IMARC Group’s latest report, titled “Lip Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global lip care products market size reached US$ 2.3 Billion in 2022. 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.
Global Lip Care Products Market Trends:
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. On account of these factors, IMARC Group expects the market value to reach US$ 3.1 Billion by 2028, expanding at a CAGR of 4.77% during the forecast period (2023-2028).
- On the basis of the product type, the market has been segregated into non-medicated, medicated and therapeutic, and sun protection. Amongst these, non-medicated lip care products exhibit a clear dominance in the market.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty retailers, pharmacies and drug stores, online stores, and others. At present, supermarkets and hypermarkets account for the majority of the global market share.
- Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) holds the leading position in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates, and others).
- The competitive landscape of the market has also been analyzed in the report, with some of the key players being Kao Corporation, Revlon, Inc., Beiersdorf AG, The Clorox Company, Unilever PLC, Carma Labs, Inc., L’Oréal S.A., Bayer AG, EOS Products, LLC, and Avon Products, Inc.
|Base Year of the Analysis
||Product Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Germany, France, United Kingdom, Italy, Spain, Russia, United States, Canada, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
||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 and Avon Products, Inc.
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