The ever-growing importance of grooming, along with rising interest toward presentable appearance among aspirational, urban population for creating positive impression has paved numerous opportunities in the cosmetics sector.
The emerging interest of personal grooming in working professionals in light of rising living standards has led to innovations in various cosmetic products, and lip care is no exception.
A large number of revolutionary lip care products have been launched globally with an aesthetic appeal that peeks attention of consumers, thereby fuelling sales.
Lip care products have gained immense traction among beauty- and health-conscious consumers, as these products provide nourishment and protection to lips against dust, drying effects of cold & wind, and harmful sun rays.
However, chemicals utilized in lip care products are being viewed as harmful for health, thereby resulting into a paradigm shift toward adoption of organic lip care products.
Manufacturers are therefore introducing multi-purpose and organic lip care products in order to stay in line with the growing trend.
Demand for lip care products with sun protection factor among the youth population is another major trend being witnessed worldwide.
Entertaining and convincing advertisements that promote utilization of lip care products, along with endorsements by popular celebrities on TV and social media are further expected to accelerate sales of lip care products in the near future.
A new report compiled by Fact.MR has slated a value CAGR of 4.5% for the global lip care market in the forecast period (2017-2026).
Over 650,000,000 units of lip care products are expected to be sold across the globe by 2026-end.
APEJ to Prevail as Most Lucrative Region in Global Lip Care Market
Asia-Pacific excluding Japan (APEJ) currently dominates the global lip care market and is expected to prevail as the most lucrative region in the market.
Dominance of APEJ in the lip care market can be highly attributed to rising availability of branded lip care products, increased affordability of consumers, and increasing presence of international and local brands in the region.
In addition, robust expansion of the urban population in APEJ countries such as China and India has a pivotal role in growth of the region’s cosmetic sector, which in turn will positively influence rise of the lip care market in the region.
Lip balms are expected to remain sought-after among products in the global lip care market, mainly because of increasing availability of inexpensive and appealing lip balms in economies where price is a major concern.
In addition, utilization of lip balms is highly concentrated among the rapidly growing youth population, which in turn holds positive growth prospects for sales of lip balms in the near future.
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Sticks to Remain Leading Packaging Form for Lip Care Products
Lip care products packed in sticks are highly sought-after among consumers on the back of the convenience offered in carrying and application of the product on lips.
Sticks will therefore remain the leading packaging form used for lip care products, with sales estimated to exceed US$ 2,000 Mn by 2026-end.
Based on price range, economic lip care products will remain preferred by consumers, followed by medium priced lip care products.
Revenues from both these price range segments are expected to collectively hold over four-fifth share of the market by 2026-end.
Modern trade will spearhead the global lip care products market in terms of revenues, on the basis of sales channels.
Key players profiled by Fact.MR’s report include
- L'Oréal S.A.
- Johnson & Johnson Services Inc.
- Beiersdorf Aktiengesellschaft
- Avon Products, Inc.
- Shiseido Co., Ltd.
- The Procter & Gamble Company
- Unilever PLC
- Kao Corporation
- The Estee Lauder Companies Inc.
- Subaru Corporation.
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Lip Care Market Scope Of The Report
Lip care products are witnessing robust adoption worldwide on the back of their protection and nourishment to lips against drying effects caused by cold & wind, harmful sun rays, and dust.
Sales of lip care products will further witness a rise with surging demand for multi-purpose, organic lip care products coupled with rising concerns regarding use of their synthetic counterparts.
This report, compiled by Fact.MR, provides in-depth analysis of the global lip care market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global lip care market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis.
Lip care manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report.
This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to lip care.
The report commences with a brief information of the global lip care market. This executive summary sets the tone for the rest of the report, providing users the scope of the report.
The executive summary includes important facts and statistics on the global lip care market.
The next section offers an overview of the global lip care market. This comprises an introduction to the market, along with a standard definition of the product – lip care.
In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives.
Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global lip care market, the report provides updates about market opportunities, which can benefit leading manufacturers of lip care.
With continuous evolution of the consumer goods sector, keeping a record of latest developments and trends is fundamental for lip care manufacturers to formulate key business strategies.
Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering the wide scope of the global lip care market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast.
The lip care market has been categorized on the basis of packaging form, price range, sales channel, product type, and region.
This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
The report’s last section comprises of the global lip care market competitive landscape, to provide readers with the dashboard view of company analysis and market players.
This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global lip care market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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