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The global lip care market is estimated at $3,144 million

lip care market

The global Lip Care Market is valued at USD 3,144 Million in 2022 and is projected to reach USD 4,930 Million by 2032, growing at a CAGR of 4.6% from 2022 to 2032.

Additionally, the lip care business generated approximately 6.3% of the global skin care market revenue in 2021. The rising importance of personal grooming along with the growing interest in presentable appearance among consumers to create a positive impression, stimulated the demand for lip care products.

Additionally, the market has witnessed a major surge in the growing number of working women globally and their willingness to spend on lip care products.

: https://www.factmr.com/connectus/sample?flag=S&rep_id=495

Emerging interest in personal care to drive adoption of lip care products

The growing importance of grooming, coupled with the growing interest in looking presentable among the ambitious urban population to create a positive impression, has provided many growth opportunities for the global cosmetics industry. The emerging interest of working professionals in personal care due to improved living standards is driving innovations in cosmetics, and lip care has been no exception. A wide range of revolutionary lip care products have been launched around the world, and these products have aesthetic appeal to grab consumersโ€™ attention, in turn fueling sales. Lip care products are gaining popularity among beauty and health conscious consumers as they protect and nourish the lips against the harmful rays of the sun and the drying effects of cold and wind.

However, the chemicals used in the production of lip care products are considered to be harmful to health, which has resulted in the inclination of consumers towards organic lip care products. The major market players are therefore introducing organic and versatile lip care products to go along with the growing trends. The demand for Sun Protection Factor (SPF) based lip care products from young people is a major trend seen all over the world. Various entertaining and compelling advertisements, which promote the use of lip care products, coupled with celebrity endorsements on TV and social media, will further boost lip care product sales in the years to come.

What are the key factors driving the Lip Care market?

Many manufacturers reported a decline in sales of lip care products in the first months of 2020 as a result of the pandemic, however, in the first quarter of 2021, the market witnessed an increase in demand as more more people were interested in personal care.

An increase in demand for organic lip care products has been observed among consumers, due to a changing trend towards vegan products. Manufacturers have taken this opportunity to capture the market by launching more organic lip care products. For example, in 2020, a well-known American cosmetics brand, Anastasia Beverly Hills launched its first line of vegan and cruelty-free lip balms in the market.

๐’๐ก๐š๐ซ๐ž ๐˜๐จ๐ฎ๐ซ ๐‘๐ž๐ช๐ฎ๐ข๐ซ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ & ๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ: https://www.factmr.com/connectus/sample?flag=RC&rep_id=495

6 Key Lip Care Market Future Outlook 2017-2026 (in terms of volume)

โ€ข Representing more than a third of the market, Asia-Pacific excluding Japan (APEJ) will continue to dominate the global lip care market. North America and Europe will also remain major markets for lip care, with collectively estimated sales of over 290,000,000 units by the end of 2026.
โ€ข Between Latin America and the Middle East and Africa (MEA), the former will account for a comparatively larger market share, while the latter will show a comparatively higher CAGR till 2026.
โ€ข Based on product type, lip balm will account for the largest market share, followed by lip butter. Lip balms will register the fastest sales expansion during the forecast period. The lip conditioner is also expected to show a notable increase in sales through 2026.
โ€ข Department stores and online stores are expected to prevail as rapidly expanding sales channels in the global lip care market, with sales collectively estimated at over 145,000,000 units by the end of 2026 However, modern commerce will continue to account for the largest market shares, followed by convenience store.
โ€ข Based on the price range, the economy and midsize segments will remain dominant in the market. Sales of lip care products in the economy price range will register the highest CAGR in the market through 2026.
โ€ข Sticks will continue to be the preferred type of packaging for lip care products, with sales estimated at over 350,000,000 units by the end of 2026.

Profiled Key Companies
โ€ข Lโ€™Oreal SA
โ€ข Beiersdorf Aktiengesellschaft
โ€ข Avon Products, Inc.
โ€ข Shiseido Co., Ltd.
โ€ข Unilever APIs
โ€ข Kiehlโ€™s
โ€ข Estรฉe Lauder Companies Inc.
โ€ข Burtโ€™s Bees
โ€ข Carmex
โ€ข Blistexยฎ
โ€ข Forest Essentials
โ€ข The body store

๐…๐ฎ๐ฅ๐ฅ ๐€๐œ๐œ๐ž๐ฌ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐ˆ๐ฌ ๐€๐ฏ๐š๐ข๐ฅ๐š๐›๐ฅ๐ž: https://www.factmr.com/checkout/495

Global Lip Care Market by Category
โ€ข By type of product:
o Lip balm
o Lip butter
o Lip conditioner
o Lip Scrub
o Other types of products

โ€ข By price range:
o Economic price range
o Average price range
o Premium price range

โ€ข By Packaging Range:
o Stick wrapping
o Tube packaging
o Cosmetic Packaging
o Other forms of packaging

โ€ข By sales channel:
o Offline sales channel
o Supermarkets/Hypermarkets
o Convenience store
o Departmental stores
o Other sales channel
o Online sales channel
o Company website
o E-commerce platform

โ€ข By region:
o North America
o Latin America
o Europe
o East Asia
o South Asia
o Oceania
o Middle East and Africa

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐›๐ฒ ๐…๐š๐œ๐ญ.๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก: https://www.prnewswire.com/news-releases/engagement-in-adventure-sports-like-skydiving-to-position-wearable-cameras-market-at-us-16-5-billion-by-2028- -301630917.html

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This press release was published on openPR.