Cosmetic Pen and Pencil Market Scope Report

Global Cosmetic Pen and Pencil Market Size, Forecast, and Trend Highlights Over 2021 - 2031

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 market is primarily driven by higher sales of cosmetic products owing to the rising need for 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.

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Women are the primary buyers of cosmetic products. In past, lack of income source 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. 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 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.

Global Cosmetic Pen and Pencil Market: Growth Drivers and Challenges

Growth Drivers

• Higher Sales of Cosmetic Products through E-Commerce

Ease of online shopping has driven the sales of cosmetics through various sites such as Nykaa, Sephora and others. In 2020, the  L’Oreal e-commerce sale was more than a quarter and continuously grew and reach nearly 29% in 2021.

• Rise in Number of People Using Makeup Products

Owing to matching up with aesthetic looks, prevalence of cosmetic product among population is rising. 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 good income to focus on themselves and their beauty. In 2021, out of all the executives worldwide, 18% of 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 its popularity. Nearly 75% people have decided to buy a cosmetic product after watching the video.

• Demand of Conscious and Sustainable Packaging

Packaging of a cosmetic product is the very prime factor of it sale. With the demand of eye-catching, beautiful packaging people are also more aware of saving nature. Approximately 72% share of the population in the Asia, Europe and North America are more inclined towards environment-friendly packaging.

Challenges

• Fake Retailers Selling Fake Beauty Products

• Low-Income People Cannot Access High-End Products

• Rising Skin Problems such as, Allergies, Acne, Itching Hindering the Market Growth

All cosmetic products including liners, foundations, and concealers can easily be duped. Fake retailers are selling the fake product in low prices. The chemical formulation of these products are unknown and might cause serious skin problems.

The global cosmetic pen and pencil market is segmented and analyzed for demand and supply by application into lip, eye, and skin glossing pencils, clean-up pencils, concealer pencils, cheek balm, and nails. Out of all, the lip segment is anticipated to hold the largest market size by the end of 2031. It is estimated to grow at a CAGR of 9.0% over the forecast period. It is expected to garner the highest revenue of USD 1,694.7 million by the end of 2031. This growth is attributed to rising usage of lip liners among the population. The leading US-based company Revlon Colorstay’s lip liner sale was valued at approximately USD 15 million.  The lip segment collected a revenue of USD 726.8 million in 2021. Furthermore, the rising need to define lips is likely to propel the growth of the lip segment.

Global Cosmetic Pen and Pencil Market Regional Synopsis

Regionally, the global cosmetic pen and pencil market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031. The . In 2021, about 31% of people purchased cosmetic online in India. Furthermore, surge in user 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 product constituted for 12% share. Moreover, the market in Asia Pacific garnered a revenue of USD 825.9 million in 2021.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).

Market Segmentation

Our in-depth analysis of the global cosmetic pen and pencil market includes the following segments:

Key Companies Dominating the Global Cosmetic Pen and Pencil Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global cosmetic pen and pencil market that are included in our report 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.

Global Cosmetic Pen and Pencil Market: Latest Developments

• 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.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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