Global Lip Care Market Is Estimated To Be Worth USD 3,144 Million By 2022 End
The value of
the global lip care market is anticipated to reach USD 4,930 Million by 2032,
growing at a CAGR of 4.6% between 2022 and 2032, from an estimated USD 3,144
Million in 2022.
Additionally,
the lip care industry contributed 6.3% of the total revenue from the skincare
industry in 2021. The demand for lip care
products has increased due to the rising importance of personal
grooming and rising consumer interest in looking presentable in order to make a
good impression.
The market
has also been significantly boosted by the rising proportion of working women
worldwide and their willingness to spend on lip care products.
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Report Attributes
Details
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%
North
America Market Value in 2021
USD 631
Million
North
America Growth Rate (2022-2032)
CAGR 5.3%
Collective
Value Share in 2021 (US, China, South Korea): Top 3 Countries
~41%
What are the main driving forces behind the
market for lip care?
As a result
of the pandemic, many manufacturers noted a decline in lip care product sales
in the early months of 2020. However, by the first quarter of 2021, demand had
increased as more consumers became interested in personal grooming.
Due to a
shift in consumer preference toward vegan products, there has been an increase
in demand for organic lip care products. Manufacturers seized this chance to
expand their line of organic lip care products in an effort to gain market
share. For instance, a well-known American cosmetic company, Anastasia Beverly
Hills, introduced its first line of vegan-friendly, cruelty-free lip balms in
2020.
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Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=495
Global Lip Care Market by Category
By
Product Type :
Lip Balm
Lip Butter
Lip Conditioner
Lip Scrub
Other Product Types
By
Price Range :
Economic Price Range
Medium Price Range
Premium Price Range
By
Packaging Range :
Stick Packaging
Tube Packaging
Cosmetic Packaging
Other Forms of Packaging
By
Sales Channel :
Offline Sales Channel
Supermarkets/Hypermarkets
Convenience Store
Departmental Stores
Other Sales Channel
Online Sales Channel
Company Website
E-commerce Platform
By
Region :
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
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Competitive Environment
Top
manufacturers in the lip care market are shown in the competitive landscape,
including Kiehl's, Burt's Bees, Carmex, Blistex, Forest Essentials, and The
Body Shop. Other notable players in the lip care market include L'Or?al S.A.,
Beiersdorf Aktiengesellschaft, Shiseido Co., Ltd., Avon Products, Inc.,
Unilever PLC, and The Estee Lauder Companies Inc.
The growing
concern of consumers about their physical appearance and their awareness about
the benefits of using natural ingredient based products has influenced the key
player in the lip care market to introduce a wide variety of organic lip care
products that address the requirements of the consumers.
Key Companies Profiled
?
L'Or?al S.A.
?
Beiersdorf Aktiengesellschaft
?
Avon Products, Inc.
?
Shiseido Co., Ltd.
?
Unilever PLC
?
Kiehl's
?
The Estee Lauder Companies Inc.
?
Burt's Bees
?
Carmex
?
Blistex
?
Forest Essentials
?
The Body Shop
* This article was originally published here
* This article was originally published here
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