The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Lip Care market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Lip Care
The report offers actionable and valuable market insights of Lip Care. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Lip Care Market across various industries and regions.
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The global lip care market value is estimated at USD 3,144 Million in 2022 and is forecast to reach USD 4,930 Million by 2032, growing at a CAGR of 4.6% from 2022 to 2032.
|Base Year Value (2021A)||USD 3,006 Million|
|Estimated Year Value (2022E)||USD 3,144 Million|
|Projected Year Value (2032F)||USD 4,930 Million|
|Global Growth Rate (2022-2032)||CAGR 4.6%|
This newly published and insightful report sheds light on Market Insights of Lip Care, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Lip Care Market.
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Emerging Interest in Personal Grooming to Drive Adoption of Lip Care Products
The surging importance of grooming, in tandem with increasing interest in presentable appearance among the aspirational, urban population in order to create positive impression has provided numerous growth opportunities for the global cosmetics industry. Emerging interest of working professionals in personal grooming on account of improving living standards is driving innovations in cosmetic products, and lip care has been no exception. A wide range of revolutionary products of lip care have been launched around the world, and these products have an aesthetic appeal for grabbing attention of consumers, in turn fuelling sales. The lip care products are gaining immense traction within the beauty- & health-conscious consumers, as they deliver protection & nourishment to lips against harmful sun rays, and drying effects of cold & wind.
However, chemicals employed in the production of lip care products are being considered as harmful to health, which in turn has resulted into the consumer inclination toward organic lip care products. Leading players in the market are therefore introducing organic and multi-purpose lip care products for sustaining alongside growing trends. Demand for sun protection factor-based (SPF-based) lip care products from the youth population is a major trend being observed worldwide. Various entertaining & convincing advertisements, which promote use of lip care products, coupled with endorsements by celebrities on television and social media will further accelerate lip care products sales in the upcoming years.
6 Key Future Prospects of Lip Care Market for Forecast Period 2017-2026 (In Terms of Volume)
- Accounting for over one-third share of the market, Asia-Pacific excluding Japan (APEJ) will continue to lead the global lip care market. North America and Europe will also persist as major markets for lip care, with sales collectively estimated to surpass 290,000,000 units by 2026-end.
- Between Latin America and Middle East & Africa (MEA), the former will account for a relatively larger market share, whereas the latter will exhibit a comparatively higher CAGR through 2026.
- On the basis of product type, Lip Care will account for the largest market share, followed by lip butter. Lip Cares will record the fastest sales expansion during the forecast period. Lip conditioner is also envisaged to exhibit a notable rise in sales through 2026.
- Departmental stores and online stores are projected to prevail as fast-expanding sales channels in the global lip care market, with sales collectively estimated to exceed 145,000,000 units by 2026-end. However, modern trade will continue to account for the largest market shares, trailed by convenience store.
- Based on price range, economic and medium segments will remain dominant in the market. Sales of lip care products in economic price range will register the highest CAGR in the market through 2026.
- Sticks will continue to be the preferred packaging type for lip care products, with sales pegged to exceed 350,000,000 units by 2026-end.
Fact.MR’s report offers forecast and analysis on key players underpinning expansion of the global lip care market. The market players profiled by the report include Subaru Corporation, Kiehl’s, The Estee Lauder Companies Inc., Shiseido Co., Ltd., Avon Products, Inc., Johnson & Johnson Services, Inc., Beiersdorf Aktiengesellschaft, Unilever PLC, The Procter & Gamble Company, Kao Corporation, and L’Oréal S.A.
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More Valuable Insights on Lip Care Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Lip Care, Sales and Demand of Lip Care, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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