Lipstick Market Size, Share, Growth and Forecast 2022-2029

 

Lipstick Market was valued at USD 12.4 billion in 2021 and is estimated to reach USD 19.6 billion in 2029, growing at a CAGR of 5.9% during 2022-2029.

The factors driving the growth of Lipstick Market includes growing consciousness amongst consumers about maintaining physical appearance, rising influence of social media platforms such as Instagram and Facebook, introduction of lipsticks with customizable shades, expansion of the e-commerce industry and increasing preference for organic cosmetic products around the world. Moreover, increased adoption of advanced technologies by manufacturers, rise in the launch of innovative products, growing demand for long wearing and matte lipsticks, improvements in the living standards and rapid urbanization, are some of the additional factors supplementing the Lipstick Market share. In addition, the increasing investments by major corporations on research and development, strategic mergers, and collaborations between key companies and growing disposable, are further contributing towards the market growth.

However, growth of the Lipstick Market is hindered attributed to increasing availability of counterfeit products.

The major players operating in the market are Oriflame Holding AG, Revlon Inc., Inglot Sp. Z. O. O., L’Oréal, Shiseido Company Limited, The Estée Lauder Companies Inc., P&G, Avon Products Inc., CHANEL and Markwins Beauty Brands, Inc., among others.

Based on Product Type, the Stick segment is predicted to capture the largest market share during the forecast period

Stick based lipsticks are easy to carry along with rising demand for matte finish and glitter finish products, are propelling Global Lipstick Market.

Based on Finish, the Matte segment is projected to dominate the market over the forecast period

Rising consumers preference for dry lip colors due to their long-lasting and natural look properties along with rise in the launch of innovative products, are some of the factors responsible for the segment’s growth.

Based on Region, the European region is anticipated to hold the highest market share during the forecast period

Presence of the leading players such as Inglot Sp. Z. O. O., L’Oréal, and Oriflame Holding AG, growing influence of social media platforms, rapid industrialization, rising adoption of advanced technologies by manufacturers and high per capita incomes, are some of the important factors augmenting the Lipstick Market size in European region.

Market Segmentation

Segmentation by Product Type

  • Stick
  • Liquid
  • Others

Segmentation by Finish

  • Cream
  • Matte
  • Satin
  • Gloss
  • Others

Segmentation by Distribution Channel

  • Online Stores
  • Supermarkets
  • Cosmetic Stores
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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