Lip Care Products Market- Industry Revenue, Challenges And Opportunity 2022-2028

Market Overview:

Global Lip Care Products Market was valued at USD 2.07 Billion in 2021 and is expected to reach USD 3.07 Billion by the year 2028, at a CAGR of 5.8 %.

Products that are specifically intended to treat and moisturize chapped, dry lips are referred to as lip care products. These items are also used to brighten lips that are dark. Additionally, over the past few years, customer interest in lip care products with natural ingredients such as avocado oil, cocoa butter, beeswax, and fruit extracts has increased. This can be explained by the many advantages these chemicals have for treating cracked and chapped lips, since they hydrate and moisturize lips for a longer time without having any negative side effects.

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Market Dynamics:

Driver:

Global demand for lip care products is being driven by consumers' growing awareness of how their physical appearance affects their self-confidence. The demand in the market is rising due to millennials' ongoing focus on increasing their use of personal care products, particularly lip care products. Additionally, their simple availability in numerous offline and online distribution channels is driving up market demand.

Opportunities:

The significant consumer preference for organic lip care products is influenced by the growing popularity of organic skin care products. In contrast to goods made of harmful chemicals and synthetic substances, consumers are choosing lip care products with natural, organic, and clean-label ingredients. The need for organic lip care products is being driven by modern people's changing lifestyles and rising smoking rates. Customers choose these solutions to hydrate and restore their pale and darker lips that are the result of smoking and a variety of other factors. Due to this, the market's top companies are now developing goods with natural ingredients and emphasizing their ethical and sustainable source. Consumers are also growing more and more environmentally conscious.

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Market coverage

•Available market numbers - 2022-2028
•Base Year - 2021
•Forecast Period - 2022-2028
•Segments covered - By Type, By Product Form, By Distribution Channel.
•Competitive Landscape - L'Oréal S.A.,Unilever PLC,Johnson & Johnson Services Inc.,Bayer AG,Beiersdorf Aktiengesellschaft,Subaru Corporation

Market Segmentation

By Type

• Lip Balm
• Lip Butter
• Lip Oil
• Lip Scrub
• Others

By Product Form

• Liquid/Gel
• Cream

By Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Retailers
• Pharmacies & Drug Stores
• Online Stores
• Others

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By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)

Major Key Players Considered in the Market

• L'Oréal S.A.
• Unilever PLC
• Johnson & Johnson Services Inc.
• Bayer AG
• Beiersdorf Aktiengesellschaft
• Subaru Corporation
• Avon Products Inc.
• Shiseido Co. Ltd.
• The Procter & Gamble Company
• Kao Corporation
• Kiehl's
• The Estee Lauder Companies Inc.
• Revlon Inc and 'others major players.

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Key Industry Developments in the Lip Care Products Market:

In August 2021, COSRX, a leading skincare brand that has been winning hearts at major U.S. beauty retailers with cult-favorite products such as their Acne Pimple Master Patch and BHA Blackhead Power Liquid, is introducing their first collection of lip products at ULTA and cosrx.com.

In May 2021, Summer Fridays introduced the latest range of lip butter balms, which is accessible on retail websites like Sephora and Revolve.

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