Lipstick Market: An Insight On the Important Factors and Trends Influencing the Market
In developed countries, especially in Eastern Europe, demand for lip products has been growing at a swift pace. The growing number of employed women is one of the main factors responsible for the augmented usage of cosmetic products. Increasing demand for lipstick among younger consumers is one of the key drivers of the market. Lipstick is considered as an inexpensive luxury among females.
For example, during 2014, around 15 million people used lipstick in the U.K. The major restraint of the market is the presence of toxic substances in lipsticks which is anticipated to create challenges for the progress of the market. Cadmium is a well-known toxic chemical that disturbs the DNA directly. Lead is another harmful chemical that exists in minor quantities in lipsticks.
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High amount of lead can results in fertility problems, high blood pressure, concentration and memory problems, and there is huge risk of harm to the fetus during pregnancy. Testing products on animals is also one of the restraints of the market, as consumers demand cruelty free products. However, the major opportunity present in this market is demand for organic and natural lipsticks, as organic and natural lipsticks are not harmful and are cruelty-free since they are not tested on animals.
The lipstick market is segmented on the basis of type, application or end user, and region. In terms of type, the global lipstick market can be largely segmented into crème, long-wearing, matte, and shimmer. Matte lipsticks are generally dark in color, because of high pigment content in them. Crème lipsticks are waxier than matte lipsticks; therefore, they not only color, but also guard the lips. Shimmer lipsticks consists of light-reflecting elements, which are usually mica, fish scales, synthetic pearl, and silica.
Glitter lipsticks are light in color and are applied on festive occasions. Long-wearing lipsticks are largely available as a two part system that includes base and gloss, and are applied by consumers who want the lipstick to remain for extended time on the lips. Demand for long-wearing and matte lipsticks is increasing at a faster pace than other types of lipsticks because of add-on benefits related to these lipsticks. Shimmer lipsticks are mostly popular among younger consumers.
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On the basis of application or end user, the market is segmented into under 18, 18-30, 30-40, 40-50, and above 50 .The global lipstick market has been analyzed for five geographic regions, namely Asia Pacific (China, Japan, India, and South Korea), Europe (Germany, France, Italy, and the U.K.), North America (Canada, Mexico, and the U.S.), South America (Brazil and Argentina) and Middle East & Africa (MEA). North America holds the major share of the lipstick market.
Asia Pacific reported the major share within the global lipstick market in 2016. India and China are anticipated to deliver substantial development to the Asia Pacific lipstick market, due to fast changing lifestyle and growing disposable income of people in these nations. The periodic product introduction by lipstick producers have gained attention from the customers, who seek novel and advanced merchandise.
There are huge numbers of companies in different regions, due to which the market is split in nature. The global lipstick market is huge, dominated by many key players such as L'Oréal, Estee Lauder, P&G, Shiseido, Avon, Coty, COLOROX, CHANEL, LVHM, Markwins Beauty, Revlon, Stargazer, Unilever, Yves Rocher, Oriflame, Chanel, ROHTO, Johnson& Johnson, and DHC.
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