The eyelash serum market comprises products that aim to condition and nourish eyelashes to promote hair growth and strengthen existing eyelashes. Eyelash serums contain ingredients like peptides, vitamins, and natural extracts that stimulate hair follicles and promote the natural growth cycle of eyelashes.
The global eyelash serum market is estimated to be valued at US$ 936.3 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the eyelash serum market are Grande Cosmetics LLC., L'OréalS.A., Skin Research Laboratories, Topix Pharmaceuticals, Inc., e.l.f. Cosmetics, Inc., Shiseido Co.,Ltd., Pacifica Beauty LLC, Athena Cosmetics, Inc., rapidlash, Ardell International Inc., JB LASHES, Replenix, LiLash, Rodan Fields, Obagi Cosmeceuticals LLC., and Estée Lauder Inc. The growing demand for natural cosmetic products is fueling the growth of the eyelash serum market. Several companies are expanding their business footprint in emerging regions like Asia Pacific and Latin America to tap the growth opportunities.
Market Key Trends
One of the key Eyelash Serum Market Trends gaining traction in the eyelash serum market is the increasing demand for natural and organic formulations. Consumers are wary of products containing harsh chemicals and preservatives and prefer ingredients sourced from natural origins. Many eyelash serum brands have launched organic and natural ranges containing plant-based peptides, vitamins, amino acids, and other herbal ingredients that condition lashes without harming the eye area. This shifting preference towards clean-label products is expected to further propel the sales of natural eyelash serums in the coming years.
Porter's Analysis
Threat of new entrants: The eyelash serum market faces moderate threat as new manufacturers can easily enter the market with minimal production costs. However, established brands have strong brand recognition and loyalty which poses a challenge for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of multiple brands. However, switching costs are low as buyers can easily find substitutes.
Bargaining power of suppliers: Raw material suppliers have moderate bargaining power due to availability of substitutes and suppliers operating at a global level.
Threat of new substitutes: Threat from substitutes is high as alternatives like eyelash extensions, cosmetic procedures are available.
Competitive rivalry: The market has strong competition among major players to gain market share through product differentiation, new offerings and aggressive marketing.
Geographical Regions
North America accounts for the largest share in the eyelash serum market by value due to high product awareness and increased spending on personal care products. Within North America, the United States holds a major market share as presence of leading brands and online availability of products drives market growth.
Asia Pacific is expected to be the fastest growing region during the forecast period amid rising working women population, expanding middle class and growing influence of western cosmetic trends in countries like China and India. Rapid urbanization, improved purchasing power and increasing social media penetration are also supporting market growth in Asia Pacific region.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)