USD 2.01 billion
Lip Care Products Market Size, Share, Growth Analysis, By Type(Lip Balm, Lip Scrub, others), By Distribution Channel(Supermarkets & Hypermarkets, Pharmacy Stores, Specialty Stores, Online), By Product(Medicated & Therapeutic, Sun Protection, Non-Medicated), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30L2052 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
91
|Figures:
76
Lip Care Products Market Insights
Global Lip Care Products Market size was valued at USD 4.11 billion in 2022 and is poised to grow from USD 4.31 billion in 2023 to USD 6.32 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).
Growing awareness towards high-quality lip care products due to the rising concerns related to various skin ssues like dryness, premature aging, lip darkening, and sun exposure is the major factor projected to drive the growth of the global lip care products market over the forecast period. Moreover, an extensive rise in the focus on natural and organic lip products that are free from toxic chemicals and synthetics among global consumers is likely to propel the growth of the market in the coming years.
Furthermore, shift in consumer preferences and growing demand for sustainable lip care products have resulted in growing number of innovations and new product launches, which is further likely to boost the demand for these products during the forecast period. For instance, in June 2021, Ethique Inc., a leading company in lip care industry, announced the launch of its new range of lip balms in the United States. The product is completely innovative and manufactured with plant-based ingredients and is completely plastic-free to cater to the demand for natural lip care products.
US Lip Care Products Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lip Balm
Fastest Growth
Lip Scrub
Growth Rate
7.9% CAGR
Global Lip Care Products Market, 2022-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Lip Care Products Market Segmental Analysis
Global lip care products market is segmented on the basis of product, distribution channel, type, and region. By type, the lip care products market is segmented into lip balm, lip scrub, and others. By distribution channel, the lip care products market is categorized into supermarkets & hypermarkets, pharmacy stores, specialty stores, and online. By product, the lip care products market is segmented into medicated & therapeutic, sun protection, non-medicated. By region, the lip care products market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Lip Care Products Market Analysis by Product
By product, the lip balm segment dominated the market in 2021 and is anticipated to maintain its dominance throughout the forecast period. Continuously growing number of new product launches coupled with the rising disposable income among consumers is driving the segment growth. For instance, in March 2022, Pilgrim, a leading direct-to-customer personal care & beauty brand launched its new range of lip care product, named Squalane in India. The product has been made in different flavours including cocoa butter, pomegranate, and shea butter.
Lip Care Products Market Analysis by Distribution Channel
By distribution channel, the supermarkets & hypermarkets segment held the largest market share in 2021. Characteristics and features of these stores such as wide availability of products, enhanced visibility of multi-national brands, and low product price offerings are the major factors expected to drive the growth of the segment during the forecast period. In addition, ease of purchase, ability to check original products from different brands under a single roof and rising number of these stores especially in developing countries such as India, China, and Indonesia are contributing significantly to the growth and demand of lip care products over the coming years.
Global Lip Care Products Market By Product, 2021 (%)
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Lip Care Products Market Regional Insights
Globally, Asia Pacific dominated the lip care products market and accounted for a healthy market share in 2021 and is set to continue its dominance over the forecast period. Increasing consumer base and rising awareness towards issues related to lip pigmentation, darkening, and sun exposure is likely to be the key factor driving the growth and demand for lip care products in the near future. Furthermore, wide presence of large market players including Kao Corporation and The Himalaya Drug Company and rising investment in research & development sector are projected to fuel the demand for lip care products in the region.
Moreover, North America is witnessing fastest CAGR during the forecast period in 2021 owing to the high technological advancement, rising innovation of advanced and natural products, and increased consumer income coupled with the change in their preferences and needs. In addition, growing inclination towards changing fashion trends and modern lifestyles is influencing consumers towards lip care products and fueling the growth of the lip care products market in the region.
Global Lip Care Products Market By Geography, 2022-2028
- Largest
- Fastest
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Lip Care Products Market Dynamics
Lip Care Products Market Drivers
- The rising awareness towards protecting lips from excessive sun exposure and easy availability of lip care products around the world are the major key factors driving the growth of the global lip care products market during the forecast period. The skin on lips is very thin and completely devoid of melanin, which makes is important for people to protect them from the sun. Hence, the demand for lip care products is growing at a significant pace.
Lip Care Products Market Restraint
- High availability of homemade lip care products as a commercial product alternative and high prices of natural and organic products present in the market is likely to be the major restraining factors of the global lip care products market during the forecast period. Various types of homemade and organic lip care products help in reducing pain and aid in the healing of cracked lips, which is likely to hamper the demand and growth of the market in the coming years.
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Lip Care Products Market Competitive Landscape
Global lip care products market is highly competitive with the presence of several well-known international and regional market players operating around the globe. Major companies of the global market are focusing on various business strategies including mergers & acquisitions, partnerships, collaborations, new product launches, and research & development for the development of their geographical presence and expanding their product portfolio.
Lip Care Products Market Top Player’s Company Profiles
- Johnson & Johnson Services Inc.
- Beiersdorf AG
- The Procter & Gamble Company
- L'Oréal S.A.
- Avon Products Inc.
- The Estée Lauder Companies Inc.
- Unilever
- Kao Corporation
- The Body Shop International Limited
- Revlon, Inc.
- Shiseido Co., Ltd.
- Burt's Bees
- EOS Products, LLC
- Maybelline LLC
- LVMH Moët Hennessy Louis Vuitton SE
- Natura & Co Holding S.A.
- Coty Inc.
- Henkel AG & Co. KGaA
- Colgate-Palmolive Company
- Blistex Inc.
Lip Care Products Market Recent Developments
- In April 2022, e.l.f. cosmetics entered into a partnership with Dunkin, a leading American foodservice brand, for the purpose to launch its new limited-edition makeup collection, that is totally inspired with Dunkin’ coffee and donuts also. The new makeup collection has consisted coffee lip scrub, which is sugar-based and java-scented.
- In July 2022, Last Forest launched its new range of beeswax lip balm in India. The range of lip balms are created with the help of 100% organic beeswax and are available in several flavors including mint, strawberry, and chocolate.
Lip Care Products Key Market Trends
- Increasing popularity of organic and natural plant-based lip care products with the rising prevalence of working women and their spending capacity is influencing the global lip care market positively. In the last few years, consumers are opting for lip care products with no presence of hazardous chemical products and synthetic, which has resulted in the growth of the market for natural and organic product solutions around the globe. Consumers are highly preferring these products to enhance, nourish, and repair their pale and dark lips caused by smoke and other reasons.
Lip Care Products Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global lip care products market is witnessing a significant growth over the forecast period owing to increased number of women-workforce, rising per capita income of consumers, numerous concerns associated with lips, and increasing awareness towards the importance of protecting lips. In addition, increasing urbanization and rapid industrialization mainly in emerging economies including China and China are also anticipated to fuel the demand for lip care products in the near future. However, some issues related to lip care products such as allergic reaction and contamination is likely to hinder the growth of the global market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.11 billion |
| Market size value in 2031 | USD 6.32 billion |
| Growth Rate | 4.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Lip Care Products Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Lip Care Products Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Lip Care Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Lip Care Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Lip Care Products Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Lip Care Products Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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