Cosmetic Pen and Pencil Market size is poised to cross USD 4.98 Billion by the end of 2031, growing at a CAGR of 8.1% during the forecast period, i.e., 2023-2031. In the year 2021, the industry size of cosmetic pen and pencil was over USD 2.3 Billion. The growth of the market can be attributed to the higher sales of cosmetic products owing to the rising need people of beauty products. For instance, the leading makeup brand Sephora made a sale worth around USD 5 billion in the year 2020, and in 2019, it generated the sale of nearly 6 billion dollars from beauty and personal care products.
In addition to these, factors that are believed to fuel the market growth of cosmetic pen and pencil include the higher count of women earning their own money and the rise in the average income of women. In past, lack of income sources has restricted them from spending on fancy makeup products but in recent times, women have progressed financially and are independent to buy anything they want. By 2025, it is predicted that the Indian cosmetic market would grow by approximately 25% to around USD 20 billion due to increased consumer knowledge of beauty products, growing personal grooming costs, shifting consumption patterns, and women's better purchasing power. Moreover, according to the U.S. Bureau of Labor Statistics, in 2021, the average weekly earnings of women was $912 which makes up for 83.1% of the average weekly income of men. Furthermore, the brand’s rising initiatives for sustainable products and packaging is likely to fuel the growth of the global cosmetic pen and pencil market.
Growth Drivers
Challenges
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
8.1% |
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Base Year Market Size (2021) |
USD 2.3 Billion |
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Forecast Year Market Size (2031) |
USD 4.98 Billion |
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Regional Scope |
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The global cosmetic pen and pencil market is segmented and analyzed for demand and supply by application into lip, eye, skin glossing pencil, clean-up pencil, concealer pencil, cheek balm, and nail. Out of all, the lip segment is anticipated to hold the largest market size of USD 1,694.7 million by the end of 2031. It is estimated to grow at a CAGR of 9.0% over the forecast period. Moreover, the lip segment collected a revenue of USD 726.8 million in 2021. The growth of the segment can be attributed to the rising usage of lip liner among population. The leading US based company Revlon Colorstay’s lip liner sale was valued at approximately USD 15 million.
The global cosmetic pen and pencil market is also segmented and analyzed for demand and supply by material type into the wood, plastic, and metal. Amongst these three segments, the plastic pharmacies segment is expected to garner the largest market size of USD 2,205.9 million at the end of 2031, by growing at a CAGR of 7.8% over the forecast period. Moreover, in 2021, the segment generated a revenue of USD 1052.3 Million. Plastic is the most preferable material for manufacturing cosmetic products Since plastic guarantees that liquids stay that way for a long time, prevents them from drying out, and has a strong grip. Moreover, in comparison to other materials, such as wood and metal, plastics have high retardancy for scratches. Around 8 billion rigid plastic items were produced in the US for the cosmetics sector. Additionally, there are 120 billion plastic packaging units used by the cosmetics sector each year in the form of bottles, tubes, and containers.
Our in-depth analysis of the global cosmetic pen and pencil market includes the following segments:
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By Product Type |
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By Material Type |
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By Application |
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By Consumer |
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Asia Pacific Market Forecast
The Asia Pacific cosmetic pen and pencil market, amongst the market in all the other regions, is projected to hold the largest market share of USD by the end of 2031 by growing . Moreover, the market in Asia Pacific garnered a revenue of USD 825.9 million in 2021. The growth of the market can be attributed majorly to the . In 2021, about 31% of people purchased cosmetics online in India. Furthermore, the surge in users of cosmetic products is expected to drive the cosmetic pen and pencil market in Asia Pacific. According to the International Trade Commission, in 2020, China has the largest market for cosmetic products and out of all the products, makeup products constituted 12% share.
October, 2021: A.W. Faber-Castell Cosmetics GmbH has launched airtight wood pencils. This line is made with sustainable packaging, it is vegan and contains shea butter, vitamin E and bisabolol. Their motto with this launch is to enjoy beauty without compromises.
August, 2022: Sulapac Oy. has announced its collaboration with a German beauty company, Schwan Cosmetics. This collaboration is to create a plant based cosmetic pencil and make it an alternative for plastic.
Author Credits: Anil Kumar, Ipsheeta Dash
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