Global Lip Care Products Market 2016-2020

Get the latest research report on the Global Lip Care Products Market 2018-2022

Outlook of the global lip care products market

Extensive market research carried out by the analysts at Technavio has shown that the global lip care products market will grow at a steady CAGR of more than 4% over the predicted period. Brand image and customer loyalty are essential to the global lip care products market. According to the market research analysts, most consumers prefer sticking to familiar brands, while they also seek variety in product offerings. This increase in the demand for novel products has led to the manufacturers investing substantially in R&D programs to broaden their product portfolio, which, in turn, will aid in the growth of this market in the coming years. For instance, Bite Beauty offers a limited-edition Frozen Berries Crème Lipstick range that consists of a mixture of powders, pigments, oils, and Japanese silica to enhance the texture of the lips.

In this market research study, the analysts have estimated factors such as the increasing demand for natural and organic lip care products to impel the growth prospects for this market over the predicted period. In 2015, close to 42% of the women aged 18 years and above stated that they preferred buying natural beauty products over synthetic beauty products. Moreover, consumers are becoming increasingly aware of the problems that synthetic lip care products pose. On the basis of these insights, manufacturers are increasingly focusing on developing organic products containing beeswax, cocoa butter, jojoba oil, shea butter, and aloe vera extracts.

Product segmentation and analysis of the lip care products market

• Non-medicated lip care products
• Sun protection lip care products
• Medicated and therapeutic lip care products

During 2015, the non-medicated lip care products segment dominated the market and accounted for more than 68% of the overall revenue market share. Non-medicated lip care products include lipstick, lip butter, lip conditioners, and lip balms that provide moisturizing benefits and shine to lips. Since these cosmetic and lip care products are primarily targeted toward teenagers and millennials, it will aid in the growth of this market segment until the end of 2020.

Geographical segmentation and analysis of the lip care products market

• Americas
• APAC
• Europe
• MEA

Europe was the major revenue contributor to the global lip care products market and is expected to reach more than USD 720 million by the end of 2020. The growing trend for natural products is influencing consumers to seek lip products that have additional benefits. Moreover, online shopping sites like Net-a-Porter and Lookfantastic have made premium brands, such as Glossier, Rodin, Lanolips, 111SKIN, and Hourglass, more reachable to consumers. Also, factors such as the rising disposable income of the populace will contribute to the growth of this market in the region.

Competitive landscape and key vendors

The global lip care products market is moderately competitive because of the presence of some well-established vendors offering a broad range of products. Celebrity endorsements and fashion shows are important marketing strategies used by manufacturers to showcase their new products. Vendors compete on the basis of product portfolio, product differentiation, quality, and pricing to gain market shares. With the rising demand for improved quality products, the market is expected to witness an influx of new and quality product launches, which in turn will drive the market in the near future.

Key vendors in this market are -

• Avon Products
• Beiersdorf
• L'Oréal
• Revlon
• Unilever

Other prominent vendors in the market are Bayer, Blistex, Burt’s Bees, Carma Laboratories, Chanel, Chattem, CLOROX, EOS, KAO, Markwins Beauty Products, Stargazer, and Yves Rocher.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global lip care products market?
• What are the key market trends impacting the growth of the global lip care products market?
• What are the challenges to market growth?
• Who are the key vendors in the global lip care products market?
• What are the market opportunities and threats faced by the vendors in the global lip care products market?
• What are the trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
• What are the key outcomes of the five forces analysis of the global lip care products market?

Technavio also offers customization on reports based on specific client requirement.

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