Eye Make-Up Preparations Market

The market for eye make-up preparations is expected to see continued growth from 2022 to 2030, with China leading in consumption and production, the United States in imports, and France in exports. There has been a steady increase in consumption, production, imports, and exports over the past decade, with fluctuations in trend patterns. Overall, the global market has shown resilience and growth, despite varying growth rates for different countries.

Market Forecast

Driven by increasing demand for eye make-up preparations worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market volume to 364K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.8% for the period from 2022 to 2030, which is projected to bring the market value to $16.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Eye Make-Up Preparations

In 2022, consumption of eye make-up preparations was finally on the rise to reach 254K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs at 294K tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global eye make-up preparations market value expanded remarkably to $9.7B in 2022, picking up by 7.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the peak level at $12.4B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

China (52K tons) constituted the country with the largest volume of eye make-up preparations consumption, comprising approx. 21% of total volume. Moreover, eye make-up preparations consumption in China exceeded the figures recorded by the second-largest consumer, India (22K tons), twofold. The United States (19K tons) ranked third in terms of total consumption with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +7.2%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+8.1% per year) and the United States (+5.3% per year).

In value terms, the largest eye make-up preparations markets worldwide were Japan ($1.7B), China ($956M) and the United States ($874M), with a combined 36% share of the global market. Brazil, Russia, South Korea, Canada, the UK, Turkey, India, Thailand, the Philippines and Pakistan lagged somewhat behind, together comprising a further 29%.

In terms of the main consuming countries, the Philippines, with a CAGR of +16.0%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of eye make-up preparations per capita consumption in 2022 were the UK (154 kg per 1000 persons), Canada (134 kg per 1000 persons) and South Korea (113 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the Philippines (with a CAGR of +10.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Eye Make-Up Preparations

In 2022, production of eye make-up preparations was finally on the rise to reach 239K tons after two years of decline. Over the period under review, the total production indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -18.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 34% against the previous year. Over the period under review, global production hit record highs at 295K tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, eye make-up preparations production expanded markedly to $8.6B in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -24.1% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 19%. As a result, production reached the peak level of $11.3B. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (80K tons) remains the largest eye make-up preparations producing country worldwide, accounting for 33% of total volume. Moreover, eye make-up preparations production in China exceeded the figures recorded by the second-largest producer, India (20K tons), fourfold. Italy (12K tons) ranked third in terms of total production with a 5.2% share.

In China, eye make-up preparations production increased at an average annual rate of +7.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+7.8% per year) and Italy (+2.2% per year).

Imports

World Imports of Eye Make-Up Preparations

In 2022, purchases abroad of eye make-up preparations increased by 1.4% to 117K tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 21%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, eye make-up preparations imports stood at $4.9B in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Over the period under review, global imports reached the maximum at $5.4B in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, the United States (21K tons), distantly followed by the UK (11K tons), Germany (7.7K tons) and France (7.5K tons) were the main importers of eye make-up preparations, together achieving 40% of total imports. The Netherlands (4.5K tons), Poland (4.1K tons), Japan (3.2K tons), Malaysia (3.1K tons), Canada (2.9K tons), Spain (2.8K tons), Italy (2.8K tons), Australia (2.5K tons) and Russia (2.4K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Netherlands (with a CAGR of +10.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($897M) constitutes the largest market for imported eye make-up preparations worldwide, comprising 18% of global imports. The second position in the ranking was taken by France ($344M), with a 7% share of global imports. It was followed by Germany, with a 6% share.

In the United States, eye make-up preparations imports expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: France (+6.8% per year) and Germany (+2.0% per year).

Import Prices By Country

In 2022, the average eye make-up preparations import price amounted to $42,300 per ton, approximately equating the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7.2% against the previous year. As a result, import price attained the peak level of $48,719 per ton. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($72,728 per ton), while Malaysia ($6,863 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Eye Make-Up Preparations

In 2022, overseas shipments of eye make-up preparations increased by 0.6% to 103K tons, rising for the second consecutive year after two years of decline. Overall, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.9% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 19% against the previous year. Over the period under review, the global exports attained the peak figure at 113K tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, eye make-up preparations exports reduced modestly to $4.7B in 2022. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. The global exports peaked at $5.1B in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports By Country

China was the largest exporting country with an export of around 28K tons, which finished at 27% of total exports. Italy (12K tons) held the second position in the ranking, followed by France (7.7K tons), Germany (7.1K tons), the United States (6.3K tons), the Netherlands (5.3K tons) and Poland (5K tons). All these countries together took near 42% share of total exports. The following exporters - the UK (3.6K tons), South Korea (2.6K tons), the Dominican Republic (1.9K tons), Taiwan (Chinese) (1.9K tons), Singapore (1.8K tons) and Mexico (1.7K tons) - together made up 13% of total exports.

Exports from China increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, the Netherlands (+26.1%), South Korea (+14.5%), Mexico (+12.2%), the Dominican Republic (+6.4%), Singapore (+5.5%), France (+5.2%), Poland (+4.5%), Italy (+3.8%), Germany (+3.7%), the UK (+1.8%) and Taiwan (Chinese) (+1.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.1% from 2012-2022. The United States experienced a relatively flat trend pattern. China (+4.7 p.p.), the Netherlands (+4.4 p.p.) and South Korea (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while the United States saw its share reduced by -3.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest eye make-up preparations supplying countries worldwide were France ($608M), China ($552M) and Germany ($544M), together comprising 36% of global exports. The United States, Italy, South Korea, Poland, Singapore, the UK, the Netherlands, Mexico, Taiwan (Chinese) and the Dominican Republic lagged somewhat behind, together comprising a further 40%.

South Korea, with a CAGR of +21.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average eye make-up preparations export price stood at $45,889 per ton in 2022, reducing by -1.7% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 3.4%. The global export price peaked at $51,478 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($85,353 per ton), while the Dominican Republic ($17,817 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform