Most Manufacturing of False Eyelashes to Be Done from Synthetic Hair, Opines Fact.MR
Published : 07 Jun 2021 Industry: Consumer Goods
Asia Pacific is one the most important markets for false eyelashes, owing to increasing adoption of modern lifestyle and fast-growing fashion industry in the region. In 2020, countries such as China, Japan, Korea, and India accounted for more than 45% of the market in Asia.
Korean cosmetics have had a unique impact throughout Asia. According to Fact.MR’s analysis, Korean women prefer bold makeup, and over 58% women do make up regularly using false eyelashes. China accounts for the highest market share of false eyelashes in Asia Pacific, and is expected to reach US$ 50 Mn by 2031.
As per a revised report published by Fact.MR, the global false eyelashes market is forecast to exceed a valuation of US$ 1.3 Bn in 2021, and is expected to expand at a CAGR of close to 7% from 2021 to 2031.
Key Takeaways from Market Study
- AsiaPacific Excluding Japan (APEJ) is expected to emerge as the largest market for false eyelashes. APEJ is projected to create an incremental opportunity of over US$ 150 million during 2021-2031.
- The market in is likely to be the second-largest market during the forecast period. Availability of various forms of false eyelashes is resulting in growing demand among consumers who areadopting unique fashion trends.
- Regular lashes are likely to be one of the highly preferred false eyelashes product. Towards the end of 2031, regular lashes are estimated to reach close to US$ 710 million revenue. Meanwhile, individual lashes are also expected to experience robust growth during 2021-2031.
- Synthetic hair is expected to be one of the widely used raw material in the production of false eyelashes. Synthetic hair, as a raw material, is anticipated to show impressive growth, creating more than US$ 350 million incremental opportunity from 2021 to 2031.
- Sales of false eyelashes are likely to be high through health & beauty retailers. Towards 2031-end, health & beauty retailers are projected to exceed US$ 800 million value. Moreover, the segment is estimated to gain more than one-third of revenue share by 2021-end.
- With the availability of advanced technology, machine-made false eyelashes are expected to gain traction and hold more than half revenue share by 2021-end. Meanwhile, hand-made false eyelashes will also witness steady growth throughout the forecast period.
"The big and bold eye trend in the cosmetic world is surging demand for false eyelashes", says a Fact.MR analyst.
The market is highly consolidated and manufacturers are trying to maintain long-term dominance in this space. Key manufacturers, for instance, are constantly involved in developing new product lines to enter new application areas. Moreover, their thirst for market dominance is high owing to a rapidly growing market with higher potential for the coming years.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the false eyelashes market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the basis of product (regular lashes, coloured lashes, individual lashes, decorative lashes, accent lashes, and others), raw material (human hair, synthetic hair, fur, feathers, metal, and others), sales channel (supermarkets, hypermarkets, health and beauty retailers, e-Commerce, and others), and technology (handmade, semi-handmade, machine-made) and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About the Retail & Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Retail & Consumer Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Retail industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant - Retail & Consumer Goods