Research Nester has released a report titled “Cosmetic Pen and Pencil Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global optical coatings market in terms of market segmentation by type, material type, product type, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global cosmetic pen and pencil market is segmented by type into luxury, premium, economical and low, out of which, the economical segment held the largest market share of 42.66% in the year 2019. The segment is further anticipated to cross a value of USD 6672.6 million by the end of 2028 from a value of USD 2869.1 million in the year 2019 by registering the highest CAGR of 9.91% during the forecast period, i.e. 2020-2028. Additionally, the segment is anticipated to grow by 2.1x during the forecast period and gain an incremental $ opportunity of USD 263.4 million in the year 2020 as compared to the previous year.
The global cosmetic pen and pencil market is anticipated to achieve a CAGR of 9.21% across the globe over the forecast period. The market is further expected to expand by 2.02x and reach a value of USD 14753.8 million by the end of 2028 from a value of USD 6725.0 million in the year 2019 and further gain an incremental $ opportunity of USD 568.4 million in the year 2020 as compared to the previous year. On the other hand, the market is anticipated to gain an absolute $ opportunity of USD 7460.4 million during the forecast period.
Regionally, the global cosmetic pen and pencil market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in Asia Pacific is anticipated to cross a value of USD 6484.3 million by the end of 2028 from a value of USD 2616.0 million in the year 2019 by to registering the highest CAGR of 10.66% during the forecast period. The market in the region held the largest market share of 38.90% in the year 2019 is expected to gain an incremental $ opportunity of USD 268.5 million in the year 2020 as compared to the previous year, along with an absolute $ opportunity of USD 3599.8 million during the forecast period.
Growing Demand for Cosmetic Products Amongst the Millennials
Backed by the increasing millennial population around the globe, who are the most influential group of people, the impact of their influence can be felt massively in the society. Rising disposable income, growing number of working populations, along with the changing lifestyle of the individuals are some of the factors that are contributing towards the greater adoption of cosmetic products amongst the individuals, and further driving the need for innovative and quality cosmetic products amongst the millennial generation. With such an opportunity, the brands and marketers are increasingly competing in the market to develop advanced cosmetic products. Moreover, demand for natural, organic and eco-friendly cosmetics products along with the increasing working women population are some of the factors anticipated to drive the growth of the global cosmetic pen and pencil market.
However, stringent rules and regulations for manufacturing of cosmetic pen and pencils, along with the regulations for recycling of the raw materials used in the manufacturing of cosmetic products and the availability of counterfeit products are some of the factors anticipated to limit the growth of the global cosmetic pen and pencil market.
This report also provides the existing competitive scenario of some of the key players of the global cosmetic pen and pencil market, which includes company profiling of The Clarins Group, Knowlton Development Corporation (KDC/ONE Corporation), A.W. Faber-Castell Cosmetics GmbH, Schwan-Stabilo Cosmetics GmbH, Columbia Cosmetics Manufacturing Inc., Confalonieri Matite S.R.L., HCT Group, Tarte Cosmetics Inc., Kendo Holdings and Intercos Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cosmetic pen and pencil market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.