Over the past five years, industry operators have experienced elevated demand, particularly from premium level goods, in line with increased consumer spending and the overall strengthening economy. Consumer preferences and new product introductions have also contributed to boosted revenue and profit. Operators flooded the industry over the period, as consumer demand for niche, value-added products increased. An increasingly health-conscious customer base is becoming progressively more aware and sensitive to product ingredients. Consumers are increasingly concerned with using products that are chemical-based or have traces of metals or animal by-products, pushing companies to invest in research and development to offer new natural and safe products. In the five years to 2021, industry revenue is expected to grow at a slightly slower pace as the market saturates. Even so, profit margins are expected to remain relatively high, as the luxury market continues to expand more rapidly than discount branded industry goods.
This industry prepares, blends, compounds and packages both cosmetic and therapeutic lip products. Products included in this industry are lipstick, lip gloss, lip stains, lip liner and lip balm.
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.
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