The global lipstick market is anticipated to grow at a CAGR of 6.4% during the forecast period (2022-2028). The global lipstick market is growing due to the increasing presence of beauty products globally. The rising purchasing power of the women population owing to rising female workforce, increasing health consciousness among the consumers and increased awareness about the benefits of organic cosmetics and the growing trend of consumers looking for natural and organic beauty products that includes lipsticks owing to the increase in concerns on the harmful effects of traditional cosmetics and more chemical based products are such factors owing to them mrket is growing further. The rising demand for E-commerce globally and the easy availability of products in the online platform as well as in the offline retail store are boosting the growth of the market. The changing preference of the consumers and their shifting towards online platforms owing to their features such as security features for online payments, customer-friendly services, easy-to-navigate shopping websites, and simple delivery are making the manufacturers develop their online portal and is anticipated to propel the growth of the market. The increasing investment by major market manufacturers for research and development and shifting towards consumer preference for organic products over chemical lipstick is also boosting the growth of the market.
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Moreover, the manufacturers are also introducing small lipstick as a sample product for the consumers and sending them to them at very cheap prices so that the consumer can use them, apply them, and then buy them in larger volumes. Several other strategies in the online platform such as providing huge discounts, sending sample pouches of new products along with their orders, flash sales, and others by the market players to increase their sales numbers are also expected to boost the growth of the lipstick market. Additionally, manufacturers are also collaborating with social media influencers and content creators to create brand awareness and promote their products. Several promotions and advertisements are creating awareness in the customer to have better ideas about lipsticks and other personal care products and tutorials about how to use them and reviews about the products on the online platform are further expected to propel the growth of the lipstick market in the forecast period.
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Some major players in the market include Avon Products, Inc., AmorePacific Corporation, Chanel S.A., Christian Dior SE, Coty, Inc., L’Oréal S.A., Oriflame Holding AG, Shiseido Co. Ltd, Revlon, Inc., and The Estée Lauder Companies Inc., among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance,
- In February 2022, SUGAR Cosmetics launched Air Kiss powder lipstick that is created with a breakthrough powder formula that magically transforms into a sleek matte cream when applied.
- In February 2022, Boho Beautiful announced the launch of a collection with a wide range of cosmetics, including lip gloss, lipstick, highlighter sticks, blush, setting sprays, and cosmetic palettes in the global market.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Form
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Avon Products, Inc., AmorePacific Corporation, Chanel S.A., Christian Dior SE, Coty, Inc., L’Oréal S.A., Oriflame Holding AG, Shiseido Co. Ltd, Revlon, Inc., and The Estée Lauder Companies Inc.,. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Lipstick Market Report by Segment
By Product Type
- Matte
- Glossy
- Lip Powder
- Others
By Form
- Stick
- Liquid
- Palette
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