Cosmetic Pen and Pencil Market Analysis by Product Type (Sharpenable Wooden Pencil, Sharpenable Molded Pencil, and Mechanical Pencil); by Material Type (Wood, Plastic, and Metal); by Application (Lip, Eye, Skin Glossing Pencil, Clean-Up Pencil, Concealer Pencil, Cheek Balm, and Nail); and by Consumer (Prestige, and Mass) – Global Supply & Demand Analysis & Opportunity Outlook 2021-2031
Buy Now Report ID: 2537 | Published Date: Jan 13, 2023
The global cosmetic pen and pencil market is estimated to garner a revenue of USD 4,986.6 Million by the end of 2031 by growing at a CAGR of 8.1% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 2,323.3 Million in the year 2021. 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.
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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 2,323.3Million |
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Forecast Year Market Size (2031) |
USD 4,986.6 Million |
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Regional Scope |
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Growth Drivers
The ease of online shopping has driven the sales of cosmetics through various sites such as Nykaa, Sephora, and others. Moreover, these online cosmetics apps give features where customers can see what shade of lip color would suit them best. In 2020, the L’Oreal e-commerce sale was more than a quarter and continuously grew and reach nearly 29% in 2021.
Owing to matching up with aesthetic looks, the prevalence of cosmetic products among the population is rising. Cosmetics alter the appearance of the face or add color to it. Out of all the cosmetic products, makeup products hold nearly 16% share of total sales.
With the rising empowerment of women, more women are employed. They have a good income to focus on themselves and their beauty. In 2021, out of all the executives worldwide, 18% of the position is filled with women.
Growing makeup videos is pushing more viewers to buy cosmetic products and increasing their popularity. Nearly 75% of people have decided to buy a cosmetic product after watching the video.
Packaging of a cosmetic product is very prime factor of it sale. With the demand of eye catching, beautiful packaging people are also more aware about saving the nature. Approximately 72% share of population in the Asia, Europe and North America are more inclined towards environment friendly packaging.
Challenges
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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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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Anil Kumar, Ipsheeta Dash
Ans: Higher demand of cosmetic products, increasing online sales, company’s opting for sustainable packaging, empowered women and increasing makeup content on social media are few factors to propel the market growth.
Ans: The market is anticipated to attain a CAGR of 8.1% over the forecast period, i.e., 2022 – 2031.
Ans: Fake products manufacturing, increasing skin problems, high end products inaccessible to low income people are few factors likely to hamper the market growth.
Ans: The market in Asia Pacific is projected to hold the largest market share of USD 1,942.8 million by the end of 2031 and provide more business opportunities in the future. It is expected to grow at a highest CAGR of 9.1% over the forecast period.
Ans: The major players in the market are Confalonieri Matite s.r.l, L'Oréal Paris, LVMH, Barry M, Wycon SPA, Percassi, Pixi - Sjovik Ltd., KOSÉ Corporation, Faber-Castell Cosmetics GmbH, Clarins and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, material type, application, consumer and by region.
Ans: The lip segment is anticipated to garner the largest market size of USD 1,694.7 million by the end of 2031 and display significant growth opportunities. It is expected to grow at a CAGR of 9.0% over the forecast period.
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