Eye Balm Market Foreseen To Grow Exponentially Over 2031

Eye Balm Market Forecast and CAGR

The skin around the eyes is relatively fragile and more susceptible to external damage than rest of the facial skin. It is medically proven that the thickness of the eye area is 0.03-0.05 cm, while the thickness of the facial skin is about 0.08-0.15cm, a difference of three times. Therefore, the ingredients and technology have become the key points for eye care products to stand out.

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Several international brands started early, with strong financial strength to form a first-mover advantage in research and development. The manufacturers continues to increase research and development investment and strive to achieve catch-up with product power are resemblance with the consumer mentality.

According to the latest study by Fact.MR, eye balm market is continuing to contemplate a substantial growth during the forecast period of 2021-2031. Demand for eye balm will witness an accretion over short term and long term course of period with optimal growth outlook. However the sales from western countries are gaining traction, global eye balm demand is anticipated to expand at a CAGR of 6% over the same period.

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What is Driving Demand for Eye Balm?

With the rapid development of society and people’s requirements for living standards, the concept of “enjoying life” is getting deeper into the hearts of the broad masses. Eye balm is one of the high demandable cosmetic product that has moisturizing effect in addition to reduce the problems like dark circles, thinner line skins and wrinkles under eyes.

Evolving demand for wax based cosmetic products to protect skins and overcome skin dryness in any year round weather condition drives the demand among people across the globe.

Sales of eye care products undergo cyclical boom-and-bust, which has remained an immutable challenges for the manufacturers to expand their business. Although, by offering product for people of different age groups and targeting those by reviewing the demand can minimize the downfall of the sales.

Skincare Practices Likely to Augment Eye Balm Sales

People nowadays are more concerned about their physical appearance. Mostly the young age group between 18-25 years are more into cosmetic products.

Eye care products are also being popular across the age group of above 50 years which is mostly chosen for its anti-aging and wrinkles diminishing properties. In fact for medical purposes, eye balm is also being sold after doctor consultation and recommendation. There are so many eye care products formulated for specific eye treatment and a number of people across the globe using eye care products regularly as medication for their eyes.

Despite the age group, the industry is witnessing over 20% of its sales globally. Due to less water content and more Shea butter or coconut oil content eye balm is chosen over eye cream in most cases for better results.

Key Segments

• By Product Type

  • Cosmetic
    • Moisturizing Eye Balm
    • Firming Eye Balm
    • Anti-Aging Eye Balm
    • Others
  • Medicated
    • Anti-Allergy Eye Balm
    • Bacterial Skin Infection Balm
    • Others

• By Age Group

  • 18-25
  • 25-35
  • 35-50
  • >50

• By Sales Channel

  • Online
    • Direct to Consumer
    • Third-Party Online
  • Offline
    • Supermarket
    • Hypermarket
    • Specialty Stores
    • Small retail Shop
  • Others

• By Region

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  •  Europe
    • Germany
    • France
    • Spain
    • UK
    • Italy
    • BENELUX
    • Russia
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia & Oceania
    • India
    • Thailand
    • Malaysia
    • Indonesia
    • Australia
    • New Zealand
    • Rest of South Asia & Oceania
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Turkey
    • Rest of Middle East and Africa