The global lip care products market size reached US$ 2.2 Billion in 2020. Looking forward, the market expects to reach a value of US$ 2.8 Billion by 2026, according to the latest report by IMARC Group.
Lip care products are an essential part of the personal care regime as they are used to nourish the lips of the users. They are utilized to protect the lips from external exposures, such as dry, cold temperatures and ultraviolet (UV) radiations, and provide moisture. These products primarily consist of beeswax, camphor, paraffin, lanolin, almond oil, aloe vera, petroleum jelly, dyes, flavors, phenols, sunscreens, salicylic acid and fragrances. Regular application of these products offers a soothing effect to the lips and promotes fast healing of chapped lips. They are also applied to make the lips soft, supple and plump as well as to render a definitive color to them. Some of the most commonly used lip care products include balms, butter, gloss and masks.
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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 Market Trends:
The global market is primarily driven by the rising trend of personal grooming among users. Shifting lifestyle patterns and the increasing influence of social media has led the masses to become conscious of their overall appearance. This has impelled them to follow skincare regimes on a regular basis, thereby creating a positive outlook for the market.
In addition to this, the growing preference of the male population toward personal care products is significantly contributing to the market growth. Moreover, the rising number of smokers on the global level is driving the market growth. Smoking is often associated with darkening, chapping and wrinkling of the lips, which has increased the uptake of lip care products. The advent of various organic and natural variants in the market has also contributed to their widespread popularity. The easy availability of a wide range of lip care products on numerous e-commerce platforms at affordable and discounted prices, along with the continual launch of diversified products, including premium variants, by the industry players, are some of the other factors that are driving the market further.
Lip Care Products Market Coverage and Segmentation 2021-2026:
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)
The Clorox Company
Unilever NV (UN)
Carma Labs, Inc.
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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