Lipstick Market Outlook, Trends, Drivers, Competitive Landscape, Growth and Demand Forecast to 2023 including Key Players L’Oreal Paris, Procter & Gamble, Estee Lauder, Shiseido, and Avon

The increasing urbanization, improvement in lifestyle, and trend of picture posting on social media are the key factors, encouraging the use of cosmetic products. Lipstick is one of those lifestyle products, which is affordable for every individual belonging to every section of the society.
The key restraints in the growth of the global lipstick market includes the growing inclination of consumers towards neutral lip color in North America and Western Europe, and increasing geriatric population in certain countries, such as Japan and the U.K. The women geriatric population is expected to upsurge with a higher pace, as compared to men. The appearance consciousness of women diminishes with ageing, which hampers the growth of the cosmetic industry, including the lipsticks.

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The women above 30 years of age, in the developing countries, have been observed to be more selective about the type of cosmetic products they purchase. This has compelled the lipstick manufacturers to pay special attention towards the women population featuring within this age group. The celebrity endorsements for companies’ brands have been increasing in the lipstick market to allure more number of consumers. Fashion shows are another major brand promotion strategy, which is incorporated by the lipstick manufacturers.

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Asia-Pacific accounted for the largest share within the global lipstick market in 2014. China and India are expected to provide significant growth opportunities to Asia-Pacific lipstick market, owing to fast growth rate of population and increasing disposable income of people in these countries. The seasonal product launch by lipstick manufacturers have gained significant attention from the consumers, who search for new and innovative products.

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The major companies operating in the lipstick market are L’Oreal Paris, Procter & Gamble, Estee Lauder, Shiseido, and Avon. There are large numbers of other regional and country-specific lipstick manufacturers, owing to which the market is fragmented in nature. The industry has also witnessed certain mergers among lipstick players, which is consolidating the industry to certain extent.

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