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

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.