Increasing working people, increasing disposable income, and increasing incidence of lip-related disorders are some key factors driving market revenue growth
The global lip care market size was USD 2,960.0 Million in 2021 and is expected to register a revenue CAGR of 4.9% over the forecast period, according to the latest report by Reports and Data. Rising awareness of healthcare and grooming among both male and female customers are key factors expected to drive revenue growth of the market to some extent. The need for the product is estimated to grow due to rising lip care issues such as darkening, chapping, dividing, and wrinkles brought on by allergies, dehydration, vitamin, and nutritional shortages, sun damage, and other factors. The market is expected to continue to be driven by growing awareness of the advantages of using skin and lip protection products.
Lip care products are primarily used by women, however, due to a growing trend in male grooming, the market has experienced a considerable increase in male interest. Long-term, uncovered exposure to sunlight can cause actinic cheilitis, wrinkles, and accelerated aging of the lips. Customers’ demand for lip care products that provide sun protection has increased as a result of this. A larger consumer base has been created as a result of these producers’ increasing focus on product innovations, the development of long-term and quicker formulae, and appealing product lines for teenagers.
Smoking cigarettes is a bad habit that damages lips and causes specific issues like discoloration, chapping, and wrinkles. This is just one of several significant variables driving demand for lip care products. Lip care product manufacturers invest in R&D to provide creative products that can meet changing client needs, which is expected to drive revenue growth of the market.
Companies profiled in the market report are Avon Products, Inc., Beiersdorf AG, Shiseido Company, Limited, Revlon Consumer Products Corporation, Unilever plc, Kao Corporation, Bayer AG, The Clorox Company, eos Products, LLC, and Carma Labs Inc.
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Some Key Highlights From the Report
- The lip balm segment revenue is expected to account for the largest share over the forecast period. People use lip balm, a smooth, wax-like substance, to moisturize and soothe the pain of dry or chapped lips. The thin skin of the lips makes them more prone to dryness than other body parts’ skin. The lips are protected from the wind, dry air, and particularly cold conditions by this substance, which resembles wax. Both men and women regularly choose lip balms to cure chapped lips throughout the winter.
- The non-medicated segment revenue is expected to register a rapid growth rate over the forecast period. Non-medicated lip care products are those that do not contain any medications. Emollients, moisturizers, and other ingredients that help to enhance the lips’ appearance and health are frequently included. With the aid of these items, lips can be protected from the sun and wind. They also provide comfort by moisturizing, soothing, and decreasing the effects of cold temperatures on the lips. They also reduce dryness in winter. Non-medicated lip care products including lip butter, lip conditioners, and lip balms provide shine and moisture to the lips.
- The hypermarkets/supermarkets segment accounted for the largest revenue share in 2021, due to their affordable product pricing and increased visibility of both local and international brands, these stores are an excellent choice for shoppers from all demographic groups.
- The market in the Asia Pacific is expected to register the largest revenue share in the global lip care market over the forecast period. Demand for these products is rising as more consumers suffer problems including lip pigmentation and discoloration, notably in India due to excessive sun exposure. Growing awareness of personal care and grooming products, celebrity endorsements, and the influence of social media platforms are some factors driving revenue growth of the market. Furthermore, rising affordability and disposable income have influenced consumers’ inclination to purchase these products through retail stores or pharmacies due to their easy availability. Major countries for personal care products and cosmetics in the region include India, China, South Korea, and Japan. One of the key reasons influencing the cosmetics and skincare sector in the region is the K-beauty trend, which further drives revenue growth of the market.
For the purpose of this report, Reports and Data has segmented the global lip care market based on type, product, distribution channel, price range, packaging form, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
- Lip Balm
- Lip Butter
- Lip Conditioner
- Lip Scrub
Product Outlook (Revenue, USD Million; 2019-2030)
- Medicated & Therapeutic
- Sun Protection
- Non-Medicated
Distribution Channel Outlook (Revenue, USD Million; 2019-2030)
- Hypermarkets/Supermarkets
- Drug Stores
- Specialty Stores
- Online Stores
Price Range Outlook (Revenue, USD Million; 2019-2030)
- Premium
- Medium
- Low
Packaging Form Outlook (Revenue, USD Million; 2019-2030)
- Stick Packaging
- Tube Packaging
- Cosmetic Packaging
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Key Advantages of Lip Care Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Lip Care industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
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