By type, the decorative lashes segment is projected to witness the highest CAGR of 7.7%, in revenue terms, during the forecast period.
WILMINGTON, DELAWARE, UNITED STATES, March 17, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “False Lashes Market,” The false lashes market size was valued at $1.3 billion in 2021, and is estimated to reach $2.4 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.
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False lashes are for people with short or thin eyelashes. They consist of synthetic or human hair and are used with magnetic strips or other adhesives to attach with the natural lashes. Lashes enhance the appearance and enhance beauty by increasing the thickness, curl, and length of your natural eyelashes. Eyelashes come in various sizes, colors, shapes, and fibers to suit every user’s needs. Some players produce custom eyelashes that can be altered and used according to customer preferences, allowing more flexibility in using the product.
Manufacturers are changing their product branding and advertising strategies to accelerate their sales across various countries. Innovative strategies such as new product launches with natural products, and innovative packaging have been adopted by manufacturing companies to increase sales of eye makeup products such as eyelashes and lashes extension. As cosmetics have become an integral part of lives, consumers, especially women, prefer to use products, which are handy and easy to use while traveling or attending social meetings. The use of natural raw material for manufacturing false lashes, which does not have any adverse effect on the eye, is a popular strategy of manufacturers to attract more customers. This also helps in increasing the revenue of companies operating in this industry. Collectively, all these strategies adopted by manufacturers drive the growth of the false lashes market industry.
Social media is very influential in both positive and negative ways. Social media connects people and also helps to communicate between consumers and businesses. It gives businesses a way to engage with customers. Before social media marketing, finding a targeted group of consumers was a difficult task for businesses and this took more effort as it is more costly, making it very difficult for startups to get in front of their target audience. The ongoing false lashes market trends are expected to create more opportunities for manufacturers in the upcoming years. Businesses are promoting their brands and products through social media. Through the advertisements & promotions of brands or products by celebrities, these brands can increase awareness and trust in their product. Consumers feel more comfortable with a brand if their products are promoted by a celebrity they admire or relate to. Now around 3.2 billion and more users across the globe, that is about more than 42% of the total present population, have a Facebook account. The increase in the penetration of the products in developing countries is expected to propel false lashes market demand in the upcoming years. The influence of social media and celebrity endorsement of false lashes is expected to create opportunities for manufacturers in the upcoming years.
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According to the market analysis, the false lashes market is segmented into type, raw material, distribution channel, and region. On the basis of type, the market is divided into colored lashes, regular lashes, decorative lashes, and others. On the basis of raw material, the market is classified into human hair, synthetic hair, feather, metal, and other. As per distribution channel, the market is categorized into e-commerce, offline retailers, malls & hypermarkets, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and rest of LAMEA).
By type, the regular lashes segment accounted for more than 41% of the market share, in terms of revenue, in 2021. Regular false lashes offer a way to enhance the eyes and create a more dramatic look. The beauty industry has been criticized for its lack of diversity and inclusivity, but regular false lashes offer an opportunity to cater to a wider range of skin tones and ethnicities. Brands that offer a range of styles and materials that suit a diverse range of consumers are expected to propel the growth of the market in the upcoming years.
By raw material, the human hair segment held the major false lashes market share and is expected to maintain its dominance during the forecast period. The demand for human hair extensions is rising owing to the natural hair presence of human hair extensions. With the rising awareness about natural beauty products, consumers are inclining towards human hair lashes made up of human hair which is expected to propel the growth of the market in the upcoming years.
By distribution channel, the malls and hypermarket segment led the market and accounted for more than 40% of the global false lashes market in 2021 and is expected to maintain its dominance during the forecast period. They offer customers a considerable advantage by making several false lashes brands available, providing discounts on particular brands, assisting consumers with sales, and allowing straightforward checkouts.
Region-wise, North America was the largest market in 2021 and had the highest market share of 39.6%. Companies operating in the North America false lashes market are offering innovative products to sustain in the competitive market. They are launching new products to expand their business operations across different countries in this region and increase their customer base. The increase in spending on cosmetics products is expected to propel the false lashes market growth in the upcoming year.
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Some of the key players profiled in the false lashes market analysis include Gianni Lashes, Velour Beauty, Inc., Tarte, Inc., Plumage Lash Factory, HB USA Holdings, Inc., Qingdao IMI lashes Co., Ltd., PT Bio Takara, Esqido Ltd., Lilly Lashes, LLC, KISS Products, Inc., PT Bintang Mas Triyasa, Static Nails, Dolvlashes, PT. Royal Korindah, Tatti Lashes, Levi Lashes, Momi Eyelash Co., Ltd, Xtreme Lashes, LLC., Elegant Lashes by Katie, and House of Lashes.
Key findings of the study
By type, the decorative lashes segment is projected to witness the highest CAGR of 7.7%, in revenue terms, during the forecast period.
By raw material, the feather segment is projected to witness the highest CAGR of 7.1%, in revenue terms, during the forecast period.
By distribution channel, the e-commerce segment is projected to witness the highest CAGR of 7.7%, in revenue terms, during the forecast period.
By region, Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 8.2% from 2022 to 2031.
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Article originally published on www.einpresswire.com as Rising Valuation to Reach $2.4 billion by 2031, Fueled by Strong CAGR of 6.5%
