Global Mascara Market is estimated to procure a market value of USD 10,306.16 Million while thriving at a CAGR of 6.70% by 2023, evaluates Market Research Future (MRFR).
The outbreak of COVID-19 brought a negative impact on the market, affecting the worldwide cosmetics mascara market share. The cosmetic industry is facing a significant loss due to the temporary shutdown of retails and shops selling cosmetic products. The imposition of lockdown across the globe disrupted the manufacturing and supply chain, which adversely impacted the sales of the product. However, the market can gain momentum in the coming time owing to the adoption of various useful strategies by the key players.
Growing Demand for Eye-Cosmetics to Boost the Market during the Forecast Timeframe
The rising demand for eye-cosmetics across the globe is expected to be a significant factor that can enhance the size of the global mascara market during the forecast period. The increasing number of working women is anticipated to be another factor that is predicted to drive the industry in the analysis timeframe. The rapid expansion of the cosmetic industry across the globe can develop the market in the coming time. The rising disposable income is recognized to be another potential factor that can fuel the demand in the future. In addition, the ease of availability of the product through online shopping portals is predicted to play a salient role in augmenting the mascara market size in the analysis timeframe.
Increasing Demand for Varieties of Mascara to Offer Lucrative Opportunities in the Assessment Timeframe
The growing demand for waterproof mascara across the globe owing to the increasing awareness about various types of eye makeup is expected to pose a significant opportunity for market expansion during the forecast period. Also, the growing popularity of colorful mascaras in the market is predicted to offer lucrative opportunities to the mascara manufacturers in the analysis timeframe.
Expensive Mascaras to Hamper the Market Growth during the Review Period
The expensive mascaras are likely to hamper the market mascara industry in the analysis timeframe. The growing demand for cruelty-free mascaras is another salient factor that is likely to restrict market expansion in the coming time.
Presence of Harmful Chemicals to Pose a Significant Challenge in the Market Growth in the Coming Time
The eye cosmetic mascara, contains various chemicals that can harm the eyes. The presence of chemicals is likely to hamper the sales of the market, thereby challenging the mascara market growth.
Cumulative Market Growth Analysis
MRFR asserts that the global market for mascara is expected to witness significant growth in the coming period. The increasing number of working women and the rapid expansion of the cosmetic industry are likely to augment the market growth during the assessment period.
By Distribution Channel
In the distribution channel segment of the global mascara market, the store-based channel is anticipated to dominate the market during the forecast period. The segment is expected to procure a market share of 50% of the global market. On the other hand, the non-store segment is anticipated to grow at a CAGR of 6.85% in the assessment timeframe owing to the growing application of e-shopping platforms to purchase the product.
By Product Type
In the product type segment of the global mascara market, the volumizing mascara is expected to witness a growth rate of 6.80% while amassing a market value of USD 4,000 million. The growing preference for thick lashes is expected to be a significant factor that is likely to strengthen the segment in the analysis timeframe.
In the category segment of the global mascara market, regular mascara is expected to dominate the market during the forecast period. The regular mascara segment is predicted to expand at a CAGR of 6.59% in the analysis timeframe.
Europe to Dominate the Market during the Forecast Period
As per the analysis by MRFR, the global market for mascara is expected to be dominated by Europe during the forecast period. The region is expected to procure a market value of USD 3,000 million, while procuring 30% of the global market share in the analysis timeframe. The growing demand for makeup products in the region can be attributed to the presence of Milan, which is the Fashion Hub of The World. In addition, the presence of established players in the region is predicted to be another cause that can steer the regional market during the assessment period.
North America to Expand at a Growth Rate of 6.53%
North America is anticipated to procure the second largest market share in the global market for mascara. The region is predicted to expand at a CAGR of 6.53% during the forecast period. The regional growth can be attributed to the presence of renowned key players making a notable contribution in developing the regional market. Besides, the region is another famous global hub of fashion that is likely to grow the market in the region during the review timeframe.
The growing demand for a variety of mascaras is expected to offer various opportunities to the key players, which is likely to enhance the competition in the industry. The players of the market are adopting different strategies such as; mergers, acquisitions, collaboration, and others to gain a superior position in the global market while also focusing on strengthening their product portfolio. The accelerating demand for waterproof eyeliners and others are predicted to accelerate the market competition in the coming time.
The report comprises a thorough evaluation of the global market mascaras. The report is in-depth research of the market that incorporates Porter’s Five-Factor analysis and supply chain analysis. A study of the market has been conducted for an in-depth understanding of the industry. Further, the report highlights the manufacturing technology and the applications that inform about market growth. On the basis of these details, the market is divided into various segments, which reports about the market share during the prediction period. The information on the market has been given on the basis of key players, competitive partners, and the revenue generated during the assessment tenure. The report also casts light on the established regional, global, and domestic players, which make the market highly competitive. The other market dynamics have also been evaluated across an array of developments, which provides a solid hold of the market in the assessment period. In addition, there has been a thorough evaluation of the impact of COVID-19 on market growth.
By Distribution Channel
By Product Type
Frequently Asked Questions (FAQ) :
mascara market size can touch USD 10,306.16 million by 2023.
mascara market can progress at 6.70% CAGR from 2018 to 2023.
High demand for eye cosmetics can drive the global mascara market.
Europe will exhibit an eye-popping growth rate of 6.61% in the global mascara market.
LOréal SA, Shiseido Co., Ltd, LVMH Moët Hennessy Louis Vuitton SE, Revlon, Inc., Coty, Inc., Avon Products, Inc., and The Estée Lauder Companies Inc. are major players of the global mascara market.