The global eye makeup products market was valued at USD 25.1 billion in 2022 and is projected to expand at a CAGR of 4.7% from 2023 to 2030. The rising focus of consumers on physical appearance and their willingness to experiment with different looks is driving the market for eye makeup. In addition, changing lifestyle and increasing disposable income are expected to boost the demand for eye makeup products. Furthermore, the growing influence of social media and the availability of numerous tutorials are influencing the preferences of consumers, and consequently, driving the market growth.

Furthermore, the introduction of various innovative products is propelling the market growth. For instance, in 2021, L’Oréal launched a new eye makeup product, Super Liner Lash Mania, to provide a volumizing and lengthening effect to lashes. Moreover, the increasing trend of veganism is encouraging the manufacturers to introduce vegan eye makeup products. For instance, in 2021, CoverGirl launched its Clean Fresh range of vegan and cruelty-free makeup products, which includes four eye makeup products.

In addition, the introduction of technological advancements is expected to create lucrative opportunities for the market. For instance, AI-powered beauty tools are being used by leading brands for virtual try-on applications and to advise customers on eye makeup products. For instance, in 2021, Sephora launched its Color Match app, which helps users to select the right color for their eye makeup. In addition, the rising trend of online shopping is expected to boost the market growth in the coming years. According to a report by the US Department of Commerce, in 2021, the online sales of beauty and personal care products registered a growth of 21.3% in the US.

Furthermore, the increasing number of promotional activities by the leading market players is expected to drive the market growth. For instance, in 2021, Maybelline launched its “Go Big with Big Shot” campaign, which featured a series of content pieces and tutorials to promote its Big Shot mascara. Furthermore, the rising number of collaborations among the leading players is expected to support the market growth. For instance, in 2021, Coty collaborated with the British beauty influencer, Tia Johnson, to launch a new range of eye makeup products.

The mascara segment accounted for the majority of the market share and is projected to grow at a CAGR of 8.2% during the forecast period. Factors such as increasing focus on eye makeup, growing awareness about new mascara products, and the availability of a variety of mascara shades and types are driving the growth of the segment. According to an article published by Beauty Magazine, in April 2020, mascara is the most popular eye makeup product among women, with 55% of them using it.

The eyeliners segment is expected to witness a significant growth rate over the forecast period owing to rising trends among consumers for eye makeup, increasing demand for various types of eyeliners, and the availability of various shades and styles of eyeliners. Furthermore, the increasing popularity of online retail channels is providing manufacturers an opportunity to reach a wider consumer base and expand their product portfolios. According to an article published by Beauty Magazine, in April 2020, 40% of women use eyeliner.

The departmental stores segment captured the major share of over 37.2% in 2022. Departmental stores are the prominent distribution channel for eye makeup products due to their wide product selection, attractive discounts, and ease of shopping. According to a report by Deloitte in 2020, departmental stores are the most preferred destination for consumers to purchase beauty and personal care products. The growth of the segment is mainly driven by consumers’ inclination towards brick & mortar stores for purchasing eye makeup products.

The online segment is anticipated to expand at the highest CAGR of 12.8% over the forecast period. Online stores offer a large selection of eye makeup products from well-known brands, allowing consumers to compare between different brands and prices before making a purchase. In addition, online stores provide discounts and promotional offers that attract a large number of consumers. For instance, in April 2021, Amazon launched “Prime Beauty”, a beauty store that offers a wide range of eye makeup products from well-known brands. The store offers exclusive deals, free shipping, and free returns on select products.

The mass segment accounted for the largest revenue share of 64.5% in the year 2022. The increasing availability of mass eye makeup products at lower prices, along with the increasing trend of DIY makeup among women, is driving the segment. Moreover, the rising demand for mass eye makeup products in developing economies such as China and India is further propelling the market. For instance, in May 2021, Faburr, an Indian cosmetic brand, launched an affordable range of eye makeup products, such as kajal, liquid eyeliner, and mascara.

The premium segment is anticipated to expand at the highest CAGR of 7.7% over the forecast period. The growing demand for natural and organic eye makeup products is one of the major factors driving the premium segment. For instance, in August 2021, Kiko Milano, an Italian makeup brand, launched a vegan and cruelty-free range of eye makeup products. This premium range of eye makeup products contains natural ingredients such as argan oil, aloe vera, and rose water, which support skin regeneration. Furthermore, the rising trend of celebrity endorsements and influencer marketing is another major factor driving the premium segment.

Asia Pacific is expected to be the fastest-growing region in the forecast period. Increasing awareness about makeup and beauty products among consumers is expected to drive the growth of the market in the region. For instance, in March 2021, Japanese cosmetics maker Shiseido announced the launch of its new eye makeup line called ‘NEV’ in the Asia Pacific region, which it claims is the first eye product line to combine eye care, makeup, and skincare.

North America is expected to account for the largest revenue share of the global eye makeup products market in 2022. The presence of prominent global players in the region is expected to drive the growth of the market in the coming years. For instance, in October 2021, L’Oréal launched the ‘Unlock Your Beauty’ campaign in the U.S. to promote the use of makeup and its products.

In this part of the Eye Makeup Products Business Plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your eye makeup business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for an eye makeup products business comes from the sale of makeup products, such as eye shadows, eyeliners, mascaras, eyeshadow palettes, and other related items. Here you will find a list with a description of each product and other possible sources of profit such as subscription boxes and online sales.

Projecting Expenses

In this section, all the regular expenses related to keeping the eye makeup products business running will be described. The list of operating expenses includes product development and manufacturing costs, marketing expenses, inventory costs, payroll expenses, rent and utilities, insurance policies, advertising, and others.

Some of the key companies operating in the eye makeup products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In August 2022, L’Oreal Paris launched the Voluminous Lash Paradise Mascara, a new mascara designed to offer voluminous, full lashes.

– In September 2022, Maybelline New York launched the Lash Sensational Sky High Mascara, a new mascara designed to provide dramatic, long lashes.

– In October 2022, COVERGIRL launched the Exhibitionist Mascara, a new mascara designed to provide an intense, voluminous look.

Some of the prominent players in the eye makeup products market include:

– L’Oreal SA
– Coty, Inc.
– Unilever
– Shiseido Company, Ltd.
– Kao Corporation
– Procter & Gamble Co.
– Estee Lauder Companies, Inc.
– Revlon, Inc.
– Maybelline New York
– COVERGIRL

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global eye makeup products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Mascara
– Eyeliner
– Eyeshadow
– Eyebrow Products
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the major trends in the eye makeup products market?
[A]: The eye makeup products market is witnessing a surge in the demand for cruelty-free and vegan eye makeup products, natural color palettes, and waterproof and smudge-proof formulations. Additionally, the trend of multifunctional eye makeup products, such as eyeshadow palettes that can be used as blush or lip color, is gaining traction in the market.

[Q]: What are the key drivers of the eye makeup products market?
[A]: The key drivers of the eye makeup products market include the increasing popularity of eye makeup amongst millennials, the growing demand for long-lasting and waterproof products, and the rising trend of e-commerce platforms.

[Q]: Who are the major players in the eye makeup products market?
[A]: Major players in the eye makeup products market are L’Oréal S.A., Shiseido Company, Limited, Procter & Gamble, Revlon Inc., Coty Inc., Kose Corporation, Unilever PLC, LVMH Moët Hennessy Louis Vuitton SE, Kao Corporation, and Mary Kay Inc.

[Q]: What is the regional outlook of the eye makeup products market?
[A]: The eye makeup products market is expected to grow significantly in Europe and North America due to the presence of major beauty and personal care companies and the increasing demand for natural, vegan, and cruelty-free products in these regions. The Asia Pacific region is likely to witness the fastest growth in the market due to the increasing disposable income and the rising demand for luxury and premium products.

[Q]: What are the major strategies adopted by the eye makeup products market players?
[A]: Major strategies adopted by the eye makeup products market players include product launches, mergers and acquisitions, and collaborations. For instance, in November 2018, L’Oréal launched its new line of eye makeup products, Color Riche Les Ombres, which provides a range of matte, metallic, and glittery shades.