Lip Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Lip Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global lip care products market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.77% during 2023-2028.

Lip care products refer to cosmetics that provide nourishment to the lips and protect them against external elements, such as cold temperature, dry wind and UV radiation. These products are mainly composed of beeswax or carnauba wax, camphor, cetyl alcohol, lanolin, paraffin and petrolatum. Some varieties of lip care products also contain dyes, flavors, fragrances, phenol, salicylic acid and sunscreens. Nowadays, manufacturers are introducing a wide variety of lip care products ranging from flavored balms to products containing organic ingredients to attract a wider consumer base. They are also offering lip care formulas in user-friendly packaging options, such as jars, tubes, sticks and roll-ons, for their convenient application and carriage.

Although females have always been the major consumer of lip care products, there has been a surge in male consumers in recent years, owing to the growing trend of personal grooming among men. Apart from this, as the prolonged, unprotected exposure of lips to the sun can result in wrinkling, premature aging or actinic cheilitis, it has resulted in an increased demand for sun protection lip care products among consumers. Besides this, there has been an increasing focus of manufacturers on product innovations, the development of long-lasting and fast-acting formulas and attractive product ranges for teenagers that have helped in creating a larger consumer base. For instance, they have introduced various flavored balms, like vanilla, mango and strawberry that add shimmer or shine to the lips, along with providing moisturization.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global lip care products market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and distribution channel.

Breakup by Product Type:

Non-Medicated
Medicated and Therapeutic
Sun Protection

Amongst these, non-medicated lip care products represent the most popular product type worldwide.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Specialty Retailers
Pharmacies and Drug Stores
Online Stores
Others

At present, lip care products are majorly distributed through supermarkets and hypermarkets, owing to the availability of different brands, larger shelf-space and convenience of choosing the product.

Regional Insights:

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Latin America

Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others


Middle East and Africa

Turkey
Saudi Arabia
Iran
United Arab Emirates
Others
 



Region-wise, Asia Pacific holds the leading position in the market due to the rapidly changing fashion and beauty trends in the region.

Competitive Landscape:

The market is highly fragmented in nature, with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

Kao Corporation
Revlon, Inc.
Beiersdorf AG
The Clorox Company
Unilever N.V./PLC
Carma Labs, Inc.
L'Oréal S.A.
Bayer AG
EOS Products, LLC
Avon Products, Inc.

Key Questions Answered in This Report:

What is the size of the global lip care products market?
What has been the impact of COVID-19 on the global lip care products market?
What are the key factors driving the global lip care products market?
What is the breakup of the global lip care products market based on the product type?
What is the breakup of the global lip care products market based on the distribution channel?
What are the key regions in the global lip care products market?
Who are the key companies/players in the global lip care products market?