Lip Care Products Market Size, Share & Trends Analysis Report By Product (Lip Balm, Lip Scrub), By Distribution Channel (Hypermarket & Supermarket, Specialty Store), By Region, And Segment Forecasts, 2021 - 2028
Lip Care Products Market Growth & Trends
The global lip care products market size is expected to reach USD 3.1 billion by 2028, registering a CAGR of 5.9% over the
forecast period, according to a new report by Grand View Research, Inc. The demand for lip care products is witnessing rapid
growth owing to the growing concerns regarding personal grooming and appearance. An increasing number of beauty & health-
conscious consumers are preferring vegan and organic lip care products, which has resulted in increased adoption of these
Products, such as lip balms, scrubs, and masks, containing ingredients, such as hyaluronic acid and essential oils like
coconut & olive oils, are gaining immense popularity. The presence of essential oils is primarily intended to provide
nourishment, and offer protection against dust, UV rays, and cold, which is driving their adoption in regular beauty regimes.
The lip balm segment held the largest segment in 2020 and is expected to maintain dominance over the forecast period. Lip
balms are intended to offer the benefits of instant hydration and moisturization, which is driving their adoption as an
essential lip care product. The growing availability of lip balms with various fragrances, flavors, plant-based ingredients,
sizes, and shapes, are boosting the market growth.
The hypermarket & supermarket distribution channel segment accounted for the largest revenue share in 2020. An increasing
number of product manufacturers are offering their lip care range through these stores. For instance, in November 2020, Eco
Lips Store announced the launch of its six organic lip balms through Walmart stores.
The global market is consolidated owing to the presence of a large number of international players, such as L’Oreal S.A.,
Unilever Beiersdorf AG, The Colgate-Palmolive Company, The Estée Lauder Companies, Inc., Johnson and Johnson, and Avon
Products, Inc. These players have an extensive product portfolio as well as a large customer base.
Lip Care Products Market Report Highlights
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