About Lip Care Products Market
The global lip care market is seeing increased demand for organic and natural lip care products, alongside growing interest in lip care products for men, and rising awareness about the need to protect lips from overexposure to the sun. Europe is the leading market, and is followed by the Americas.
APAC is expected to grow at a relatively fast pace during the forecast period with countries such as China and India taking lead. Factors such as rapid growth in the population, increased affordability, and the availability of a wide range of lip care products, of both international and local brands, present substantial growth opportunities for players in the developing countries.
Technavio’s analysts forecast the global lip care products market to grow at a CAGR of 4.63% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global lip care market for 2016-2020. To calculate the market size, the report considers revenue generated from the retail sales of the following lip care products:
Technavio Announces the Publication of its Research Report – Global Lip Care Products Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Lip Care Products Market: Avon Products, Beiersdorf, L’Oréal, Revlon, and 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.
Commenting on the report, an analyst from Technavio’s team said: “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.”
According to the report, brand image and customer loyalty are very important to the global lip care products market. While consumers stick to familiar brands, they also seek variety in terms of product offerings. Manufacturers invest considerably to augment their R&D capabilities and focus on broadening their product portfolios. Continuous product innovation constitutes one of the major growth drivers of the market.
Further, the report states that the presence of counterfeit products can, however, continue to curtail the growth of the market.
Avon Products, Beiersdorf, L’Oréal, Revlon, Unilever, Bayer, Blistex, Burt’s Bees, Carma Laboratories, Chanel, Chattem, CLOROX, EOS, KAO, Markwins Beauty Products, Stargazer, Yves Rocher.
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