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I need an assessment of how large the market is for false eyelashes (often referred to as adhesive eyelashes) within the beauty industry in the US. I need growth rate as well, such as, it is estimated the US market for false eyelashes will rise X percent by 2020.
Hi there! Thanks for asking Wonder for an assessment of the market size and growth rate for false eyelashes (or adhesive eyelashes) within the US beauty industry. The short version is that the US market for false eyelashes was an estimated $170 million in 2016 and will rise by 6.62 percent CAGR from 2016 to 2022. The market is forecast to hit $250.20 million by 2022. Thus, we can estimate that the current US market value for false eyelashes is approximately $181.25 million. Below you will find a brief explanation of our methodology and a deep dive of our findings. Let's dig in!
METHODOLOGY
After scouring through several academic databases, reputable corporate websites, and trusted media sites, we have managed to zero in on hard statistics for the false eyelash market in the US. While a significant amount of information was behind a paywall (for purchase), we were able to provide a data-rich, comprehensive look at the industry. As a 2017 market figure was not publicly available, we synthesized relevant data points and a basic calculation to arrive at our estimate. (For accuracy, we confirmed our figures with the online tool, Omni Calculator.)
BACKGROUND
We will lead with a quote from The Washington Post's Robin Givhan that sets the scene for our research and lends a little context: "Whether it’s celebrities on the red carpet, TV anchors, a former first lady or the barista at your local Starbucks, eyes are rimmed with thick dark fringe. In this era, women of all ages have eyelashes so long and lush that a sideways glance is akin to a monologue on femininity, personal power and the irresistible pleasures of Sally’s Beauty Supply."
A 2017 Market Research Future report defines false eyelashes as those "worn to define the eyes and to thicken the upper eyelashes". The artificial lashes are self-applied with specialized glue and are broadly referred to as "individual lashes" and "strip lashes". They may be manufactured with human hair, synthetic hair, fur, or even feathers. The lashes are segmented by various product styles, which are defined as flare, full volume, long, short, and natural. Furthermore, false lashes are segmented according to production methods such as handmade, semi-handmade, and machine-made.
MARKET SIZE AND GROWTH
The Denver Post states that US sales from the false eyelash market have grown by 75 percent since 2012. Fast-forward five years, and the industry has ballooned into quite an empire. According to ABNewswire, the US market for false eyelashes was an estimated $170 million in 2016 and will rise by 6.62 percent CAGR from 2016 to 2022. The market is projected to hit $250.20 million by 2022. If we apply that growth rate to the 2016 value, we can estimate that the current US market value for false eyelashes is approximately $181.25 million. (170*1.0662 = $181.25)
What are the market drivers causing this growth?
1. Market Research Future (MRFR) claims that growing consumer demand for unique and "innovative cosmetic products to enhance the overall appearance" is one of biggest market dynamics.
2. Technological advancements in the fashion and beauty industries made these innovations possible in adding excitement and variety to existing product lines, according to MRFR.
3. MRFR also suspects that an increased level of "beauty consciousness" among women is another fuel for market growth at the consumer level.
4. Another reason for the surge in sales is that many consumers are turning into “heavy users” and wearing the lashes more frequently. The Denver Post quotes A.I.I. Beauty Marketing VP, Marwan Zreik: "'Some customers don’t leave home without lashes on'".
5. In typical fashion, social media and reality TV and have brought the product from the big screen to "everyday life", according to NPR. Celebrities like Kim Kardashian and Adele are turning false eyelashes into a mainstream beauty staple.
6. NPR also claims that how-to clips and tutorials on YouTube have "demystified" application, making it less confusing and more manageable for the average consumer.
DISTRIBUTION CHANNEL
The ABNewswire report on the 2017 US false eyelash market is a tremendous resource that provides "analysis, growth, trends and opportunities" for the current and future market of false eyelashes in the US. Unfortunately, the bulk of the report is behind a paywall, but the abstract does provide us with some applicable nuggets of information. The study shows that this industry is segmented by the following distribution channels:
- Drugstore
- Supermarket
- Specialist retailers
- E-commerce
This Statista report breaks down US false eyelash sales by channel. Admittedly, this information is a bit dated (from 2014). Since we were unable to find more recent data, we felt that this offered a representative breakdown of the industry, even though these segmented sales figures have certainly risen with overall market. On average, drugstores claimed $46 million in sales, supermarkets claimed $6.17 million, and multi-channel retailers claimed $95.5 million in sales in 2014.
Market Research Future purports that e-commerce leads the pack. The report abstract states that the growth is likely due to tech advancements in the online marketplace in addition to the convenience of shopping and ordering. Sadly, as the information is only available through purchase, we are not able to provide a USD value to represent this segment. However, we found a graphical representation that shows "false eyelash" search engine activity that may give some insight into the thriving e-commerce platform. Google Trends displays search interest "relative to the highest point on the chart for the given region and time".
On NPR, Gale Business Insights research shows that April 2016 drugstore sales of false lashes totaled over $113 million. Again, we regret that we could not supply you with the paywall-protected data for 2017, but the figure illustrates the hefty chunk of the market attributed to this channel.
MAJOR PLAYERS
According to EIN NewsDesk, the US is a dominating global shareholder of the false eyelash market among top-ranking countries like Canada, China, Mexico, Germany, and UK. The leading company on US charts is Ardell, the flagship entity of American International Industries. It has done business for upwards of 45 years, distributes 60 various lash brands, claimed $15.6 million in sales in 2014, and enjoyed a 30 percent rise in sales in 2016.
The ABNewswire report lists the following top players in the US false eyelash market. This company ranking is determined by revenue and market share, data that is also protected by a paywall.
- Ardell
- ESQIDO
- Elf
- Kiss
- Revlon
- Shu Uemura
- MAC
- Makeup Geek
- Benefit
- NARS
Similarly, the US monopolizes the market share of eyelash companies on a global scale. According to Market Research Future, the US accounts for the top six leaders on the chart. The list of key players is cited directly from the MRFR report: "Global False Eyelashes Market are Ardell International, Inc. (U.S.), MAC Cosmetics (U.S.), Revlon, Inc. (U.S.), Ulta Beauty, Inc. (U.S.), Kiss Cosmetics (U.S.), Velour Lashes (U.S.), Shu Uemura Cosmetics Inc. (Japan), Leeyo Cosmetics Co. (China)"
CONCLUSION
To wrap it up, the US market for false eyelashes was an estimated $170 million in 2016 and will rise by 6.62 percent CAGR from 2016 to 2022. The market is forecast to hit $250.20 million by 2022. Thus, we can estimate that the current US market value for false eyelashes is approximately $181.25 million.
As always, thanks for using Wonder. We hope this information is useful for your pitch deck and that your investor presentation goes off without a hitch. Please let us know if we can help with anything else!