According to the report by Expert Market Research (EMR), the global eye shadow market size reached a value of USD 3.47 billion in 2023. Aided by the rising beauty consciousness and innovation in formulations, the market is projected to further grow at a CAGR of 6.5% between 2024 and 2032 to reach a value of USD 6.13 billion by 2032.
Eye shadow is a cosmetic product applied to the eyelids and under the eyebrows to enhance the eyes’ appearance, define their shape, and add depth and dimension to the overall makeup look. Available in various formulations, textures, and finishes, including powder, cream, liquid, gel, matte, shimmer, satin, and metallic, eye shadow offers versatility and versatility in achieving a wide range of makeup looks, from subtle and natural to bold and dramatic.
With increasing beauty consciousness and social media influence across the world, consumers are increasingly experimenting with makeup products, including eye shadow, to express their individuality and enhance their appearance. The popularity of beauty influencers, makeup tutorials, and online beauty communities has spurred demand for eye shadow palettes, colour cosmetics, and makeup accessories, driving the eye shadow market growth.
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Beauty brands and cosmetic manufacturers are innovating with eye shadow formulations, textures, and finishes to cater to diverse consumer preferences and trends. Advanced formulas with long-lasting, crease-resistant, and smudge-proof properties offer improved performance and wearability, while innovative textures such as creamy mattes, foil metallics, and multidimensional glitters provide endless creative possibilities for makeup enthusiasts.
As per the eye shadow market analysis, collaborations between beauty brands and celebrity makeup artists, influencers, and celebrities have become a prominent trend in the eye shadow market. Celebrity-endorsed collections, limited-edition collaborations, and influencer-curated palettes drive excitement, buzz, and consumer engagement, generating sales and brand loyalty among fans and followers.
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As per the eye shadow market outlook, the trend towards customization and personalisation in beauty products is extending to eye shadow, with brands offering customizable palettes, mix-and-match shades, and build-your-own kits. Customisable eye shadow options allow consumers to tailor their makeup looks to their unique preferences, skin tone, and style, fostering creativity, self-expression, and consumer engagement.
Multifunctional eye shadow formulations that offer additional benefits beyond colour payoff are gaining popularity among consumers seeking versatile and time-saving makeup products, propelling the eye shadow market expansion. Brands are introducing hybrid formulations that combine eye shadow with skincare ingredients such as antioxidants, vitamins, and moisturisers, providing nourishing and protective benefits to the delicate skin around the eyes while delivering a vibrant colour payoff.
With growing consumer awareness of environmental sustainability and ingredient transparency, there is a rising demand for clean, eco-friendly, and sustainable eye shadow products. Beauty brands in the eye shadow market are reformulating their eye shadow formulas to exclude harmful ingredients such as parabens, phthalates, and sulphates while incorporating natural, organic, and responsibly sourced ingredients. Sustainable packaging, refillable containers, and recycling initiatives further enhance the eco-friendly credentials of eye shadow products, appealing to environmentally conscious consumers.
North America occupies a significant eye shadow market share, due to a mature beauty sector, strong consumer spending on cosmetics, and a vibrant makeup culture. Europe is also a significant market for eye shadow, with a focus on premium and luxury beauty brands, innovative formulations, and trend-driven colour cosmetics. Asia-Pacific is poised for rapid growth, fuelled by increasing urbanisation, rising disposable incomes, and growing demand for makeup products among millennial and Gen Z consumers.
Market Segmentation
The market can be divided based on form, price range, distribution channel, and region.
Market Breakup by Form
- Liquid
- Powder
- Others
Market Breakup by Price Range
- Premium
- Mass
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Departmental Stores
- Speciality Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global eye shadow market. Some of the major players explored in the report by Expert Market Research are as follows:
- Revlon Consumer Products LLC
- Chanel Limited
- The Estee Lauder Companies Inc.
- L’Oreal Group
- Sheever Cosmetics Ulc (Inglot)
- Amway Corporation
- Shiseido Company, Limited
- LA BOUCHE ROUGE
- AVEDA CORP.
- Clarins Group
- Others
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