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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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'Oréal 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'Oréal 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