“Global Eye Makeup Market to reach a market value of USD 28.6 Billion by 2031 growing at a CAGR of 6.1%”
The Global Eye Makeup Market size is expected to reach $28.6 billion by 2031, rising at a market growth of 6.1% CAGR during the forecast period.
The Europe segment acquired 35% revenue share in the market in 2023. The segment's expansion is driven by the region’s strong beauty culture, high consumer spending on cosmetics, and the presence of numerous leading beauty brands. The demand for high-quality, innovative products and growing sustainability and organic beauty trends further boost the European market.
Social media platforms such as Instagram, YouTube, and TikTok have revolutionized the beauty industry, significantly influencing consumer behavior and preferences, particularly in this market. Globally, the number of social media consumers has reached a new high of 5 billion. The anticipated increase in this figure is that it will reach approximately 5.80 billion users by 2027. Millennials and Gen Z comprise a substantial portion of the user base of these platforms, which are more inclined to follow and trust influencers. Hence, the visual appeal of them in online content drives consumers to experiment with different looks, propelling sales.
Additionally, As consumers become more selective and discerning in their beauty purchases, offering high-quality, functional products that stand out visually is crucial for capturing market share. One of the key areas of innovation is the development of long-lasting, smudge-proof, and waterproof products. These innovations appeal to consumers with active lifestyles or those living in humid climates, where traditional products may not hold up as effectively. Thus, this market is witnessing significant growth driven by technological advancements in product formulations.
However, Consumers are increasingly cautious about the ingredients in their beauty products, especially with growing awareness about harmful chemicals. These products often contain parabens, phthalates, and synthetic fragrances associated with various health risks. For instance, parabens have been associated with hormonal imbalances, while phthalates are recognized for their potential to disrupt the endocrine system. Hence, health and skin sensitivity issues have become a prominent challenge for this market.
On the basis of source, the market is bifurcated into organic and conventional. The organic segment witnessed 35% revenue share in the market in 2023. Organic eye makeup, often formulated with natural ingredients, appeals to eco-conscious consumers who value sustainability and product transparency. The growing awareness around health and environmental impacts, coupled with rising demand for hypoallergenic and non-toxic formulations, contributes to the segment's notable growth.
By distribution channel, the market is divided into online and offline. The online segment procured 17% revenue share in the market in 2023. The rise of virtual try-on tools, influencer-driven marketing, and social media integration has made online shopping more attractive to consumers, especially younger demographics. Moreover, the pandemic-driven shift toward online retail persists, with consumers continuing to appreciate the ease of comparing products, accessing customer reviews, and benefiting from home delivery.
Based on product, the market is classified into mascara, eye shadow, eye liner, eye pencil, eye brow enhancers, and others. The eye shadow segment procured 26% revenue share in the market in 2023. The increasing consumer demand for neutral, striking eye looks that can be used on a variety of occasions is the reason for the growth of this segment. The trend of experimenting with eye makeup, fueled by social media tutorials and influencer recommendations, encourages using multi-color palettes and long-wear formulas.
Free Valuable Insights: Global Eye Makeup Market size to reach USD 28.6 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 27% revenue share in the market in 2023. The region's demand is still being driven by the trend of bold eye makeup styles, beauty influencers, and social media. Moreover, the popularity of luxury and mass-market cosmetics, alongside the growing clean beauty trend, enhances the eye makeup market in North America.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 18 Billion |
| Market size forecast in 2031 | USD 28.6 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.1% from 2024 to 2031 |
| Number of Pages | 219 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Source, Product, Distribution Channel, Region |
| Country scope |
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| Companies Included | L'Oréal S.A., Pacifica Beauty LLC, Unilever PLC, Kao Corporation, NAOS, The Estee Lauder Companies, Inc., Johnson & Johnson, Pierre Fabre S.A, Amway Corporation, and Coty, Inc. |
By Source
By Distribution Channel
By Product
By Geography
The Market size is projected to reach USD 28.6 billion by 2031.
Rising Popularity Of Social Media And Beauty Influencers are driving the Market in coming years, however, Health Concerns And Skin Sensitivity Issues restraints the growth of the Market.
L'Oréal S.A., Pacifica Beauty LLC, Unilever PLC, Kao Corporation, NAOS, The Estee Lauder Companies, Inc., Johnson & Johnson, Pierre Fabre S.A, Amway Corporation, and Coty, Inc.
The expected CAGR of this Market is 6.1% from 2024 to 2031.
The Offline segment led the maximum revenue in the Market by Distribution Channel in 2023, thereby, achieving a market value of $23.3 billion by 2031.
The Europe region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $9.7 billion by 2031.
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