The global Lip Care Products market size is expected to be worth around US$ 6.1 billion by 2030, according to a new report by Vision Research Reports.
The global Lip Care Products market size was valued at US$ 5.98 billion in 2020 and is anticipated to grow at a CAGR of 6.9% during forecast period 2021 to 2030.
|Market Size||US$ 6.1 Billion by 2030|
|Growth Rate||CAGR of 6.9% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||L'Oreal S.A.; Unilever; Beiersdorf AG; The Colgate-Palmolive Company; The Estée Lauder Companies, Inc.; Johnson and Johnson; Avon Products, Inc.; Shiseido Co., Ltd.; The Procter & Gamble Company; Revlon, Inc.|
Growing concerns related to prolonged sun exposure, dryness, premature aging, and lip darkening have resulted in an increased demand for high-quality products among consumers. Moreover, there has been an increasing focus on organic and natural lip balms as consumers are seeking safer alternatives that are free from synthetic and toxic chemicals. The ongoing trend of personal grooming and wellness is driving an increasing number of male consumers to adopt these products. The COVID-19 pandemic has massively impacted the sales of lip care & beauty products through major offline retail stores. The demand for lip care products is witnessing rapid growth owing to the growing concerns regarding personal grooming and appearance. An increasing number of beauty & health-conscious consumers are preferring vegan and organic lip care products, which has resulted in increased adoption of these products.
By Product Analysis
The lip balm segment held the largest revenue share of 45.0% in 2020 and is expected to maintain dominance over the forecast period. The growth of the segment is attributed to the increasing number of new product launches by major players to capture a larger consumer base.
other segment, which includes various types of lip butters, masks, and oils, is projected to register the fastest CAGR during the forecast period. Consumers’ attention is gradually inclining towards innovative products, which is driving the others segment.
By Distribution Channel Analysis
The hypermarket & supermarket distribution channel segment accounted for the largest revenue share of more than 48% in 2020 and is estimated to retain the leading position throughout the forecast period. These stores offer significant advantages to consumers, such as low product prices and enhanced visibility of international brands as well as local brands, which makes them a suitable platform for all segments of customers.
The specialty store distribution channel segment is projected to register the fastest CAGR during the forecast period. Consumers choose to buy products from these stores because of the ease of purchase, extensive network, and availability of an exclusive range of products at affordable prices.
The online segment is projected to register the second-fastest CAGR from 2021 to 2030. The product sales through online channels are estimated to witness a rise during the forecast period.
By Regional Analysis
Asia Pacific accounted for the largest revenue share of more than 38.1% in 2020. The regional market is estimated to retain the leading position growing at the fastest CAGR during the forecast period.
Europe is estimated to be the second-largest regional market while Central & South America is projected to register the second-fastest CAGR from 2021 to 2030
The Colgate-Palmolive Company
The Estée Lauder Companies, Inc.
Johnson and Johnson
Avon Products, Inc.
Shiseido Co., Ltd.
The Procter & Gamble Company
By Distribution Channel
Hypermarkets & Supermarkets
Pharmacy & Drug Store
Central & South America
Middle East & Africa
The Lip Care Products market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Lip Care Products market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Lip Care Products market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Lip Care Products market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Lip Care Products market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Lip Care Products capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Lip Care Products by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Lip Care Products market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Lip Care Products market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Lip Care Products market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Lip Care Products industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Lip Care Products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Lip Care Products market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Lip Care Products market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Lip Care Products market. These factors have benefited the growth of the global market for Lip Care Products. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Lip Care Products. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Lip Care Products are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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