Growing availability of lip care products in the market and increasing problems of lip dryness & darkness among people will drive the global lip care products market during the forecast period.
According to the TechSci Research report, “Lip Care Products Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” the Global Lip Care Products Market is a rapidly growing industry that has gained popularity among consumers of all ages in recent years. The market encompasses a wide range of products designed to provide protection, hydration, and nourishment to the lips, including lip balms, lip scrubs, lip masks, and other products.
The Global Lip Care Products Market has seen significant growth in recent years, driven by numerous factors such as increasing consumer demand for natural and organic lip care products, rising awareness about the importance of lip health, and growing popularity of lip care products among younger and elder populations.
The increasing demand for natural and organic lip care products among consumers is a major factor driving market growth, as consumers are becoming more conscious of the ingredients they use on their skin, seeking products which are free from harmful chemicals.
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Another factor driving market growth is the availability of wide range of lip care products in various flavors, colors, and textures. Manufacturers are constantly innovating and expanding their product portfolios to cater to changing consumer preferences and boost sales. For instance, some of the latest trends in lip care products include tinted lip balms, lip oils, and lip scrubs.
The online retail segment is expected to witness significant growth over the forecast period, owing to the convenience of online shopping and the increasing popularity of e-commerce platforms. Manufacturers are capitalizing this trend by expanding their online presence and investing in online marketing to reach a wider audience.
The demand for lip care products has been increasing significantly over the past few years, driven by the growing awareness of the harmful effects of pollution and environmental factors on the skin, including the lips. Factors such as UV radiation, dry weather conditions, and pollution can cause damage to the skin, leading to chapped, dry, and cracked lips. The use of lip care products helps to protect the lips from these environmental factors, keeping them hydrated and healthy.
The Global Lip Care Products Market is segmented based on type, product type, packaging, end-user, distribution channel, region, and competitive landscape.
Based on type, the Global Lip Care Products Market is segmented into lip balms, lip scrubs, lip masks, lip conditioners, and others. Among these, lip balms have a significant share in the market during the forecast period because they are widely used for daily lip care and are available in various forms, such as sticks, tubes, and others. The demand for lip balms is expected to continue to grow due to their ease of use, portability, and affordability.
Based on distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, departmental stores, online, and non-retail. Among these, the online segment is the fastest-growing segment in the market during the forecast period, as consumers are increasingly shifting towards online shopping for convenience and the ability to compare distinguished products and their pricing.
Key market players operating in the global lip care products market include:
- L’Oreal S.A.
- Unilever PLC
- Beiersdorf AG
- Colgate-Palmolive Company
- The Estée Lauder Companies Inc.
- Johnson & Johnson Services, Inc.
- The Avon Company
- Shiseido Cosmetics
- Revlon Consumer Products Corporation
- Himalaya Global Holdings Ltd.
An increase in the number of new product launches and rising consumer disposable income are both contributing to the segment’s growth. For example, pilgrim, a leading direct-to-consumer personal care and beauty brand, launched its new Squalane lip care product line in India in March 2022. The product is available in a variety of flavors, including cocoa butter, pomegranate, and shea butter.
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In 2022, the Asia Pacific had the highest revenue share within the lip care products market at a global scale. As a result of excessive sun exposure, a growing percentage of people are experiencing lip pigmentation and darkening, which is driving the demand for these products, particularly in India. Various brands, including L’Oreal S.A, are launching and promoting their products in this region via online platforms, which is expected to increase demand for premium lip balm products in the region.
“The lip care products market is expected to continue to grow in the coming years, driven by factors such as the increasing popularity of natural and organic lip care products, rising demand for lip care solutions, and the growing trend of self-care among consumers. The market is expected to receive help from the increasing focus on innovation and the development of new and advanced lip care products that offer enhanced protection and nourishment to the lips. The lip masks are growing in popularity, driven by the increasing demand for anti-aging lip care solutions. Lip masks are designed to supply intensive hydration and nourishment to the lips, helping to reduce the appearance of fine lines and wrinkles. These products typically have ingredients such as hyaluronic acid, vitamin E, and collagen.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Lip Care Products Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Lip Balms, Lip Scrubs, Lip Masks, Lip Conditioners, Others), By Product Type (Medicated, Non-Medicated, and Sun Protection), By Packaging (Stick, Tube, and Others), By End-User (Male, Female), By Distribution Channel (Supermarkets/Hypermarkets, Pharmacy & Drug Stores, Specialty Stores, Online and Non-Retail), By Region, By Company, has evaluated the future growth potential of lip care products market globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the market of lip care products market globally.
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