Impact of COVID-19 on the Global Mascara Market
The advent of the global pandemic, COVID-19, has resulted in creating a global crisis. Impacting over 195 countries, the pandemic has already created a global economic backdrop, resulting in a global recession. With the rising number of cases rapidly, the global mascara market is getting affected in many ways. Few impacts of the outbreak of COVID-19 on the global mascara market have been discussed below:
The overall cosmetic industry is facing a hard time due to the COVID-19 outbreak. The global cosmetics players are taking necessary steps to mitigate the losses due to the COVID-19 outbreak by shifting their production lines to manufacturing essential health and hygiene products. The retailers of cosmetics are prioritizing itself by selling essential items such as food and beverages, along with an assortment of sizes and SKUs of other product categories. The worldwide lockdown due to the global COVID-19 crisis has notably influenced consumer buying behavior by shaping consumer buying habits, prioritizing products.
As a result of the global pandemic, consume preference towards beauty care products is anticipated to arise. According to MRFR analysis, the demand for mascara is anticipated to increase in the months after the lockdowns are lifted. As people are staying at home due to lockdown restrictions, the demand for mascara and other beauty products is anticipated to increase post-COVID-19. However, the increasing demand for mascara and other beauty products will be useless until the lockdown restrictions are eased.
The COVID-19 outbreak has resulted in the temporary closure of retail stores and shops selling mascara and other beauty products. It has also crippled the supply chain resulting in demand and supply gap. The manufacturing of mascara and other beauty products has also been restrained due to the temporary closure of many cosmetic companies due to COVID-19 restrictions. Online e-commerce companies are facing hard times in mitigating the loss as mascara is a non-essential product, and only essential products are being allowed to be sold through online channels, amidst the current chaotic situation due to the COVID-19 outbreak.
Although the demand for mascara and other beauty products is increasing. However, issues such as supply chain disruptions, logistics issues, limited availability of raw materials, unavailability of labor, and being a non-essential product are anticipated to lower the sales of mascara for the next couple of months. However, as the lockdown restrictions slowly ease worldwide and the sale of non-essential products begin, the global mascara market is anticipated to witness a boost.
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