Market estimates for blush and eyeshadow sticks in Canada are expected to reach US$ ~245 million in 2023, with a compound annual growth rate (CAGR) of ~4.7% from 2023 to 2033. It is anticipated that as consumers’ preferences for natural cosmetics rise, market demand would soar. Additionally, the growing popularity of transparent ingredient lists and clean labels will boost sales.
During the period of 2018-2022, the market increased at an average annual growth rate of 3.5%. Now the sold ice machine market holds around 60% to 65% of market share.
A sudden demand for commercial ice machines is expected to grow from the sector due to emergency need in the food service and health care fields. So, companies search for ice production that is continuous and of fresh and clean ice.
The rapid growth of the tourism sector has been an advantage to the opening of small hotels and restaurants. This is working as a demand booster of the ice machines. Along with a rise in alcohol consumption, this would boost the use of domestic ice machines.
The informed beauty enthusiasts prefer to use color cosmetics such as eyeshadows and blushes, which are safe with a natural feeling. Therefore, increasing demand for organic and natural products has fostered growth of the Canada eyeshadow stick & blush stick market.
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Key Takeaways from the Canada Eyeshadow Stick & Blush Stick Market Study
- Eyeshadow stick is expected to hold prominent share of the Canada eyeshadow stick & blush stick market.
- Key players are focusing on implementing eco-friendly and sustainable manufacturing processes in order to cater to the increasing demand for eyeshadow stick and blush stick.
- In terms of sales channel, the online segment is estimated to grow at a CAGR of ~6.9% during the projection period.
“The use of cutting-edge technologies by beauty brands to facilitate safer cosmetic product trials is currently being emphasised more. During the forecast period, the market is anticipated to benefit from the use of virtual reality to encourage online purchasing.”, says an FMI Analyst.
Who is winning?
Manufacturers are concentrating on boosting their R&D expenditure for product innovation and manufacturing smaller, streamlined, and fashionable products.
Major players present in the U.S. BPC retail vending machine market are L’Oreal SA, Maybelline, Nyx Professional Makeup, Rimmel London, ELF Cosmetics, Revlon, Coty Inc., Chanel, Dior Beauty, M.A.C Cosmetics, Charlotte Tilbury, Sheiseido Company, Bobbi Brown, Yves Saint Laurent, and The Estee Lauder Companies Inc. among others.
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Future Market Insights, in its new offering, provides an unbiased analysis of the Canada eyeshadow stick & blush stick market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on Canada eyeshadow stick & blush stick market by product type (eyeshadow stick & blush stick), sales channel (beauty salons, modern trade, departmental stores, specialty stores, online retailers, mono brand stores, and other sales channel).
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