Mascara Market to Reach $14.1 billion, Globally, by 2032 at 8.3% CAGR: Allied Market Research

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Apr 18, 2024, 05:02 ET

The makeup tools market is driven by changes in consumer preferences, advancements in technology, and innovations in the beauty industry. Moreover, the rapid technological advancement in the cosmetic industry has led to a change in dynamics and made it easier for both customers and organizers to organize the market smoothly.

PORTLAND, Ore., April 18, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Mascara Market by Category (Regular and Waterproof or Water-resistant), Product Type (Volumizing, Lengthening, and Curling), and Distribution Channel (Offline Channel and E-Commerce): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "mascara market" was valued at $6.4 billion in 2022, and is estimated to reach $14.1 billion by 2032, growing at a CAGR of 8.3% from 2023 to 2032.

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Mascara is a cosmetic tool, designed to enhance the appearance of eyelashes by darkening, thickening, and extending them. Mascara comes in a tube with an applicator wand and is made up of a mixture of pigments, waxes, oils, and polymers. Together, these elements cover the lashes and add definition, color, and volume. The mascara sticks to the lashes, giving the appearance of more definition and intensity. A mainstay of beauty regimens, mascara is skilled at enhancing the eyes and creating a variety of styles, from delicate to dramatic. It comes in a variety of formulations that satisfy the need for lashes to be longer and more volumized.

Prime determinants of growth

The growth of the mascara industry is majorly driven by many factors. The integration of technology into cosmetic tools, with features such as LED lighting and smart functionalities enhancing user experience. Moreover, there is a growing demand for sustainable and eco-friendly materials in mascara, reflecting consumer's increasing environmental consciousness. Personalization and customization are also gaining traction, with brands offering options for engraving and interchangeable components.

Furthermore, inclusivity in shade ranges and the popularity of multifunctional mascara are indicative of the market's evolving dynamics. Innovations in application techniques, influenced by social media platforms and beauty influencers, further contribute to the changing mascara market.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size In 2022	$6.4 Billion
Market Size In 2032	$14.1 Billion
CAGR	8.3 %
No. Of Pages In Report	290
Segments Covered	Category, Product Type, Distribution Channel, And Region.
Drivers	Rise In Beauty Trends And Fashion Influences Increased Technological Advancements And Product Innovation
Opportunity	Rise In Interest In Sustainable Packaging
Restraints	Allergies And Sensitivities To Ingredients Competition From Eyelash Extensions And False Lashes

The waterproof or water-resistant segment to maintain its leadership status throughout the forecast period

By category, the regular segment held the highest market share in 2022, accounting for more than three-fifths of the mascara market revenue and is estimated to maintain its leadership status throughout the forecast period. The affordability of regular mascaras makes it accessible to a broad range of consumers, appealing to those on tighter budgets. Moreover, these products are widely available across various retail channels, from drugstores to online platforms, further expanding their reach. In addition, mascara is a staple product in many makeup routines, leading to frequent purchases and higher sales volume for regular mascaras.

Despite lacking premium attributes, regular mascaras offer functional benefits such as lengthening and volumizing lashes, which resonate with a broad audience. Furthermore, many consumers exhibit strong brand loyalty to regular mascara brands that consistently deliver satisfactory results at an affordable price point. Collectively, the combination of affordability, accessibility, functionality, and consumer preferences contributes to the regular segment's dominance in the mascara market.

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The volumizing segment to maintain its leadership status throughout the forecast period

By product type, the volumizing segment held the highest market share in 2022, accounting for more than half of the mascara market revenue and is estimated to maintain its leadership status throughout the forecast period. Volumizing mascaras are designed to provide consumers with fuller, thicker-looking lashes, which aligns with popular beauty trends and preferences. Many consumers desire the appearance of voluminous lashes as they can enhance the overall look and impact of their eyes.

Moreover, volumizing mascaras often offer noticeable results with just a few coats, making them appealing for those seeking instant gratification and dramatic effects. Furthermore, marketing efforts by cosmetics companies often emphasize the volumizing benefits of their mascaras, leading to increased consumer awareness and demand for products in this segment. Consequently, volumizing mascaras tend to occupy a prominent position within the mascara market, capturing the attention and loyalty of a significant portion of consumers.

The e-commerce segment to maintain its leadership status throughout the forecast period

By distribution channel, the offline channel segment held the highest market share in 2022, accounting for nearly three-fifth of the mascara market revenue and is estimated to maintain its leadership status throughout the forecast period. The traditional brick-and-mortar retail outlets such as drugstores, supermarkets, and specialty beauty stores have long been the primary destinations for consumers to purchase cosmetics, including mascara. These physical stores offer customers the opportunity to see, touch, and test products before making a purchase, which can be particularly important for cosmetics where texture, color, and applicator design play a significant role in consumer choice. Moreover, many consumers prefer the convenience of shopping in person, as they can receive immediate assistance from sales associates and avoid shipping fees or delays associated with online purchases.

Furthermore, offline channels often benefit from established brand presence and loyalty, with prominent placement and marketing strategies driving visibility and sales. While online channels have grown in importance, particularly in recent years, the offline channel segment continues to dominate due to its accessibility, convenience, and established consumer habits.

The Latin America to maintain its leadership status throughout the forecast period

By region, the Asia-Pacific held the highest market share in 2022, accounting for more than one-third of the mascara market revenue and is estimated to maintain its leadership status throughout the forecast period. Its large and rapidly growing population, including major countries such as China and India, creates substantial demand for cosmetics such as mascara. Moreover, the region's rapid urbanization and increasing disposable incomes fuel the desire for beauty products, contributing to robust sales. The influence of popular beauty trends like K-Beauty and J-Beauty further drives demand for innovative mascara products.

In addition, the expansion of international cosmetics brands in the region, coupled with the growing popularity of e-commerce platforms, provides consumers with access to a wide range of mascara options. Altogether, these factors converge to establish the Asia-Pacific region as a dominant force in the global mascara market.

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Leading Market Players: -

L'Oréal Group
Estée Lauder Companies
Coty Inc
Shiseido Company, Limited
The Procter & Gamble Company (P&G)
Revlon, Inc
Chanel S.A
LVMH Moët Hennessy Louis Vuitton SE
Kose Corporation.

The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth.

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