Cosmetic Pen and Pencil Market Trends

Growth Drivers

• Higher Sales of Cosmetic Products through E-Commerce
• 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.
• Rise in the Number of People Using Makeup Products
• 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.
• Rising Share of Employed and Empowered Women
• 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.
• Surge in Makeup Tutorial Videos over Social Media
• 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.
• Demand of Conscious and Sustainable Packaging
• 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

• Growing Concern for Fake Beauty Products Sold by Fake Retailers - All cosmetic products including liners, foundation, and concealers can easily be duped. By copying a company's branding and designs, counterfeiters can sell their fake goods quite successfully online by blending them with the company's online product ratings. Fake retailers are selling fake products at low prices. The chemical formulation of these products is unknown and might cause serious skin problems.
• Low-Income People Cannot Access High-End Products
• Rising Skin Problems, such as, Allergies, Acne, Itching Hindering the Market Growth