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Lip And Cheek Tint Global Market Analysis, Trends, Growth, Research And Forecast 2033
Lip And Cheek Tint Global Market Analysis
According to The Business Research Company's, The lip and cheek tint market size has grown strongly in recent years. It will grow from $1.46 billion in 2023 to $1.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to changing lifestyle of the consumers for instant readiness and easy to carry products, increased versatility and convenience, increased non-greasy properties of lip and cheek tints to improve comfort and appearance, growing issues related to prolonged sun exposure, increased dryness, increased premature aging, and lip darkening, increased skincare benefits.The lip and cheek tint market size is expected to see strong growth in the next few years. It will grow to $2.00 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
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Market Drivers and Trends:
The growing demand for cosmetics is expected to propel the growth of the lip and cheek tint market going forward. Cosmetics are substances or products applied to the body to enhance or alter the appearance without affecting the body's structure or functions. They are in demand because they improve personal appearance, boost confidence, and meet societal beauty standards. Lip and cheek tint is a useful cosmetic for providing a versatile, natural-looking color enhancement for both lips and cheeks, creating a cohesive and long-lasting glow with minimal effort. For instance, in April 2023, according to L'Oréal S.A., a France-based cosmetic company, in Q1 2023, the dermatological beauty division experienced a 34.6% sales growth, reaching €1,685.7 million ($1815.07 million) from the previous year's €1,252.7 million ($1348.84 million). Therefore, the growing demand for cosmetics is driving the lip and cheek tint market.
The rising prevalence of chronic diseases is expected to propel the growth of the medical imaging equipment market going forward. Chronic diseases are long-lasting conditions that typically progress slowly over time and persist for extended periods, often for years or even a lifetime. It arises due to changing lifestyles, genetic predispositions, and aging populations. Medical imaging equipment helps patients suffering from chronic diseases by facilitating early detection, accurate diagnosis, personalized treatment planning, and ongoing monitoring of disease progression and treatment response. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rising prevalence of chronic diseases is driving the growth of the medical imaging equipment market.
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Major Key Players of the Market:
LVMH Moët Hennessy Louis Vuitton; The Procter& Gamble Company; L'Oréal S.A.; The Estee Lauder Companies Inc.; Kao Corporation; Avon Products Inc.; Revlon Inc.; Benefit Cosmetics LLC; Fenty Beauty; NYX Professional Makeup; e.l.f. Cosmetics Inc.; Glossier Inc.; Charlotte Tilbury Beauty Ltd.; Tarte Inc.; Pat McGrath Labs; Maybelline LLC; Huda Beauty; ColourPop Cosmetics; Morphe Cosmetics; Jouer Cosmetics; Milani Cosmetics; RENEE Cosmetics Pvt. Ltd.; COSRX; Soapworks Ltd.; Skin Food Co. Ltd.
Lip And Cheek Tint Market 2024 Key Insights:
• The lip and cheek tint market size is expected to see strong growth in the next few years. It will grow to $2.00 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Increasing Popularity Of Cosmetics And Its Effect On Lip And Cheek Tint Trends
• Nurraysa Introduces New Lip And Cheek Tint With Vitamins C And E
• Europe was the largest region in the lip and cheek tint market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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