The global lip care products market size reached US$ 2.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.9 Billion by 2027, exhibiting a CAGR of 4.6% during 2022-2027.
Lip care products nourish the lips by moisturizing them and protecting them from external elements such as extreme environments and ultraviolet (UV) radiation. The regular application of these products provides a soothing effect and promotes fast healing of chapped lips. They primarily consist of camphor, beeswax, paraffin, almond oil, aloe vera, lanolin, petroleum jelly, dyes, flavors, phenols, sunscreens, salicylic acid, and fragrances. In recent years, lip care products have become an essential part of the personal care regime followed by individuals as they keep the lips soft and supple while rendering a definitive color.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Lip Care Products Industry Trends and Drivers:
The market is primarily driven by the rising trend of personal grooming among individuals. Nowadays, the changing lifestyle patterns and the increasing influence of social media have encouraged individuals to become conscious of their overall appearance and follow skincare regimes on a regular basis. In addition, the growing inclination of the male population toward personal care products represents another major growth-inducing factor. Besides this, due to the rising consumer awareness, various key players are introducing organic lip care products. They are also launching premium product variants in different flavors, such as vanilla, mango and strawberry, that also add shimmer to the lips. This, coupled with the easy availability of a wide range of lip care products on e-commerce platforms at affordable and discounted prices, is positively influencing the market growth. Moreover, the rising number of smokers are increasingly adopting long-lasting lip care formulas as smoking is associated with darkening, chapping, and wrinkling of the lips.
Lip Care Products Market Coverage and Segmentation 2022-2027:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the leading players operating in the market are:
KAO CORP (KAOCF)
Revlon, Inc. New (REV)
Beiersdorf AG
The Clorox Company
Unilever NV (UN)
Carma Labs, Inc.
L’OREAL (OR.PA)
BAYER AG (BAYRY)
EOS Products, LLC
Avon Products, Inc.
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Key Insights from the Report:
- Based on the product type, the market has been divided into non-medicated, medicated and therapeutic, and sun protection. Amongst these, non-medicated lip care products represent the most preferred segment.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty retailers, pharmacies and drug stores, online stores and others. Currently, supermarkets and hypermarkets exhibit a clear dominance in the market.
- Based on the geographical front, Asia Pacific holds the leading position in the market. Other major regions include North America, Europe, Middle East and Africa, and Latin America.
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