Lip Care Products Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Lip Care Products Market is Segmented By Type (Lip Balm, Lip Butter, Lip Conditioner, Lip Scrub, Others), By Nature (Organic, Conventional), By Packaging Type (Stick Packaging, Tube Packaging, Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Pharmacy & Drug Stores, Online Sales, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Lip Care Products Market Overview

The Global Lip Care Products Market is expected to grow at a high CAGR during the forecasting period (2024-2031).

Lip care products are cosmetics that nourish the lips while also protecting them from the elements, such as cold temperatures, dry wind, and UV rays. Beeswax or carnauba wax, camphor, cetyl alcohol, lanolin, paraffin, and petroleum are some of the main ingredients in these products. Dyes, tastes, perfumes, phenol, salicylic acid, and sunscreens are also used in some lip care products. To appeal to a broader consumer base, producers are now providing a wide range of lip care products, ranging from flavored balms to product incorporating organic components. Lip care products are also available in user-friendly packaging options such as jars, tubes, sticks, and roll-ons for easy application and transportation. Consumer demand for high-quality product has increased as worries about prolonged sun exposure, dryness, premature aging, and lip darkening have grown. Furthermore, as consumers seek safer options devoid of synthetic and hazardous ingredients, organic and natural lip balms have become increasingly popular.

Lip Care Products Market Scope

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Source: DataM Intelligence Analysis (2021)

Lip Care Products Market Dynamics

Growing awareness among consumers regarding personal care to drive market growth

Lip care products may see a substantial growth in demand on a global scale as a result of rising beauty concerns, particularly among women. The market may grow more in the next years as a result of a slew of persuasive and entertaining ads promoting the use of lip care products. Moreover, the growing popularity of organic products is expected to boost demand for lip care products in the near future. The majority of lip care products are non-irritating and safe to use. During the colder months, when lips crack and become exceedingly dry, the demand for lip care products could skyrocket. Because of a shift in customer preference for vegan product, there has been an increase in demand for organic lip care products. For example, Anastasia Beverly Hills, a well-known American cosmetic brand, debuted their first vegan-based, cruelty-free range of lip balms in the market in 2020.

Even though females have historically been the primary purchasers of lip care product, there has been an increase in male purchasers in recent years, owing to the growing trend of male grooming. Apart from that, because extended, unprotected sun exposure of the lips can cause wrinkling, premature ageing, or actinic cheilitis, there has been an upsurge in customer demand for sun protection lip care products. Aside from that, producers have been focusing more on product innovation, the creation of long-lasting and fast-acting formulations, and appealing product ranges for teenagers, all of which have contributed to a wider consumer base.

Lip Care Products Market Segmentation Analysis

Lip balm segment is expected to dominate the global market in 2021

In 2021, the lip balm sector had the highest revenue share of XX%, which is likely to continue throughout the forecast period. The increasing number of new product launches by key manufacturers to gain a broader consumer base is credited with the segment's rise. The Estee Lauder Companies, Inc., for example, debuted a lip care collection in February 2019 that included color refill lip balm, potion, and volumizer. However, during the projection period, the other section, which includes various lip butter, masks, and oils, is expected to grow quickly. Consumers' attention is gradually shifting toward innovative products, propelling the other segments. Gel and water-based lip masks and collagen lip masks are becoming increasingly popular among customers.

Based on distribution channel, supermarkets and hypermarkets held the highest market revenue share of XX% in 2020. These stores provide considerable benefits to customers, such as low product pricing and increased visibility of international and local brands, making them an ideal platform for all customer categories demographics. The specialty store distribution channel segment is expected to grow fastest during the forecast period. Consumers choose to shop at these stores because of the convenience of purchasing, the vast network, and the availability of an exclusive choice of product at reasonable costs. Furthermore, these retailers capitalize on the growing popularity of organic, natural, cruelty-free, and vegan product.

Lip Care Products Market Geographical Share

Asia Pacific is expected to dominate the global lip care products market in 2021

In 2021, Asia Pacific had the highest revenue share of more than XX%. The regional market is expected to maintain its leadership position during the projection period by increasing at the quickest CAGR. A growing number of customers are experiencing concerns such as lip pigmentation and darkening due to sun exposure, particularly in India, which is driving demand for these products. From 2022 to 2029, Europe is expected to be the second-largest regional market, while Central and South America are expected to have the second-fastest CAGR. Manufacturers in Central and South America are working on lip care product that feature a combination of natural and organic ingredients to reach new customer segments.

Source: DataM Intelligence Analysis (2021)

Lip Care Products Market Companies and Competitive Landscape

The global lip care products market is fragmented. The global lip care products market is competitive and comprises numerous regional and international competitors. Market companies concentrate on new product launches to diversify their product portfolios, broaden their customer base, and acquire a competitive advantage over their competitors. Summer Fridays, for example, debuted a new line of lip butter balms in May 2021, which is available on retail platforms like Sephora and Revolve. Players are concentrating on product research and development to introduce skin-friendly and quality lip care products. Natural and organic lip care solutions without chemicals like sodium laureth sulphate or aluminium are becoming increasingly popular. Anastasia Beverly Hills, for example, debuted vegan and cruelty-free lip balm in flavours including coconut, strawberry, and mango in 2020.Such product offers are likely to have a favourable impact on market growth.

Mahor players are L’Oreal S.A., Unilever, Johnson & Johnson, Avon Products, Inc, Revlon Inc, Bayer A.G, The Clorox Company., Kao Corporation., Shis\\\\\Co.Ltd, Carma Lans,Inc., among others.

COVID-19 Impact: Negative impact on the global lip care products market

The beauty and personal care business are likely to be one of the hardest damaged industries during a pandemic. Consumer preferences have shifted, and the industry is fighting to keep up. Consumers are more willing to spend money on products with a longer shelf life and are less likely to be contaminated. Furthermore, revenue losses from closed hypermarkets, supermarkets, and department stores have considerably impacted growth projections. As a result, companies are focusing their efforts on increasing their online presence. Some of the most well-known cosmetics businesses are marketing at-home wellness solutions to stay afloat in the face of an impending slump. The cosmetics business as a whole is facing a fall in sales as clients cut back on discretionary spending. Several mass markets stores, brick-and-mortar stores, and other retailers reported a decline in sales in the same year. For instance, The Boots Company PLC reported a decline in the sales of beauty products by two-third between March and April 2020.

DIY and self-care beauty products, on the other hand, are a growing trend in the market that is predicted to recover throughout the projection period. Because of the evolving propensity towards vegan products, demand for these items is fast expanding in the United States, as customers opt for organic products. Due to rising worries about plastic reduction and trash disposal, some manufacturers in the region are working on developing environmentally sourced lip care products. For example, Ethique, Inc. debuted a new line of lip balms in the United States in June 2021. The product is made entirely of naturally derived plant-based materials, is plastic-free, and features 100% compostable tubes.

 Why Purchase the Report?

• Understand the current market scenario and viability of global lip care products over the forecast period
• Visualize the composition of the global lip care products in terms of type, nature, packaging type and distribution channel to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global lip care products – Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global lip care products report would provide an access to approximately 45 market data tables, 45 figures and 180 pages

Target Audience:

• Cosmetic Products Manufacturers
• Industry Investors
• Education & Research Institutes
• Research Professionals