Although some operators experienced volatility in the wake of the recession, Lip Care Products Manufacturing industry revenue has grown over the past five years. Demand for the industry's most expensive and discretionary luxury products plummeted which resulted in declining revenue in 2011 and 2013. However, rebounding consumer disposable income and growing consumer confidence caused revenue to grow as whole during the five years. Looking forward, this trend is expected to continue and growing demand for natural and organic products will support sustainted growth in niche product lines, while driving companies to increse spending on research and development. Therefore, industry revenue is forecast to increase in the next five years.
This industry manufactures medicated, therapeutic, protective or traditional (i.e. without special purpose) lip balms. Lip care products generally protect the lips from wind and sunburns, moisturize and heal wind and sunburns and provide lip-smoothing functions for makeup use. Lipstick without medicated, therapeutic or protective functions are not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.