeshadows have a small life span as compared to conventional eyeshadow. Hence, lower life span of natural and organic eyeshadow products are likely to limit consumer’s preferences for natural and organic eyeshadow products.

Besides this, escalating prices is another factor that is likely to impact the consumer’s usage frequency, limiting the sales of eyeshadows in the market.

Easy availability and ‘Do-it-Yourself’ trend in the market such as use of  lipstick, blush, etc. as eyeshadow will also hamper the sales of eyeshadows to some extent in the coming years.

Country-wise Insights

How is Demand for Eyeshadow Market Faring in the U.S.?

North America market is estimated to account for 23.8% market share in terms of value, with the U.S. expected to account for over 79.3% of market share in 2021. Sales of eyeshadows are experiencing an uptick in the market owing to the rising penetration and promotion of beauty bloggers and makeup experts in the region.

Social media beauty influencers are playing an important role in changing the face of skincare and cosmetics industry by attracting a significant number of beauty enthusiast and followers on social media platforms such as Instagram, YouTube, and others.

Hence, influencer marketing, as a promotional strategy is gaining immense popularity among the leading beauty brands who are targeting potential beauty enthusiasts, i.e. a beauty consumer.

Many of the beauty bloggers and influencers based in the U.S. are engaged in creating beauty instruction videos and content where they also promote brands. Hence, they play an important role of a mediator in influencing consumers preferences regarding potential brands.

Consequently, all these efforts undertaken by beauty social media influencers are likely to provide the brands a competitive edge in the U.S. over the coming years.

Will the U.K. Continue Exhibiting High Demand for Eyeshadow?  

As per FMI, the U.K. is projected to dominate the Europe’s eyeshadow market, exhibiting stellar growth at 30.7% CAGR over the forecast period. Recent clean beauty, natural and organic skincare trends are bringing in significant changes in the regional eyeshadow market.

Leading players are now significantly engaged in extending their offerings to include organic eyeshadows. Few of these offerings are being promoted as organic eyeshadows that are colored by pure minerals obtained from nature.

Players operating in the regional market are using numerous claims and connotations such as natural, organic, vegan, and cruelty-free to further woo the consumers. With growing demand for organic eyeshadows, prominent brands are extending their organic range to include metallic party shades.

For instance, Inika Organic is one such brand that has introduced metallic shimmer and bold shades using organic and natural ingredients.

How will the Eyeshadow Market Expand across India?

In 2021, India will account for over 30.7% market share in South Asia. Growth in the India market is further expected to be driven by the rising awareness and consciousness about the skincare among the consumers in the country. Significance of beauty has been rapidly increasing across India over the past few years.

Riding a wave of dynamic change, the beauty industry in India is currently more focused on fulfilling the needs of informed beauty consumer. Millennials in India are now more aware and informed about the products they purchase and use.

Premium brands and cosmetic ingredients with rapid results are instantly grabbing major eyeballs of consumers in India. Hence, their inclination towards safe and protective cosmetics products is likely to impact and facilitate change in trends in the India’s eyeshadow market.

Besides this, with growing number of informed beauty consumers in the country has surged the demand for eyeshadow products with sustainable packaging, improving the trend across India.

Category-wise Insights

Why are Sales of Powder Eyeshadows Accelerating?

Based on product type, the powder segment is projected to account for a significant market share of 66.9% in 2021. The capability of powder eyeshadows to facilitate easy blend has made their adoption common as compared to other forms.

Besides this,  powder eyeshadows are widely used as its use is especially recommended for beginners. Due to these factors, powder eyeshadows are expected to gain immense popularity over the other forms during the forecast period.

Apart from this, pencil eyeshadow category is expected to reflect an optimistic growth over the coming years.

Which is the Chief Application in the Eyeshadow Market?

As per FMI’s analysis, professional application holds a notable share of 65.9% of the total eyeshadow market share in 2021. However, with the rapidly growing trend of minimal makeup on daily basis has impacted its usage frequency on daily personal level.

Hence, personal application segment is expected to register remarkable growth at 7.9% CAGR during the forecast period.

How will Preference for Premium Price Range Eyeshadow Bolster Sales?

In terms of price range, mass category is dominating the market with a share of 61.5% in the global eyeshadow market. However, premium segment is expected to reflect a significant growth in the coming years as demand for safe, premium quality and good finish eyeshadows is expected to grow.

Besides this, rising preference for natural and organic eyeshadows is further likely to facilitate a positive growth in the premium category, registering growth at 7.7% CAGR through 2031.

Store Based Retailing to Continue to Remain Primary Sales Channel

As per FMI, in terms of sales channel, store based retailing is expected to remain prominent as compared to online channels. Multi-brand stores segment accounts for lion’s share of 26.2% in 2021.

Following the outbreak of COVID-19, retail sales are now being challenged by online sales. Sales through online retailers are expected to reflect impressive growth at 8.8% CAGR during the period of forecast.

Besides this, direct sales segment is also gaining popularity as beauty brands are engaging themselves in creating a direct consumer engagement, with an aim to create and develop loyal consumers.

Competitive Landscape

Beauty brands currently operating in the market are stressing more on ‘above-the-line’ promotional strategies that involves celebrity endorsements, marketing through media channels, and influencing consumer perception through in-store beauty experts and consultants.

Such active participation of beauty brands is further expected to improve the demand for eyeshadows in the coming years. Numerous leading brands are dominating the eyeshadow market, resulting in intense competition.

Several well-established brands are slowly losing their foothold in market as the market is currently experiencing the emergence of private label, prestige and indie brands. Thus to resist high competition, players in the market are focused on enhancing product development. For instance,

  • In 2021, Charlotte Tilbury improved its product portfolio with the launch of its new cream eyeshadows in two new shades that includes Pilow Talk (shade of dusty pink along with rose-gold sparkle) Walk of No Shame (rusette-gold with sparkle).
  • In 2020, MAC introduced new Underground BioBrilliant Glitter Eyeshadow Pallete with four shades made up of plant-based ingredients.
  • In 2017, Tarte Cosmetics announced the launch of its new product line that included “Buried Treasure Eye Pallete” which comes with 10 shimmering shadows.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa

Key Countries Covered

US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, Indonesia, Malaysia, Thailand, Australia, New Zealand, GCC Countries, Turkey, North Africa and South Africa

Key Segments Covered

Product Form, Application, Price Range, Sales Channel and Region.

Key Companies Profiled

  • 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

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • What is the current eyeshadow market value?

    The global eyeshadow market reached a valuation of US$ 2.7 Bn in 2021.

  • At what rate did the global eyeshadow market grow between 2016 and 2020?

    The global eyeshadow market grew at a 4.8% CAGR between 2016 and 2020.

  • What are the key trends driving eyeshadow sales?

    Growing significance of prestige beauty is paving the way for growth in eyeshadow market. Besides this, the inclination towards ‘clean’ & ‘natural and organic’ is rapidly growing with rise in number of informed beauty enthusiasts.

  • Who are the leading players in the global eyeshadow market?

    Leading players operating in the global Eyeshadow market comprise L’Oreal SA, LVMH (Moët Hennessy -Louis Vuitton), Estee Lauder Companies Inc., Revlon, Inc., Shiseido Co, Ltd., Chanel S.A., Coty, Inc.

  • What will be the demand outlook for North America eyeshadow market?

    The North America’s eyeshadow market is projected to grow at a 2.6% CAGR over the forecast period.

  • What is the market share of the leading players operating in the eyeshadow market?

    Leading players in the global eyeshadow market are estimated to account for approximately 25%-35% of the total market share.

  • What is the eyeshadow demand outlook for Europe?

    The eyeshadow market in Europe is anticipated to expand at 3.9% CAGR over the forecast period.

  • What are the key statistics of the South Korea and Japan eyeshadow market?

    Japan and South Korea account for 33.4% and 23.8% of market share in the East Asia eyeshadow market in 2021.

Global Eyeshadow Market by Category

By Product Form:

  • Powder Form
  • Liquid Form
  • Pencil Form
  • Others

By 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

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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