Global Lipstick Market Size, Share, Development, Growth and Demand Forecast to 2023

The increasing urbanization, improvement in lifestyle, and trend of picture posting on social media are the key factors, encouraging the use of cosmetic products. Lipstick is one of those lifestyle products, which is affordable for every individual belonging to every section of the society.

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In the developed countries, especially in Eastern Europe, the demand for lipstick has been increasing at a swift pace. The increasing number of working women is one of the key factors responsible for the increased usage of cosmetic products. In order to encourage the consumers to purchase lipsticks in the developing countries, the key lipstick manufacturers, including L'Oreal Paris, are offering their products at low price.

Based on type, the global lipstick market can be broadly segmented into matte, crème, shimmer, and long-wearing. Matte lipsticks are mostly dark in color, due to high pigment content in them. Crème lipsticks have more wax than matte lipsticks; therefore, they not only color, but also protect the lips.

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Asia-Pacific accounted for the largest share within the global lipstick market in 2014. China and India are expected to provide significant growth opportunities to Asia-Pacific lipstick market, owing to fast growth rate of population and increasing disposable income of people in these countries.

The major companies operating in the lipstick market are L’Oreal Paris, Procter & Gamble, Estee Lauder, Shiseido, and Avon. There are large numbers of other regional and country-specific lipstick manufacturers, owing to which the market is fragmented in nature.

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