The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including False Eyelashes Market.
It was estimated prior to this unanticipated outbreak False Eyelashes Market will reach CAGR of 5.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
False Eyelashes Market Insights
False Eyelashes Market is likely to witness a CAGR of 5.5% during the forecast period. The ability of false eyelashes to add volume to one’s natural eyelashes and to transform the appearance impact in a beautiful manner when chosen correctly, and the rapidly growing popularity for customized and unique looks among people are the major factors driving the growth of the false eyelashes market during the forecast period.
Market Share Analysis
False Eyelashes Market Share: By Product Type
Based on the product type, the market is segmented as strips, cluster/accent, individual, and others. Strip false eyelashes are estimated to account for the major share of the market. The growth is attributed to their exceptional popularity among people, owing to their easy and quick wearing patterns. These eyelashes are so user friendly that they do not require any professional help and are also available in various designs, making the entire lash line look so beautiful. Further, individual false eyelashes are estimated to witness significant growth rate in the next five years. These lashes are available in single as well as flared forms, giving a natural yet dramatic look to the consumer’s eyes. Unlike strip false eyelashes, this requires the help of an expert as each lash or cluster of lashes has to be applied individually.
False Eyelashes Market Share: By Constituent Type
Based on the constituent type, the market is segmented as natural and synthetic. Synthetic is estimated to hold the larger share of the market, being the leading segment in the upcoming years. These eyelashes are made up of rubber, polymers or acrylic material, and are shinier, glossier giving a more dramatic look. These lashes are available in a variety of thickness, curl, length, style, holding the curls in a proper manner, and are also inexpensive, resulting in being the dominant segment of the market. Further, the natural eyelashes segment is estimated to register a constant growth rate in during the forecast period, owing to their soft texture, making them similar to natural eyelashes and their easy convenience while using them on regular basis. These lashes are made from mink hair, human hair, sable hair, or silk, and are lightweight and flexible as compared to their counterparts.
False Eyelashes Market Share: By Distribution Channel Type
Based on the distribution channel type, the market is segmented as online, convenience stores, and hypermarkets & supermarkets. Convenience store held the largest share of the market in the year 2019, and includes drug stores, department stores, and specialty stores. Majority of false eyelashes users are very specific about what shape and material they want to have, hence they usually prefer buying them from stores rather than from online merchants, as they also get assistance from experts giving them best suited recommendations as per the consumer’s taste and an explanation of product’s application. On the contrary, online channel is estimated to be the fastest-growing segment over the forecast period, owing to their increasing popularity among consumers because of the convenience they offer. They also offer massive discounts in different occasions in a year, making the products attractive to the consumers, fueling the growth of the market in the next five years.
False Eyelashes Market Share: By Region
In terms of regions, North America is estimated to account for the major share of the market owing to the presence of a large number of manufacturers in the U.S. during the forecast period. Factors such as increasing influence of TV, film actors, and social media, and permanent eyelashes which can last for about two to three weeks, gaining popularity are expected to accelerate the product demand in the regional market during the forecast period. Furthermore, Asia-Pacific is estimated to be the fastest-growing region in the upcoming years, with China, India, South Korea, and Philippines being the major countries with increasing awareness regarding developing beauty trends and products in the regional market during the forecast period. Europe is also expected to offer substantial growth opportunities during the forecast period.
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