Lip Care Market Assessment and Forecasts Illuminated by New Report

Posted on 2019-08-12 by Mark Hub in Industrial // 0 Comments

Lip care products are witnessing robust adoption worldwide on the back of their protection and nourishment to lips against drying effects caused by cold & wind, harmful sun rays, and dust. Sales of lip care products will further witness a rise with surging demand for multi-purpose, organic lip care
products coupled with rising concerns regarding use of their synthetic counterparts. This report, compiled by Fact.MR, provides in-depth analysis of the global lip care market for the forecast period 2017-2022, and offers key insights about future market direction. A new report compiled by Fact.MR has slated a value CAGR of 4.5% for the global lip care market in the forecast period (2017-2026). Over 650,000,000 units of lip care products are expected to be sold across the globe by 2026-end.

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Emerging Interest in Personal Grooming to Drive Adoption of Lip Care Products

The surging importance of grooming, in tandem with increasing interest in presentable appearance among the aspirational, urban population in order to create positive impression has provided numerous growth opportunities for the global cosmetics industry. Emerging interest of working professionals in personal grooming on account of improving living standards is driving innovations in cosmetic products, and lip care has been no exception. A wide range of revolutionary products of lip care have been launched around the world, and these products have an aesthetic appeal for grabbing attention of consumers, in turn fuelling sales. The lip care products are gaining immense traction within the beauty- & health-conscious consumers, as they deliver protection & nourishment to lips against harmful sun rays, and drying effects of cold & wind.

Sticks to Remain Leading Packaging Form for Lip Care Products

Lip care products packed in sticks are highly sought-after among consumers on the back of the convenience offered in carrying and application of the product on lips. Sticks will therefore remain the leading packaging form used for lip care products, with sales estimated to exceed US$ 2,000 Mn by 2026-end.

Based on price range, economic lip care products will remain preferred by consumers, followed by medium priced lip care products. Revenues from both these price range segments are expected to collectively hold over four-fifth share of the market by 2026-end. Modern trade will spearhead the global lip care products market in terms of revenues, on the basis of sales channels.

Key Future Prospects of Lip Care Market for Forecast Period 2017-2026 (In Terms of Volume)

Accounting for over one-third share of the market, Asia-Pacific excluding Japan (APEJ) will continue to lead the global lip care market. North America and Europe will also persist as major markets for lip care, with sales collectively estimated to surpass 290,000,000 units by 2026-end.
Between Latin America and Middle East & Africa (MEA), the former will account for a relatively larger market share, whereas the latter will exhibit a comparatively higher CAGR through 2026.
On the basis of product type, lip balm will account for the largest market share, followed by lip butter. Lip balms will record the fastest sales expansion during the forecast period. Lip conditioner is also envisaged to exhibit a notable rise in sales through 2026.
Departmental stores and online stores are projected to prevail as fast-expanding sales channels in the global lip care market, with sales collectively estimated to exceed 145,000,000 units by 2026-end. However, modern trade will continue to account for the largest market shares, trailed by convenience store.

Competition Tracking

Fact.MR’s report offers forecast and analysis on key players underpinning expansion of the global lip care market. The market players profiled by the report include Subaru Corporation, Kiehl’s, The Estee Lauder Companies Inc., Shiseido Co., Ltd., Avon Products, Inc., Johnson & Johnson Services, Inc., Beiersdorf Aktiengesellschaft, Unilever PLC, The Procter & Gamble Company, Kao Corporation, and L’Oréal S.A.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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