Press release
Global Lip Care Product Market Overview Covering Forecast Market Size And Growth Rate 2033 | Johnson and Johnson, LVMH Moët Hennessy Louis Vuitton, The Procter & Gamble Company, Unilever PLC
Lip Care Product Global Market Report
The Business Research Company presents an extensive market research report on the Lip Care Product Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The lip care product market size has grown strongly in recent years. It will grow from $2.33 billion in 2023 to $2.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to aging population and anti-aging products, beauty and cosmetics trends, natural and organic product demand, seasonal variations and weather conditions, influence of fashion and trends.
The lip care product market size is expected to see strong growth in the next few years. It will grow to $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to health-conscious consumer base, shift in beauty standards and fashion, expansion into emerging markets, influence of social media and influencers, focus on sun protection. Major trends in the forecast period include portable and on-the-go solutions, inclusive beauty and diverse representation, advent of multi-functional lip products, influence of influencers and social media, focus on lip treatments and overnight masks.
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Key Market Players:
Major companies operating in the lip care product market report are Johnson and Johnson, LVMH Moët Hennessy Louis Vuitton, The Procter & Gamble Company, Unilever PLC, Bayer AG, L'Oréal Groupe, The Colgate-Palmolive Company, The Estee Lauder Companies Inc., Kao Corporation, Jack Black LLC, Beiersdorf AG, The Clorox Company, Neutrogena, Avon Products Inc., Revlon Inc., Nivea, Kiehl's LLC, Bioderma, Burt's Bees, Maybelline, Carma Labs Inc., Carmex, Blistex, Forest Essentials, EOS Products LLC, La Roche-Posay, Aquaphor, ChapStick, Vaseline, Softlips Lip Balm, Fresh Inc., Glossier, Bite Beauty, Laneige, Tatcha LLC
Market Drivers:
Rising urbanization all over the globe is expected to propel the growth of the lip care product market going forward. Urbanization refers to the movement of people from rural to urban settings and increasing population densities in urban areas. Growth in urbanization is increasing the focus on personal care, body appearance, beauty, and health consciousness, which will further drive the lip care product market growth. For instance, according to the Department of Economic and Social Affairs of the United Nations, 68% of the world's population ( 2.5 billion) is projected to live in urban areas by 2050. Therefore, rising urbanization is driving the growth of the lip care product market.
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https://www.thebusinessresearchcompany.com/report/lip-care-product-global-market-report
The lip care product market covered in this report is segmented -
1) By Product Type: Lip Balm, Lip Butter, Lip Conditioner, Lip Scrub, Other Product Types
2) By Gender: Female, Male
3) By Packaging Range: Stick Packaging, Tube Packaging, Cosmetic Packaging, Other Packaging Ranges
4) By Distribution Channel: Hypermarkets And Supermarkets, Pharmacy And Drug Store, Specialty Store, Online, Other Distribution Channels
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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