Increasing demand for high-quality cosmetics among individuals drives the growth of the global eyelash serum market.
Allied Market Research published a report, titled, “Eyelash Serum Market by Ingredients (Organic, Conventional), by Type (Lash Primer, Prostaglandins, Peptides), by Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Online Sales Channel, Others): Global Opportunity Analysis and Industry Forecast, 2020-2031.“ According to the report, the global eyelash serum industry was estimated at $752.10 million in 2020, and is anticipated to hit $1.3 billion by 2031, registering a CAGR of 5.7% from 2022 to 2031.
Drivers, restraints, and opportunities-
Increasing demand for high-quality cosmetics among individuals drives the growth of the global eyelash serum market. On the other hand, high cost of such serum impedes the growth to some extent. However, rising demand for technologically advanced products and growing inclination of end-users toward improved quality of serums are expected to create new opportunities in the industry.
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Covid-19 scenario-
- The global lockdown affected the domestic and international production of skincare products, which impacted the global eyelash serum market negatively.
- However, sales of companies have gradually been regained and the market has started recovering at a quick pace.
The conventional segment to lead the trail-
On the basis of ingredients, the conventional segment held the major share in 2020, garnering nearly 90% of the global eyelash serum market, owing to easy availability of conventional eyelash serums in the market through various sales channels, including supermarkets, specialty stores, and online sale. The organic segment, on the other hand, is projected to cite the fastest CAGR of 6.7% throughout the forecast period. As consumers are becoming health conscious and are aware of unhealthy production of ingredients and their effects on the skin, demand for organic products has increased to a significant extent, thus propelling the segment growth.
The hypermarkets and supermarkets segment held the major share in 2020-
On the basis of distribution channel, the hypermarkets and supermarkets segment contributed to the lion’s share in 2020, holding more than one-third of the global eyelash serum market, due to easy availability of products in the stores. However, the online sales channel segment is projected to manifest the fastest CAGR of 7.7% from 2022 to 2031. This is because online sales channels are widely accepted by consumers in developed countries of North America and Europe, owing to increase in adoption of mobile phones and rise in the Internet penetration.
Asia-Pacific to dominate by 2031-
By region, Asia-Pacific dominated in 2020, garnering nearly two-fifths of the global eyelash serum market. The same region is also expected to cite the fastest CAGR of 6.5% throughout the forecast period. The makeup sector in China, especially in tier 2-3 cities and lower-tier cities, has huge room for further growth, which is expected to boost the demand for eyelash serums among customers. This, in turn, drives the growth of the market.
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Key players in the industry-
- Grande Cosmetics LLC
- JB Cosmetics Group
- L’Oréal S.A.
- Skin Research Laboratories LVMH Group
- Pacifica Beauty
- RapidLash
- RevitaLash,
- Shiseido Company, Limited
- E.l.f. Cosmetics Inc.
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