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Lipstick Market Witness Significant Growth Of $18.9 Billion By 2025: Grand View Research, Inc.

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Lipstick Market Witness Significant Growth Of $18.9 Billion By 2025: Grand View Research, Inc.

March 21
02:00 2020
Lipstick Market Witness Significant Growth Of $18.9 Billion By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Increasing number of female working professionals is expected to remain a key factor driving the lipstick market in the near future.

According to a report,”Lipstick Market Size, Share & Trends Analysis Report By Product (Shimmer, Matte), By Applicator, By Age, By Distribution Channel, By Region, And Segment Forecasts, 2019 – 2025″, published by Grand View Research, Inc., The global lipstick market size is expected to reach USD 18.9 billion by 2025, expanding at a CAGR of 7.4% over the forecast period. Increasing number of female working professionals is expected to remain a key factor driving the market in the near future. Furthermore, rising awareness regarding appearance among the young and working class women has been fueling the demand for the product over the world.

Shimmer lip colors dominated the market in 2018, accounting for over 35.0% share of the total revenue. These types of products have gained remarkable popularity due to their high moisture content, which provides comfort on lips. Matte lip colors are anticipated to witness the fastest growth in the upcoming years owing to the natural look and long-lasting features associated with the product forms.

Based on the applicator, the liquid segment is expected to register the fastest CAGR of 7.9% from 2019 to 2025. Increasing demand for matte finish product forms on a global level is projected to upscale the utility of liquid applicators.

As of 2018, the under 20 age group holds the largest share of the lipstick market in terms of age. More than 75% of teenage consumers use lip color. Use of social media such as YouTube, Instagram, and fashion blogs has been influencing this age group to experiment with new makeup products. The 20 – 30 age group is projected to witness the fastest growth owing to increasing spending among working class women on beauty care in emerging economies including China and India.

Europe emerged as the largest regional market on account of predominant consumption in key countries including Germany, U.K., France, and Italy. Asia Pacific is anticipated to witness the fastest growth in the world due to high concentration of middle-income consumer groups in developing economies including China and India. Lipstick is one of the fastest growing beauty products in China. Around 95.0% of the urban women in China use lip color. Key manufacturers are expanding their business in the above-mentioned developing countries in order to cater to the growing demand for the product.

Key competitors of this industry include L’Oréal S.A.; Shiseido Company, Limited; The Estée Lauder Companies Inc.; Coty, Inc.; Revlon, Inc.; Avon Products, Inc.; AmorePacific Corporation; Oriflame Holding AG; Chanel S.A.; and Christian Dior SE.

Key Takeaways from the report:

  • Europe led the market and held the largest share of 31.0% in 2018

  • By product, matte lipstick is expected register the fastest CAGR of 7.9% from 2019 to 2025

  • Based on applicator, the tube/stick segment held the largest share of 60.9% in 2018

  • The online distribution channel is expected to expand at the fastest CAGR of 10.6% from 2019 to 2025

U.S. lipstick market size, by applicator, 2015 - 2025 (USD Billion)

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Global lipstick market share, by product, 2018 (%)

Regional Insights

As of 2018, Europe dominated the market, accounting for 31.0% of the global revenue. U.K., Germany, France, Italy, Poland, and Spain are the prominent markets of this region. Shifting consumer preference towards organic lip colors due to growing concerns over harmful effects of chemical-based cosmetics is a key driving factor. Furthermore, demand for lip colors among youth consumers is rising in this region in order to get a trendy and fashionable look.

Asia Pacific is expected to register the fastest CAGR of 11.0% from 2019 to 2025. Rapid urbanization in the developing countries including China, India, Malaysia, and Taiwan has been fueling the demand for luxury personal care product over the region. Growing penetration of global brands is expected to affect the market growth positively in the near future. Furthermore, innovative and attractive packaging is anticipated to expand the consumer base of the market in this region.

Lipstick Market Share Insights

Key manufacturers include L’Oréal S.A.; Shiseido Company, Limited; The Estée Lauder Companies Inc.; Coty, Inc.; Revlon, Inc.; Avon Products, Inc.; AmorePacific Corporation; Oriflame Holding AG; Chanel S.A.; and Christian Dior SE. The producers are focusing on strategic mergers and acquisitions, product development, and innovative packaging to expand their business.

For instance, in August 2016, L’Oréal S.A. acquired IT Cosmetics, LLC, a U.S. based producer of makeup and skincare product. This acquisition has expanded the product portfolio of the Luxe Division of L’Oréal. In addition, June 2016, AXILONE USA, a cosmetics packaging solution provider, introduced an innovative environmentally friendly lipstick case made with bamboo.

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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