LIPSTICK MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Lipsticks are available in various types such as crème, matte, shimmer/pearl/frost, luminous, and others. A standard lipstick is manufactured using ingredients such as pigments, oils, waxes, and emollients.

Market Dynamics:-

The global lipstick market is driven by rising health consciousness among women across the globe, which is expected to increase demand for organic cosmetics products. As a result of escalating demand for organic cosmetics, companies across the globe are focusing on developing organic lipsticks. For instance, in October, 2017, Nykaa launched an organic lipstick, namely Organistick Lipstic which includes natural ingredients such as shea butter, argan oil, and jojoba oil.

However, numerous lipsticks available in the market contains lead which is harmful to health .Lead causes allergy, chapping of lips and irritation. Lipsticks also contains harmful chemicals and other heavy metals which may cause cancer. There, the presence of such chemicals and heavy metals may restraint the market growth.

Market Outlook:-

On the basis of product type, the global lipstick market is segmented into crème, long wearing, matte, and shimmer. Matte segment is expected to account for the highest revenue share in the global market over the forecast period. Moreover, key players are focused on launching new matte lipsticks in order to strengthen their market presence. For instance, in October, 2018, Nykaa cosmetics launched the Ultra Matte Lipstick, which contains Jojoba, Vitamin E, and Olive Oil.

On the basis of applicator, the market is segmented into palette, pencil, tube/stick and bottle with brush. Among these, the stick/tube segment, followed by bottle with brush applicator segment, is expected to witness significant growth owing to high acceptance of stick/tube lipstick applicators among the consumer base. According to Coherent Market Insights' Analysis, in 2017, the lipstick containers packaging including stick/tube and bottle with brush in applicator segment was 2,795.8 million. Therefore, increasing production of stick/tube and bottle with brush is expected to boost growth of the market.

On the basis of region, Asia Pacific market is expected to account for the highest revenue share in the global market over the forecast period, owing to the rapidly expanding cosmetics & personal care industry in the Asia Pacific region. According to Beauty World ME, which is brand of Messe Frankfurt, trade fair, congress and event organizer, in 2016, the Asia Pacific beauty market was valued at US$ 141 billion. Therefore, the rising beauty market in the region is expected to propel the global lipstick market growth over the forecast period.

Key Players:-

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

Key players in the market are focusing on numerous strategies such as product launches, mergers & acquisitions, partnerships & collaborations to gain a strong foothold in the global market. For instance, in 2016, L'Oréal S.A. acquired IT Cosmetics, a beauty brand in the U.S. With this acquisition, L'Oréal S.A. plans to expand its portfolio of color cosmetics, and skin care business segment.

Market Taxonomy:-

On the basis of product type, the global lipstick market is segmented into:

• Crème
• Long-wearing
• Matte
• Shimmer

On the basis of applicator, the global lipstick market is segmented into:

• Palette
• Pencil
• Tube/ Stick
• Bottle with Brush

On the basis of distribution channel, the global lipstick market is segmented into:

• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Departmental Stores
• Online Stores

On the basis of region, the global lipstick market is segmented into:

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Russia
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East
  • GCC
  • Israel
  • Rest of Middle East
• Africa
  • Northern Africa
  • Central Africa
  • South Africa