Skin care might be the belle of the ball when it comes to beauty industry sales projections, but eye products have set their sights—pun intended—on giving it a run for its money.
According Fact.MR’s report “Eyelashes Enhancing Agents Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027,” the next few years are looking strong for eyelash enhancing agents in particular. Among the report’s findings:
- The eyelash enhancing agents market was valued at approximately $280 million in 2018, and is projected to register a year-over-year growth of more than 5% in 2019.
- It is projected to exhibit a CAGR of over 5% through 2027
- Industry influences include innovative developments in cosmetic formulations and the high prevalence of eye inflammations (such as madarosis and blepharitis) that lead to the thinning and loss of eyelashes
- Manufacturers have turned their focus to extending the growth cycle duration of eyelashes and enhancing the density of hair in each cycle
- Meanwhile, brands are making efforts to offer effective strengthening products with additional benefits, such as protection from environmental and climate factors
- Key market players are investing in marketing activities to better position their products, and are strengthening their distribution across channels, including franchise outlets and online stores
- As consumer interest in wellness grows, more shoppers are looking for serums and sprays to lengthen brittle lashes
- North America continues to lead the market for eyelash enhancing agents, with an overall 2018 estimate revenue of nearly $100 million; this is driven by consumers more willing to spend on personal care products and R&D investments
- Asia Pacific Excluding Japan (APEJ) is a high-growth market for eyelash enhancing agents, slated to record year-over-year growth of nearly 7% in 2019; growing opportunities in the region can be attributed to increased interest in beauty products from consumers in the region and a higher prevalence of eye inflammations
- Sales of eyelash enhancing agents for repairing damaged eyelashes will continue on an upswing, with estimated 2018 revenues of around $190 million
For more information, or to request the full report, visit www.factmr.com.