Consumer demand for long and luscious lashes is expected to see the global eyelash enhancement market grow by over five percent a year for at least the next eight years.
According to a new report by Fact MR, global sales of eyelash enhancing agents (mainly serums) reached US$280 million last year and are expected to grow by nearly six percent this year, and by around the same amount every year until 2027.
This is solid increase over the just under four percent annual growth recorded in the market from 2013 to 2017.
According to Fact MR, major factors driving the expected growth include:
• Increasing prevalence of Blepharitis (a common inflammation of the eyelid that affects the eyelashes) and Madarsis (a condition that results in the loss of eyelashes and sometimes eyebrows).
• Growing effectiveness and broad varieties of products that enable strengthening of brittle and drab eyelashes.
• Multitude offerings of eyelashes enhancing agents in the form of sprays, serums, and gels, which enable ease of application
• Effective positioning of eyelash enhancing agents on shelves of supermarkets/hypermarkets, and the advent of ecommerce.
The research consultancy also noted that North America, which registered close to US$95 million in sales of eyelash enhancing agents in 2018, is expected to remain the biggest market largely due to a “high concentration of leading players in the region, and marked rise in adoption of cosmetic products among consumers”.
Despite the predicted growth in the market, Fact MR stresses that the market faces challenges including:
• High costs of drugs used for manufacturing eyelashes enhancing agents remains a crucial challenge for the market players. Expensive nature of eyelashes enhancing agents is further driving the shift of consumers towards their economical alternatives, namely artificial eyelashes and mascaras, which is likely to act as a barrier to market growth.
• Numerous after-effects caused by the use of eyelashes enhancing agents such as darkening of the skin, the accidental spread of enhancing agents on other body parts leading to undesirable hair growth, and itchy eyes are anticipated to cause a decline in their demand.
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