Global Lip Care Market Is Estimated To Be Worth USD 3,144 Million By 2022 End

The global lip care market value is estimated at USD 3,144 Million in 2022 and is forecast to reach USD 4,930 Million by 2032, growing at a CAGR of 4.6% from 2022 to 2032.

Moreover, lip care business generated around 6.3% of the global skincare market revenue in 2021. The increasing importance of personal grooming along with rising interest in presentable appearance among consumers for creating a positive impression, has boosted the demand for the lip care products.

In addition, the market has witnessed a major push from the increasing number of working women globally and their willingness to spend on lip care products.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/connectus/sample?flag=S&rep_id=495

Emerging Interest in Personal Grooming to Drive Adoption of Lip Care Products

The surging importance of grooming, in tandem with increasing interest in presentable appearance among the aspirational, urban population in order to create positive impression has provided numerous growth opportunities for the global cosmetics industry. Emerging interest of working professionals in personal grooming on account of improving living standards is driving innovations in cosmetic products, and lip care has been no exception. A wide range of revolutionary products of lip care have been launched around the world, and these products have an aesthetic appeal for grabbing attention of consumers, in turn fuelling sales. The lip care products are gaining immense traction within the beauty- & health-conscious consumers, as they deliver protection & nourishment to lips against harmful sun rays, and drying effects of cold & wind.

However, chemicals employed in the production of lip care products are being considered as harmful to health, which in turn has resulted into the consumer inclination toward organic lip care products. Leading players in the market are therefore introducing organic and multi-purpose lip care products for sustaining alongside growing trends. Demand for sun protection factor-based (SPF-based) lip care products from the youth population is a major trend being observed worldwide. Various entertaining & convincing advertisements, which promote use of lip care products, coupled with endorsements by celebrities on television and social media will further accelerate lip care products sales in the upcoming years.

What are the prominent driving factors of the lip care market?

Many manufacturers reported a dip in sales of lip care products in the early months of 2020 as an after effect of the pandemic, however, by the first quarter of 2021 the market witnessed a surge in demand as more people took interest in personal grooming.

A rise in demand for organic lip care products was witnessed among consumers, owing to a shifting inclination towards vegan products. Manufacturers took this opportunity to capture the market by launching more organic lip care products. For instance, in 2020, a well-known American cosmetic brand, Anastasia Beverly Hills launched their first vegan-based, cruelty-free line of lip balms in the market.

𝐒𝐡𝐚𝐫𝐞 𝐘𝐨𝐮𝐫 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 & 𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬: https://www.factmr.com/connectus/sample?flag=RC&rep_id=495

6 Key Future Prospects of Lip Care Market for Forecast Period 2017-2026 (In Terms of Volume)

• Accounting for over one-third share of the market, Asia-Pacific excluding Japan (APEJ) will continue to lead the global lip care market. North America and Europe will also persist as major markets for lip care, with sales collectively estimated to surpass 290,000,000 units by 2026-end.
• Between Latin America and Middle East & Africa (MEA), the former will account for a relatively larger market share, whereas the latter will exhibit a comparatively higher CAGR through 2026.
• On the basis of product type, lip balm will account for the largest market share, followed by lip butter. Lip balms will record the fastest sales expansion during the forecast period. Lip conditioner is also envisaged to exhibit a notable rise in sales through 2026.
• Departmental stores and online stores are projected to prevail as fast-expanding sales channels in the global lip care market, with sales collectively estimated to exceed 145,000,000 units by 2026-end. However, modern trade will continue to account for the largest market shares, trailed by convenience store.
• Based on price range, economic and medium segments will remain dominant in the market. Sales of lip care products in economic price range will register the highest CAGR in the market through 2026.
• Sticks will continue to be the preferred packaging type for lip care products, with sales pegged to exceed 350,000,000 units by 2026-end.

Key Companies Profiled
• L'Oréal S.A.
• Beiersdorf Aktiengesellschaft
• Avon Products, Inc.
• Shiseido Co., Ltd.
• Unilever PLC
• Kiehl's
• The Estee Lauder Companies Inc.
• Burt's Bees
• Carmex
• Blistex
• Forest Essentials
• The Body Shop

𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐈𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭: https://www.factmr.com/checkout/495

Global Lip Care Market by Category
• By Product Type :
o Lip Balm
o Lip Butter
o Lip Conditioner
o Lip Scrub
o Other Product Types

• By Price Range :
o Economic Price Range
o Medium Price Range
o Premium Price Range

• By Packaging Range :
o Stick Packaging
o Tube Packaging
o Cosmetic Packaging
o Other Forms of Packaging

• By Sales Channel :
o Offline Sales Channel
o Supermarkets/Hypermarkets
o Convenience Store
o Departmental Stores
o Other Sales Channel
o Online Sales Channel
o Company Website
o E-commerce Platform

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia
o Oceania
o Middle East & Africa

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐅𝐚𝐜𝐭.𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡: https://www.prnewswire.com/news-releases/engagement-in-adventure-sports-like-skydiving-to-position-wearable-cameras-market-at-us-16-5-billion-by-2028--301630917.html

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we'll be an able research partner.

This release was published on openPR.