Lipstick Market

Global Lipstick Market Size (2024 to 2029)

The global lipstick market is predicted to grow at a CAGR of 6.6% from 2024 to 2029 and the market size is expected to be valued at USD 14.40 billion by 2029 from USD 10.46 billion in 2024.

Current Scenario of the Global Lipstick Market

Lipstick can be characterized as a cosmetic item that is comprised of oils, waxes, shades, and emollients. This cosmetic item is applied to have the option to give tone and protection, just as a surface to the lips. Lipsticks generally, in view of the organization, arrived in an assortment of tones. Lipstick is a cosmetic item containing shades, oils, waxes, and emollients that apply to shade and surface and protect the lips. Lipsticks additionally go about as a sort of lip ointment by giving lip emollients by adding the two hydrations just as shading to the lips. Lipstick is frequently, however, not only worn by ladies and can be characterized as one of the most ordinarily utilized cosmetics items on the globe.

The growing awareness with respect to individual makeup and appearance among youthful female purchasers all over the world is anticipated to be one of the key drivers for the lipstick market. Besides, expanding the buying power of the female population because of the rising ladies' workforce is required to fuel the item's interest sooner rather than later. Rising well-being awareness among the purchasers and mindfulness about the advantages of natural makeup are boosting the interest in regular and natural lip shading items. More concentration of antioxidants in normal and natural items helps in fixing the damage to skin cells. This useful component is required to incite the item's utilization soon. Organizations, including Antipodes and Origins Natural Resources, Inc., dispatched natural colors based on flowers in 2021.

Over recent years, lip powder has received huge visibility all over the world. The matte finish and lightweight highlights of this item have been driving the market. The presence of coconut oil, glycerine, and vitamin E that hydrates skin is a key factor driving the item's interest. Besides, it remains longer than customary lipsticks.

Impact of COVID-19 on the global lipstick market

The Beauty and Personal Care (BPC) industry has seen a decrease due to the rise of the coronavirus pandemic, yet the effect isn't as extreme as observed in different businesses. Even though optional spending has decreased, the BPC market has seen a consumer behavioral shift towards protected and dependable items. Items that have a lower danger of pollution inferable from automation and longer time spans of usability helping the rationing of purchaser supplies are required to come out soon. Brands are additionally putting efforts into improving their supply chain by fortifying their E-trade channel alongside offering at-home well-being items, which are exceptionally fit in this unstable business environment.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Lipstick Market By Product

The shimmer segment held 35% of the global market share in 2022 and is expected to grow at a healthy CAGR during the forecast period.

The high moisture component in this item makes it more agreeable to wear on lips. Sparkle-completed lip tones are likewise simpler to eliminate when contrasted with matte cream and long-wearing lip tones. Accordingly, this item has gained huge visibility and popularity as ordinary wear cosmetics. Sparkle lip tones are reasonable for both daytime and evening looks. Besides, the manufacturers of this market offer a wide scope of tones in these gleam-completed lip tones.

Global Lipstick Market By Applicator

The tube/stick segment accounted for 60.9% of the global market share in 2022 and the domination of the segment is likely to continue during the forecast period. Shopper slightly prefers this instrument because of its simple application and simple advantageous carry features. Then again, the fluid section is extended to enlist the quickest CAGR of 7.9% from 2022 - 2027. Developing patterns of matte finish and sparkle finish items has been quickening the development of the liquid lipstick market.

Global Lipstick Market By Age

The under 20 years segment captured around 30% of the global market share in 2022 and is expected to grow at a healthy CAGR during the forecast period.

This age bunch is generally online via web-based media, including fashion blogs, YouTube, and Instagram, which is a critical marketing foundation for cosmetics makers. Subsequently, the buying choice of this youthful shopper bunch is largely affected by web-based media marketing efforts. Besides, customers that are under 20 are keener on trying different things with new items.

Global Lipstick Market By Distribution Channel

The offline segment had the leading share of the global market in 2022 and is expected to grow at a healthy CAGR during the forecast period. Among the offline channels, hypermarkets and supermarkets are developing altogether over the world. There is a moving shopper inclination towards hypermarkets and supermarkets from the traditional retail shops because of the wide exhibit of brands accessible with various value points. A portion of the makers including Avon Products, Inc., Oriflame, Amway, NuSkin, and Mary Kay has grown tremendously through direct deals channels.

REGIONAL ANALYSIS

Europe led the lipstick market, representing 31% of the global market in 2022. U.K., Germany, France, Italy, Poland, and Spain are the noticeable markets of this area. Moving shopper inclination towards natural lip tones because of developing worries over the unsafe impacts of compound-based beautifying agents is a key driving element. Moreover, interest in lip tones among youth customers is ascending in this locale to get a popular and stylish look.

The Asia Pacific lipstick market is predicted to grow at a CAGR of 11% from 2023 to 2028. Quick urbanization in the non-industrial nations including China, India, Malaysia, and Taiwan has been powering the interest in extravagance individual consideration items over the locale. Developing the entrance of worldwide brands is supposed to influence the market development emphatically soon. Moreover, inventive, and alluring bundling is foreseen to extend the buyer base of the market in this area.

KEY MARKET PLAYERS

L'Oréal S.A., Shiseido Company Limited, The Estée Lauder Companies Inc., Coty, Inc., Revlon, Inc., Avon Products, Inc., AmorePacific Corporation, Oriflame Holding AG, Chanel S.A. and Christian Dior SE are some of the key players in the global lipstick market.

RECENT HAPPENINGS IN THE MARKET

• In July 2021, Lakmé Cosmetics dispatched Matte Melt Liquid Lip Color in different shades including peach rose, mulberry feast, red smoke, firestarter red, and vintage pink.
• In December 2021, Zara dispatched its new assortment of matte fluid lip tones. This product offering has a smooth surface, which keeps the lip from drying.
• In June 2021, L'Oréal S.A. dispatched Color Riche Shine lipsticks, which is a non-clingy, shiny completion, and agreeable wear item accessible in a wide scope of tones.

DETAILED SEGMENTATION OF THE GLOBAL LIPSTICK MARKET INCLUDED IN THIS REPORT

This research report on the global lipstick market has been segmented and sub-segmented into the following categories.

By Product

• Shimmer
• Matte
• Glossy
• Satin/Sheer
• Metallic
• Luminous
• Natural
• Crème

By Applicator

• Lipstick Cream
• Lipstick Palette
• Lipstick Pencil
• Lipstick Tube/Stick
• Liquid Lipstick

By Age

• Under 20
• 20-30
• 31-50
• Over 50

By Distribution Channel

• Offline
• Online

By Region

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa