Lip Care Products Industry Overview
The global lip care products market size was valued at USD 1.98 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028. Growing concerns related to prolonged sun exposure, dryness, premature aging, and lip darkening have resulted in an increased demand for high-quality products among consumers. Moreover, there has been an increasing focus on organic and natural lip balms as consumers are seeking safer alternatives that are free from synthetic and toxic chemicals. The ongoing trend of personal grooming and wellness is driving an increasing number of male consumers to adopt these products. The COVID-19 pandemic has massively impacted the sales of lip care & beauty products through major offline retail stores.
Gather more insights about the market drivers, restraints, and growth of the Global Lip Care Products market
Several mass markets stores, brick-and-mortar stores, and other retailers reported a decline in sales in the same year. For instance, The Boots Company PLC reported a decline in the sales of beauty products by two-third between March and April 2020. However, DIY and self-care beauty products are an emerging trend in the market, which is expected to recover during the forecast period. The demand for these products is rapidly increasing in the U.S. as the consumers are opting for organic products owing to the shifting inclination towards vegan products. Several manufacturers in the region are focusing on creating sustainably-sourced lip care products due to the increasing concerns related to plastic reduction and waste disposal. For instance, in June 2021, Ethique, Inc. launched a new range of lip balms in the U.S. The product contains naturally derived plant-based ingredients, which are plastic-free and has 100% home compostable tubes.
According to the article released by the U.S. PIRG in February 2018, nearly 81% of women and 39% of men use lip care products, such as balms. Moreover, the frequency of application of these products is higher among American women. On average, an American woman will apply these products up to 2.35 times per day, which may exceed up to 14 times a day. These indicators create a positive outlook for the market in the U.S. in the upcoming years.
Several international and regional product manufacturers are offering unique flavors in lip balms, scrubs, and masks among others owing to the surge in popularity and increased attention on lip care and self-care, particularly among women. The growing availability of tinted, and organic lip balms in a cost-effective range is driving their adoption at a faster pace.
Market players are focusing on research & development of such products to introduce skin-friendly and premium lip care products. The launch of natural & organic lip care treatments without chemicals like sodium laureth sulfate or aluminum is witnessing significant growth. For instance, in 2020 Anastasia Beverly Hills introduced vegan and cruelty-free lip balm in variants like coconut, strawberry, and mango. Such product offerings are expected to positively influence market growth.
Browse through Grand View Research's Beauty & Personal Care Industry Research Reports.
Personal Care Wipes Market - The global personal care wipes market size was valued at USD 11.25 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030.
Lipstick Market - The global lipstick market size was valued at USD 11.5 billion in 2018. Rising consciousness regarding personal grooming and appearance among young female consumers across the world is expected to be one of the key drivers.
Lip Care Products Market Segmentation
Grand View Research has segmented the global lip care products market on the basis of product, distribution channel, and region:
Lip Care Products Outlook (Revenue, USD Million, 2016 - 2028)
- Lip Balms
- Lip Scrub
- Others
Lip Care Products Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Hypermarket & Supermarket
- Pharmacy & Drug Stores
- Specialty Store
- Online
- Others
Lip Care Products Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights:
May 2021: Summer Fridays launched a new range of lip butter balms, which is available on retail websites like Sephora and Revolve.
Key Companies profiled:
Some prominent players in the global Lip Care Products market include
- L'Oreal S.A.
- Unilever
- Beiersdorf AG
- The Colgate-Palmolive Company
- The Estee Lauder Companies, Inc.
- Johnson and Johnson
- Avon Products, Inc.
- Shiseido Co., Ltd.
- The Procter & Gamble Company
- Revlon, Inc.
Order a free sample PDF of the Lip Care Products Market Intelligence Study, published by Grand View Research.
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