Global Lipstick Market to Reach US$ 14.2 Billion by 2032, Impelled by Increasing Purchasing Power of Working Female Population

March 10, 2023 | Retail

According to the latest report by IMARC Group, titled "Lipstick Market Report by Product Type (Satin/Sheer, Matte, Crème, Gloss, Metallic, Shimmer, and Others), Colour (Red, Pink, Nude, Maroon, and Others), Applicator (Lipstick Cream, Lipstick Palette, Lipstick Pencil, Lipstick Tube/Stick, Liquid Lipstick), Age Group (Under 18, 18-30, 30-40, 40-50, Above 50), Gender (Female, Unisex), Distribution Channel (Departmental/Grocery Stores, Multi Branded Retail Stores, Supermarkets and Hypermarkets, Exclusive Retail Stores, Online Channels, and Others), and Region 2024-2032," the global lipstick market reached a value of US$ 9.2 Billion in 2023. Lipstick is a cosmetic product that has been used for thousands of years to enhance the appearance of lips. It is made from a combination of waxes, oils, pigments, and other ingredients that help to moisturize and color the lips. Lipstick is one of the most popular cosmetic products worldwide. It is available in a wide range of colors, textures, and finishes, making it easy for women to find a product that suits their style. In addition, the texture and finish of lipstick can also be customized, with options ranging from glossy and moisturizing to matte and long-lasting. Lipstick is widely utilized for its ability to enhance the appearance of the lips. It can be used to create the illusion of fuller, more defined lips while correcting any imperfections, such as uneven pigmentation. It has become essential to many individual’s personal style and identity.

Global Lipstick Market Trends:

The global market is majorly driven by the growing demand for cosmetics products. In line with this, the increasing consumer interest in personal grooming and beauty is significantly contributing to the market growth. Furthermore, the rising personal disposable income levels and significant growth of the e-commerce industry are positively influencing the market. Apart from this, the escalating female workforce and the emergence of organic cosmetics are catalyzing the market. Moreover, the increasing awareness about the benefits of organic cosmetics is propelling the demand for natural and organic lip color products. Besides, various key players are introducing a large number of products in liquid form as it is well suited for matte and glitter lip colors. This, in turn, is expected to offer numerous opportunities for market expansion. Additionally, the rising appearance consciousness among working women and the growing celebrity endorsements are favoring the market. Some of the other factors driving the market include the widespread availability of the product, rapid urbanization, product premiumization, and new product launches. On account of the factors above, the market is anticipated to reach a value of US$ 14.2 Billion by 2032, exhibiting a CAGR of 4.8% during 2024-2032.

Market Summary:

On the basis of the product type, the market has been categorized into satin/sheer, matte, crème, gloss, metallic, shimmer, and others.
Based on the colour, the market has been classified into red, pink, nude, maroon, and others.
Based on the applicator, the market has been segmented into lipstick cream, lipstick palette, lipstick pencil, lipstick tube/stick, and liquid lipstick.
Based on the age group, the market has been categorized into under 18, 18-30, 30-40, 40-50, and above 50.
Based on gender, the market has been classified into female and unisex.
Based on the distribution channel, the market has been segmented into departmental/grocery stores, multi branded retail stores, supermarkets and hypermarkets, exclusive retail stores, online channels, and others.
On the basis of the region, the market has been divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include L'Oréal SA, Procter & Gamble (P&G) Company, Avon Products, Inc., Shiseido Company, Limited, LVMH Moët Hennessy – Louis Vuitton SE, Estee Lauder Companies Inc., Oriflame Holding AG, Revlon, Inc., Markwins Beauty Brands, Inc., Stargazer Products, Coty Inc., The Clorox Company, DHC Corporation, Johnson& Johnson, Chanel S.A., Inglot Cosmetics, Unilever Group and Rohto Pharmaceutical Co., Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Colour, Applicator, Age Group, Gender, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	L'Oréal SA, Procter & Gamble (P&G) Company, Avon Products, Inc., Shiseido Company, Limited, LVMH Moët Hennessy – Louis Vuitton SE, Estee Lauder Companies Inc., Oriflame Holding AG, Revlon, Inc., Markwins Beauty Brands, Inc., Stargazer Products, Coty Inc., The Clorox Company, DHC Corporation, Johnson& Johnson, Chanel S.A., Inglot Cosmetics, Unilever Group and Rohto Pharmaceutical Co., Ltd.
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Global Lipstick Market to Reach US$ 14.2 Billion by 2032, Impelled by Increasing Purchasing Power of Working Female Population

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