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North America Lip Care Products Market to Reach US$ 728 Million by 2024, Spurred by Introduction of Specialty Products

According to the latest report by IMARC Group, titled “North America Lip Care Products Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the North America Lip Care market size reached US$ 589 Million in 2018. Lip care products nourish the lips by moisturizing them and protecting them from external elements such as dry and cold environments and ultraviolet (UV) radiation. Their regular application also helps in keeping the lips soft and supple while rendering a definitive color. Some of the most common ingredients used in these products include shea butter, almond oil, petroleum jelly, beeswax, camphor, lanolin, paraffin, petrolatum, aloe vera, colorants, fragrance and sunscreen. There is a wide variety of lip care products available in the market, including balms, gloss, masks and butter.

North America Lip Care Products Market:

The rising trends of personal care and grooming in North America have primarily contributed to the market growth. Moreover, the growing influence of international skincare regimes, such as Korean, Japanese, Australian and Scandinavian beauty trends, have increased consumer focus on their appearance. In addition to this, manufacturers are constantly engaging in the development of variants with long-lasting formulas. They are also introducing organic and natural lip balms as well as various specialty products in the market. For instance, Bee Free® Vegan Lip Balm by Eco Lips is made without animal-based ingredients, such as beeswax, carmine and lanoline. This cruelty-free product is rapidly gaining traction among vegan consumers as well as individuals allergic to these ingredients. On account of the aforementioned factors, the market value is expected to reach US$ 728 Million by 2024, expanding at a CAGR of around 4% during 2019-2024.

Market Summary:

  • On the basis of the category, the market has been divided into non-medicated, medicated and therapeutic, and sun protection. Among these, the non-medicated category accounts for the largest market share.
  • Based on the product type, lip balms exhibit a clear dominance in the market. Other major segments include lip butter, lip scrubs, lip oil and others.
  • On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, pharmacies and drug stores and others. At present, supermarkets and hypermarkets represent the largest segment.
  • On the basis of the country, the United States holds the leading position in the market, followed by Canada.
  • The competitive landscape of the market has also been examined with the detailed profiles of the key players. Some of the major players operating in the market include ChapStick (Pfizer, Inc.), Burt’s Bees Products Company (The Clorox Company), Carmex (Carma Laboratories, Inc.), Blistex, Inc, and eos Products, LLC.

 

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