Press release
Lip Balm Market Size, Share, Development by 2023
Lip balm is a substance put on the lips to give relief to dry or chapped. It may also be used to help soothe certain other situations, such as cold sores. The balm may be made with any number of ingredients, but usually includes something like petroleum jelly or beeswax, as well as scented oils, and sometimes medicinal herbs or medicinal compounds. It can also have things like vitamins and minerals included, in theory to help support the health of the lips, and many types include sunscreen to help prevent sun damage to the sensitive skin on the lips. Lip balm can be applied where a finger is used to apply it to the lips, or in a lipstick-style tube from which it can be applied directly.
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Global Lip Balm Market: Forecast by Type / Application / Region
Currently, there are different types and kinds of lip balm available in the market. And the classification of lip balm is different according to different point of view. So in this report, we counts product properties includes solid and oily, and the color of the lip balm includes colorless and colored, but it does not include the lipstick which has an effect of moisture. In this report we counts the each Pcs lip balm is about 0.12oz.
The lip balm industry has been in steady growth in the last several years, especially in emerging economies like China. More people have learned to use lip balm as the income increases and consumer culture changing. Lip care product demand market shows strong brand awareness, hence large companies has a certain advantage regarding production and marketing. A global presence is common.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area; the future will still have more new investment enter the field.
Along with the development of Chinese domestic Industrial lip balm, Chinese domestic lip balm production has being mature and advanced, and the performance distance has been shortened compared with global brands.
Over the next five years, LPI(LP Information) projects that Lip Balm will register a 7.3% CAGR in terms of revenue, reach US$ 1010 million by 2023, from US$ 660 million in 2017.
Global Lip Balm Market: Key Players
Maybelline
L'Oreal
Burt’s Bees
Carmex
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Related Information:
United States Lip Balm Market Research Report 2018
Europe Lip Balm Market Research Report 2018
North America Lip Balm Market Research Report 2018
Asia-Pacific Lip Balm Market Research Report 2018
China Lip Balm Market Research Report 2018
EMEA Lip Balm Market Research Report 2018
Global Lip Balm Market Research Report 2018
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