Lipstick Market Size, Share, Growth & Industry Trends [2031]

Report Description

The global lipstick is projected to register a substantial CAGR during the forecast period, between 2021 and 2028. Lipstick is a cosmetic product that is composed of wax, oil, emollients, and pigments. This cosmetic product is applied to the lips in order to provide protection, color, and texture. Lipsticks also function as a form of lip balm by providing hydration as well as color to the lips. Lipstick is one of the most widely used makeup products in the world. Lipsticks are frequently available in a variety of hues, depending on the company. It is commonly used to improve the texture of the lips and add radiance to the overall facial appearance.

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Market Trends, Drivers, Restraints, and Opportunities:

• Growing urbanization, which is accompanied by an increase in the number of working women globally, is the primary driver driving the market's growth.
• Increase in personal grooming and appearance consciousness is projected to spur the market expansion.
• The development in the trend of customers seeking natural and organic beauty products can boost the market growth.
• High cost of the product, as well as the doubtful composition of some lipsticks, are limiting the expansion of the lipstick market.
• The existence of harmful compounds in lipsticks is expected to create impediments to the market.
• Increase in Internet penetration and social media marketing can create lucrative opportunities for the market.

Scope of the report:

The report on the lipstick market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Lipstick Market Segment Insights

Shimmer segment is projected to hold a significant market share

Based on product types, the lipstick market can be segmented into crème, gloss, metallic, matte, satin/sheer, shimmer, and others. The shimmer segment is projected to hold a significant market share due to the product's high moisture content, which makes it more comfortable to wear on the lips. Shimmer lip colors are also easier to remove than matte cream and long wearing lip paints.

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Red color segment is anticipated to account for a substantial share

On the basis of colors, the market can be segregated into maroon, pink, red, nude, and others. The red color segment is anticipated to account for a substantial share. Increase in personal grooming, appearance consciousness, and suitability to all skin tones are projected to drive the segment expansion.

Lipstick tube/stick segment expand at a rapid pace during the forecast period

In terms of applicators, the lipstick market can be fragmented into lipstick cream, liquid lipstick, lipstick palette, lipstick pencil, and lipstick tube/stick. The lipstick tube/stick segment is expected to expand at a rapid pace during the forecast period. These tubes come in a variety of sizes, colors, and shapes. Lipstick in cylindrical tube form is easy to apply and provides good lip coverage. The consumer favors this applicator owing to its ease of use and portability.

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18-30 segment register a substantial growth rate in the near future

Based on age groups, the market can be divided into above 50, 40-50, 30-40, 18-30, and under 18. The 18-30 segment is anticipated to register a substantial growth rate in the near future. This age group is the most active on social media, including fashion blogs, YouTube, and Instagram, which is an important marketing channel for beauty companies. As a result, social media marketing initiatives have a big influence on the purchasing decisions of this youthful customer demographic.

Supermarkets & hypermarkets expand at a robust pace during the projected timeline

On the basis of distribution channels, the lipstick market can be segmented into departmental/grocery stores, exclusive retail stores, multi-branded retail stores, supermarkets & hypermarkets, online channels, and others. The supermarkets & hypermarkets segment is expected to expand at a robust pace during the projected timeline This is due to the fact that consumers have the advantage of scanning different lipsticks, shades, and colors based on their skin tone and preferences. Furthermore, the presence of store associates to assist customers in selecting the right product and providing product knowledge boosts the segment growth. The online distribution channel is estimated to grow at a high CAGR during the forecast period. The rapid rise of smartphones and high-speed Internet is likely to play a critical role in the growth of e-commerce.

Europe is expected to dominate the market

In terms of regions, the market is categorized as Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Europe is expected to dominate the market. A primary driving factor is a shift in customer preference toward organic lip colors as a result of growing concerns about the detrimental consequences of chemical-based cosmetics. The region's major markets are the UK, Germany, France, Italy, Poland, and Spain. Furthermore, the demand for lip colors among young consumers in this region is increasing in order to achieve a modern and fashionable appearance.