Market Challenges And Opportunities
However, stringent regulations imposed on use of cosmetics ingredients by government authorities such as FDA, EU is a major restraint for the market growth. For instance, EU Commission regulation no. 1223/2009 is the main European legislation governing cosmetics products in Europe. According to this regulation, a person responsible for placing cosmetic products in European market should keep Product Information File (PIF) and the product information needs to be updated regularly.
Increasing new product launches and product innovation by key players is expected to be another factor supporting growth of the market. For instance, in 2017, EYEKO launched a multipurpose waterproof eyeliner that claims to stay under extreme sport conditions. Additionally, it comes with built-in brush and sharpener to ensure that the liner is always on point. Similarly, Maybelline also launched a new Total Temptation mascara with coconut oil.
Eye Makeup Market - Market Taxonomy: