Eye care products stand out as indispensable tools in the battle against aging, wrinkles, and eye bags that stem long hours of screen time. As the demand for effective and innovative eye care solutions keeps rising, businesses have a golden opportunity to tap into this burgeoning market.
The beauty industry is no stranger to constant evolution, and eye care products are no exception. From serums and creams to patches and specialized treatments, the options are vast and diverse.
This article will dive into the top trends businesses can leverage to meet the evolving demands of consumers in 2024.
How big is the eye cosmetic market?
Eye care products are gaining popularity as more consumers focus on improving their eye health. For this reason, the global eye cosmetics market (currently at US$ 26.53 billion) is experiencing a surge, with experts predicting a 3.56% compound annual growth rate (CAGR) from 2023 to 2028.
Reports also show that the United States is the biggest market player, raking in an astounding US$ 5 billion in 2023.
5 product trends to leverage for the perfect eye care ritual
Eye cream is great for moisturizing the area around the eye and keeping the skin looking firm, supple, and fresh—consumers certainly agree with this, as eye creams have an applaudable monthly search average of 135,000 (based on Google data).
Since the skin around the eyes is thinner and more sensitive than the rest of the face, eye creams offer targeted solutions to help conceal signs of aging, fatigue, and dehydration. Even better is that many eye creams contain ingredients like retinol, peptides, or hyaluronic acid, helping to reduce fine lines and wrinkles.
Eye creams also contain vitamin C, kojic acid, and caffeine to help brighten under-eye areas and reduce puffiness/inflammation. More importantly, eye creams also offer moisturizing benefits to water down the terrible effects of dry skin around the eyes. Hence, it’s no surprise why more consumers are gleaning towards the eye cream.
Eye serums generate much buzz around buying consumers as they rake in 27,100 searches monthly (according to Google data). Like eye creams, these concentrated formulations can handle delicate and sensitive skin around the eyes, providing solutions for fine lines, wrinkles, dark circles, and other issues.
However, some consumers prefer eye serums to creams because of the different consistency. Serums offer a lightweight and thinner consistency as manufacturers craft them from smaller molecules.
But that’s not all. Because of their lightweight texture, eye serums can quickly soak into the user’s skin, making them suitable for day and night use. And consumers can even apply them before moisturizers or creams.
Lightweight and concentrated, eye essences offer another solution for the delicate skin around the eyes. Although they’re not as popular as creams or serums, Google Ads data records a humble 590 searches monthly for these products.
One major selling point for eye essences is their watery or gel-like consistency. Why does this matter? Such textures penetrate the skin faster than others, providing easy solutions for thin and sensitive eye skin. Consumers with very delicate and sensitive skin, especially around the eyes, will love this product.
Like serums, manufacturers formulate eye essences with a high concentration of active ingredients, including antioxidants, peptides, and vitamins. In truth, most eye essences focus on hydrating delicate areas, allowing consumers to maintain and boost skin moisture.
Under-eye masks (or eye patches) are eye care products with unique properties. They offer the best solution for under-eye areas, making them more specialized than serums, creams, and essences.
Manufacturers make eye masks from gel, hydrogel, cloth, or other materials saturated with serums or other active ingredients. Even better is that the gel or hydrogel variants offer cooling and soothing sensations to help refresh the under-eye area.
Eye patches also top the list as one of the most popular eye care products in 2023 (and it seems they’ll remain that way in 2024). Reports from Google Ads reveal they dominate the market with over 201,000 searches monthly.
Hydrating eye gel
Hydrating eye gel refreshes tired, screen-stressed eyes. It has a cooling formulation that uses ingredients like antioxidants, peptides, and hyaluronic acid to deal with consumers that face puffiness and dark patches under their eyes.
Even better is that hydrating eye gels are the go-to products for a noticeable and instant hit of refreshment. They come packed with skin-loving ingredients like collagen, niacinamide, and retinol to attack puffiness, wrinkles, dark circles, and fine lines.
Eye gels are raking in impressive numbers in 2023, showing they’ll get even better by 2024. Search interest for this product increased from 12100 in October to 148000 in November 2023.
Focus on these trends
The landscape of eye care products is evolving, presenting exciting opportunities for retailers to leverage in 2024. Eye creams help moisturize the sensitive area around the eyes, while eye serums appeal to consumers who prefer a thinner consistency.
Eye essences offer a watery-like alternative to creams and serums, but hydrating eye gels are the go-to for instant refreshment. Lastly, consumers looking to target their under-eye areas will love eye masks.
Dive into these trends to offer an updated eye beauty inventory in 2024.