Lip Care Products Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| CAGR | 4.75 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Lip Care Products Market Analysis
The lip care products market is projected to register a CAGR of 4.75% during the forecast period, 2022-2027.
The increasing awareness of the customers relating to their physical appearance is driving the market for lip care products globally. Millennials are constantly focused on increasing their use of personal care products including lip care products, increasing the demand in the market. Alongside, their easy accessibility in different online, as well as offline distribution channels, is escalating the market demand further.
However, due to COVID-19, the demand for lip care products was affected temporarily in the market, owing to the shut down of offline retail channels and strict government restrictions on social gatherings in different parts of the world. Moreover, the trade restrictions in different places also affected the supply chain of lip care products. To gain consumer attention, different players in the market introduced new products with innovative formulations. For instance, in March 2020, Hello CBD, a CBD-infused personal care brand introduced two new vegan lip balms in the United States. The product is prepared from coconut oil and olive oil and is available in vanilla mint and strawberry flavors. The product is distributed exclusively by Ulta Beauty, a beauty salon company in the United States, through its online as well as offline stores, to widen the reach of the products to the customers.
Additionally, the rising lip care problems, such as chapping, darkening, wrinkles, and splitting, caused by various reasons like allergies, dehydration, sun damage, and vitamin and mineral deficiencies, are anticipated to propel the market demand for lip care products further. Unhealthy lifestyle habits like smoking are increasing darker and wrinkled lip concerns, thereby, driving the growth of the market.
Lip Care Products Market Trends
This section covers the major market trends shaping the Lip Care Products Market according to our research experts:
Rising Popularity of Organic Lip Care Products
The rising popularity of organic skin care products is influencing the high consumer preference for organic lip care products. Consumers are preferring lip care products having natural, organic, and clean-label ingredients, in comparison to synthetic and hazardous chemical-containing products. The changing lifestyle and increased smoking among modern individuals are driving the demand for organic lip care products. Consumers are preferring these products to nourish and repair their pale and darker lips caused due to smoking and various other reasons. This has led the major players in the market to formulate products with natural ingredients, along with mentioning their ethical and sustainable sourcing. Alongside, consumers are becoming more and more environment-friendly. Moreover, the preference for artisanal sustainable packaging, along with natural products is growing in the market. For instance, in July 2022, Last Forest introduced its range of new beeswax lip balm in India. The lip balms are prepared from 100% organic beeswax and available in different flavors like mint, chocolate, and strawberry. The product is made available in glass jars and comes in artisanal cardboard gift packaging.
Asia-Pacific is the Fastest Growing Region
The lip care products market is escalating in the Asia-Pacific region, owing to the increasing attention of the consumers towards their physical appearance. The increasing spending of customers on personal care products, along with beauty products is driving the demand for different lip care products like lip balm, lip scrub, lip oil, and sleeping lip mask, among others. Moreover, the innovation in the skin and personal care industry is supporting the market penetration of advanced categories like sleeping masks and scrubs. Many key players in the market are also launching various products, in collaboration with other companies, leading to offering huge variety to the customers. Alongside, the growing demand has led new players to enter the market, thereby, driving competition in the regional market. These new entrants are focusing on celebrity endorsement and promotions across social media platforms to reach a wider consumer base. For instance, in December 2021, Nayanthara, an actress in the Indian film industry, launched a range of lip balms under the company - The Lip Balm Company. This product launch was in collaboration with a dermatologist, Dr. Renita Rajan. The company focused on developing gender-neutral lip balms, owing to the rising number of men showing interest in beauty products.
Lip Care Products Industry Overview
The global lip care products market is highly competitive with the presence of different global as well as regional players in the market. All these players focus on different strategies like product innovation, merger and acquisition, expansion, and partnership, to enhance their reach in the market and grab customers’ attention. Many players are marketing their products in the market by partnering with companies from different industries. For instance, in August 2022, Pilgrim, a direct-to-customer beauty and personal care brand announced its partnership with MyFroyoLand, a premium frozen yogurt company, in India. The company promoted its Squalane lip care range as a part of this campaign. Major players in the market include L’Oréal SA, LVMH, The Estee Lauder Companies Inc., Unilever PLC, and Beiersdorf AG, among others, who hold a significant share of the market studied, expanding their visibility as well as a portfolio of offerings in the market, thereby, escalating the growth of the market.
Lip Care Products Market Leaders
L’Oréal SA
Unilever PLC
Beiersdorf AG
The Estee Lauder Companies Inc.
LVMH Moët Hennessy Louis Vuitton
*Disclaimer: Major Players sorted in no particular order
Lip Care Products Market News
- In April 2022, e.l.f. cosmetics partnered with Dunkin’, an American foodservice brand, to launch a limited-edition makeup collection, which was inspired by Dunkin’ coffee and donuts. This makeup collection consisted of coffee lip scrub, which was sugar-based and java-scented.
- In March 2022, Pilgrim, a direct-to-customer beauty and personal care brand launched a new line of lip care range namely, Squalane in India. The product was made available in different flavors having pomegranate extract, cocoa butter, and shea butter.
- In November 2021, Amorepacific, under its Laneige lip care range, launched Amorepacific Lip Sleeping Mask Purple Edition, celebrating the ‘BTS PERMISSION TO DANCE ON STAGE’ tour. The product is available in Amorepacific’s official online store, Laneige’s official United States website, Sephora online store, and different offline stores as well.
Lip Care Products Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Lip Balms
5.1.2 Lip Scrubs
5.1.3 Lip Masks
5.1.4 Others
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Pharmacies/Drug Stores
5.2.3 Specialty Stores
5.2.4 Online Retail Stores
5.2.5 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Italy
5.3.2.4 France
5.3.2.5 Spain
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middel East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Strategies Adopted By Leading Players
6.3 Company Profiles
6.3.1 L'Oréal SA
6.3.2 Unilever PLC
6.3.3 Beiersdorf AG
6.3.4 Revlon Inc.
6.3.5 The Estee Lauder Companies Inc.
6.3.6 LVMH
6.3.7 The Himalaya Drug Company
6.3.8 Natura & Co.
6.3.9 L'Occitane International SA
6.3.10 Bayer AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Lip Care Products Industry Segmentation
Lip care products refer to the different sets of products that are primarily used to treat chapped and dried lips and moisturize them. Along with this, these products are also used to lighten dark lips. The global lip care products market is segmented by type, distribution channel, and geography. By type, the market is segmented into lip balms, lip scrubs, lip masks, and others. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies/drug stores, specialty stores, online retail stores, and other distribution channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, and Middle East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Type | |
| Lip Balms | |
| Lip Scrubs | |
| Lip Masks | |
| Others |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Pharmacies/Drug Stores | |
| Specialty Stores | |
| Online Retail Stores | |
| Others |
| Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Lip Care Products Market Research FAQs
What is the current Lip Care Products Market size?
The Lip Care Products Market is projected to register a CAGR of 4.75% during the forecast period (2023-2028).
Who are the key players in Lip Care Products Market?
L’Oréal SA, Unilever PLC, Beiersdorf AG, The Estee Lauder Companies Inc. and LVMH Moët Hennessy Louis Vuitton are the major companies operating in the Lip Care Products Market.
Which is the fastest growing region in Lip Care Products Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Lip Care Products Market?
In 2023, the North America accounts for the largest market share in the Lip Care Products Market.
Lip Care Products Industry Report
Statistics for the 2023 Lip Care Products market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Lip Care Products analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
