Lip Care Products Market Is Estimated To Grow With A CAGR of 6.9% from 2021-2030

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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.

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Lip Care Products Market (By Product: Lip Balm, Lip Scrub, Others; By Distribution Channel: Hypermarkets & Supermarkets, Pharmacy & Drug Store, Specialty Store, Online) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size US$ 6.1 Billion by 2030
Growth Rate CAGR of 6.9% From 2021 to 2030
Base Year 2021
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.

Growth Factors

 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

Key Players

  • 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.

Market Segmentation

  • By Product
    • Lip Balm
    • Lip Scrub
    • Others
  • By Distribution Channel
    • Hypermarkets & Supermarkets
    • Pharmacy & Drug Store
    • Specialty Store
    • Online
    • Others
  • Regional
    • North America
      • U.S.
    • Europe
      •  Germany
      •  U.K.
      • France
    • Asia Pacific
      •  China
      •  Japan
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa
      • South Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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