India Eyeliner Market Outlook, Analysis, Forecast Report 2023-2030
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Eyeliner Market size at USD 345.40 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India Eyeliner Market size to expand at a CAGR of 2.70% reaching a value of USD 407.73 million by 2030. The increasing adoption of cosmetics by males and the strong emphasis on eye makeup as a daily grooming practice, especially among female customers, are significant growth factors of India eyeliner market. The growing availability of various goods through online sales platforms and the introduction of new products, such waterproof and smudge-proof eyeliners, are also expected to propel the growth of the eyeliner market in India.
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Opportunity – Growing Popularity of Beauty Stores and Parlors
Beauty stores hold the largest share of India Eyeliner Market by distribution channel. These stores offer a wide range of products from different brands under one roof, as well as personal assistance in choosing the product according to the requirement and budget. However, the online retail segment is estimated to register a high CAGR during the forecast period. The growth of the segment is mainly attributed to the growing popularity of online platforms, such as Nykaa, Amazon.in, and Flipkart.
Impact of Escalating Geopolitical Tensions on India Eyeliner Market
Escalating geopolitical tensions impacts India Eyeliner Market in several ways. These disputes and tensions immediately cause supply chain disruptions, which impact raw material availability and raise product prices or cause shortages in the market. Furthermore, because of the uncertain economy, geopolitical conflicts also affect consumers' purchasing ability. Customers may decide to spend less on discretionary items like eyeliners as a result of this. Geopolitical concerns may also influence the sales of foreign companies by encouraging people to favor domestic brands.
Waterproof Formulation Segment to Grow at Fastest CAGR
The waterproof formulation accounts for the highest market share of India Eyeline Market by formulation, owing to the hot and humid climate of India which leads to sweating in makeup users. Waterproof eyeliner prevents smudging and fading in both summer and monsoon seasons and is long-lasting, which attracts users and drives its market growth. However, the natural/organic is projected to witness a high growth rate during the forecast period. These formulations are made of organic ingredients and are free from iron oxides and mica.
South India Leads India Eyeliner Market
South India dominates India eyeliner market owing to its diverse consumer base and high purchasing power of consumers. However, North India is projected to grow at a high CAGR during the forecast period. The increasing population and rapid urbanization directly contribute to the growing demand for cosmetics, including eyeliner, in the region. Furthermore, the growing influence of social media platforms, such as Instagram and YouTube, is also promoting the use of cosmetic products.
Competitive Landscape
India Eyeliner Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Amway India, L'Oréal Group, Avon Products, Lakme, Revlon Inc., Unilever PLC, Lotus Herbal, Swiss Beauty, A.G. Industries, and Kwality Color Cosmetics.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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