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Global Lip Care Products Market Size, 2025 | Industry Trends Report

Lip Care Products Market Analysis Report By Product, By Gender, By Distribution Channel And Segment Forecasts From 2019 To 2025

Report ID: MN17619492  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global lip care products market size was accounted for USD 712.8 million, in 2018. It is estimated to grow at a CAGR of 7.2% during the forecast period, 2019 to 2025. Nowadays, people are becoming highly conscious about personal grooming and personal care, which is driving the market growth. Long term exposure to sun, dehydration, deficiency of minerals and vitamins, and allergies are some of the reasons for dark, chapped, and wrinkled lips. This factor is expected to proliferate product demand over the forecast period.

Consumers including both men and women prefer lip care products to protect the skin from further damage. Petrol and diesel vehicles emit hazardous gases such as nitrogen oxides, sulfur dioxide, carbon monoxide, and many other such gases which increase the level of air pollution. This damages the skin of lips. Therefore, such factors are expected to boost the product demand over the forecast period. 

U.S. lip care products market

People who smoke more frequently face the problem of chapped, dark, dry, and wrinkled lips. Hence, there is high demand for lip care products among such people. Centers for Disease Control and Prevention reported that 14% of adults in U.S. smoke cigarettes. This is anticipated to impact positively on market growth from 2019 to 2025.

Key players in this industry are investing on strategic initiatives such as product innovation and research and development (R&D) to expand their market share and cater to changing preferences of consumers. Moreover, benefits of natural and organic ingredients have influenced the consumers to adopt herbal and organic products. Therefore, manufacturers are incorporating natural ingredients such as essential oils, beeswax, shea butter, camphor, green tea extract, vitamin E, and aloe vera extract in the product to cater to this shifting trend. In addition, wide range of products is easily available across different distribution channels. This is projected to proliferate the product demand during the forecast period.

Product Insights

By product the lip care product market is further divided into three segments namely non-medicated, therapeutic & medicated, and sun protection. In 2018, the non-medicated product segment held the largest share of over 65.0% owing to growing popularity of personal care products and increasing awareness regarding hygiene and health. Furthermore, these products are blended with natural ingredients and anti-oxidants that help in curing problems like chapped, dry, and wrinkled lips.

The sun protection product segment is projected to ascend at the fastest CAGR of 12.8% over the forecast period owing to growing popularity of products that keep the skin protected from harmful rays of sun. Sun protection factor (SPF) helps in protecting the skin from sun damage. In addition, ingredients such as avobenzone, octinoxate, cinnimate, zinc oxide, titanium dioxide, and oxybenzone act as sunscreen, thus, protect the skin from extensive skin damage.

Gender Insights

Females are the prominent customers for lip care products and the segment accounted for the largest share of over 75% in 2018 owing to increasing population of working women and rising spending on personal care products. Moreover, increasing participation of women in workforce and corporate sector is also influencing consumers to buy such products. The male segment is projected to grow at the fastest CAGR of 7.6% over the forecast period owing to rising awareness about personal men’s grooming products and rising beauty consciousness among men across the globe  

Distribution Channel Insights

The segment of offline distribution channel held the largest revenue share of over 75% in 2018. Number of retail stores, exclusive brand outlets, and multi brand outlets are increasing across different regions. Manufacturers are opening their retail stores to reach the large consumer base. Moreover, large numbers of offline retail stores are being established in emerging economies such as China, Nepal, Indonesia, Thailand, Vietnam, Bangladesh, and India. This is anticipated to boost the sales of lip care products through offline channels over the forecast period. 

Global lip care products market

The segment of online distribution channel is projected to grow at the highest CAGR of 7.6% over the forecast period. Ease of accessibility and availability of wide range of products across the online retail stores is driving the growth. New entrants with weaker distribution network can easily enter the market through online platforms, Furthermore, lucrative discounts, cashbacks, and offers are expected to further propel the market growth through this segment over the forecast period.

Regional Insights

In 2018, Asia Pacific held the largest market share of over 35% across the global lip care products market. This growth is attributed to rising demand for personal grooming and beauty products. Some of the prominent markets for personal care products and beauty products in this region are India, Japan, China, and South Korea. Moreover, consumers in countries such as India and South Korea get influenced by celebrities. This is expected to propel the product demand. Furthermore, effects of fluctuating atmospheric temperature and long term exposure to sun are anticipated to impact positively to the market growth from 2019 to 2025.

North America is projected to ascend at the fastest growth rate from 2019 to 2025 owing to growing popularity of these products among the consumers in countries including Canada and U.S. Moreover, benefits of natural and organic products are influencing large number of people. This is anticipated to drive the market growth in the forthcoming years.  

Lip Care Products Market Share Insights

Presence of leading players such as Revlon, Inc.; L'Oréal S.A.; Kao Corporation; Pfizer Inc.; The Himalaya Drug Company; Beiersdorf AG; The Procter & Gamble Company; The Clorox Company; and Avon Products, Inc. has made the market highly competitive in nature. Availability of variety of products from different brands and presence of large consumer base are the factors enforcing the leading manufacturers to adopt new trends and develop new products.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage      

U.S., U.K., Germany, France, China, South Korea, India, Brazil

Country Scope

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global lip care products market report based on product, gender, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Non-medicated
    • Therapeutic & Medicated
    • Sun Protection

• Gender Outlook (Revenue, USD Million, 2015 - 2025)
    • Female
    • Male

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • South Korea
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)

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