the surge in adoption of personal care products in developed regions of North America and Europe has significant contribution towards the growth of the eyelash serum market. Moreover, the rise in women participation in the corporate industry in the developing nations is expected to drive the demand for the organic cosmetic products as women tend to use it on daily basis which includes eyelash serum.
According to a new report published by Allied Market Research, titled, “Eyelash Serum Market,” The Eyelash Serum Market Size was valued at $752.10 million in 2020, and is estimated to reach $1.3 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. There is an increase in number of social media users, owing to rise in internet penetration. Considering this, most key players in the eyelash serum market strategize on promoting their products and services on social media platforms.
Eyelash serum offers moisture and elasticity to eyelashes, which makes them shiny and thick. It offers repairing effect and encourages growth of eyelashes to maintain beautiful and dense state of eyelashes. Applicators are used to apply eyelash serum easily from inner side to outer side. Eyelash serum is widely used by people in events, which includes big parties, meetings, weddings, and seminars to enhance their appearance. These factors are projected to drive the Eyelash Serum Industry in the coming years.
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Social media marketing is one of the major strategies adopted by various companies and industries on imparting awareness regarding their product offerings among target customers. Thus, through social media marketing strategy, the global cosmetics market sights critical opportunities in gaining traction and increasing its customer reach among its target segments. Rise in working women creates an opportunity for countries to increase size of their workforce and achieve additional economic growth. In addition, a greater number of working women leads to growth of cosmetics in the market which leads to Eyelash Serum Market Growth in the process.
E-commerce or online store is a huge platform growing at a tremendous rate worldwide. Consumers of every age, including generation X, millennial, or generation Z prefer to shop from e-stores. This is attributed to the fact that online shopping is more convenient as compared to shopping at physical stores, owing to rise in number of retailers focusing on e-commerce, thus making it convenient for consumers. Furthermore, increase in penetration of internet and rise in percentage of population inclining toward online shopping are the growing Eyelash Serum Market Trends and are expected to provide potential opportunity for eyelash serum manufacturers to sell their products through online platform, thus making them easily available for consumers and increasing consumer awareness regarding their products.
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The eyelash serum market is segmented into type, ingredients, distribution channel, and region. On the basis of ingredient, the market is categorized into organic eyelash serum and conventional eyelash serum. On the basis of type, it is categorized into lash primer, prostaglandins, and peptide, On the basis of distribution channel, it is fragmented into supermarkets/hypermarkets, specialty stores, online sales channels, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, Turkey, South Africa, and rest of LAMEA).
According Eyelash Serum Market Analysis for market players, major obstacles attributed to the pandemic was disruption of supply chain. Furthermore, all distribution channels were nearly shut down in the first quarter of the pandemic. However, online channels such as E.l.f. Cosmetics Inc., Grande Cosmetics LLC, JB Cosmetics Group, L’Oréal S.A., LVMH Group, Pacifica Beauty, RapidLash, RevitaLash, Shiseido Company, Limited, and Skin Research Laboratories.
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Key findings of the study
- On the basis of ingredient, the organic eyelash serum segment is expected to be the fastest growing segment during the Eyelash Serum Market Forecast period.
- On the basis of type, the lash primer segment had the major Eyelash Serum Market Share in 2021.
- On the basis of distribution channel, the online sales channel segment is expected to be the fastest growing segment during the forecast period, with the CAGR of 7.7%.
- On the basis of region, Asia-Pacific is expected to be the fastest growing segment during the forecast period with the CAGR of 6.5%.
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