PUBLISHER: Markets & Data | PRODUCT CODE: 1629355
PUBLISHER: Markets & Data | PRODUCT CODE: 1629355
India lipstick market is projected to witness a CAGR of 9.55% during the forecast period FY2025-FY2032, growing from USD 629.42 million in FY2024 to USD 1305.69 million in FY2032. Lipstick, a cosmetic product that has been a beauty staple for centuries, remains dominant in India, symbolizing affordability and self-expression for consumers across various demographics.
Over the past years, India lipstick market has evolved incredibly, and the vigorous growth is characterized by factors such as changing consumer preferences, increasing disposable incomes, and the growing influence of social media. With rapid urbanization, beauty standards have shapeshifted, and lipsticks have notably transcended their traditional role, becoming an essential part of everyday grooming for millions.
Today, the market is fashioned by domestic and international key players, including Lakme, Maybelline, Nykaa, Kay Beauty, and Estee Lauder. Homegrown brands such as Sugar Cosmetics and MyGlamm are offering myriad shades, textures, and finishes to cater to an increasingly diverse audience.
The ascent of direct-to-consumer (D2) channels has significantly democratized access to all sorts of lipsticks, including premium ones, consequently fostering fierce competition in pricing, innovation, and marketing strategies.
Additionally, with the growing prevalence of eco-consciousness, vegan, cruelty-free, and sustainable products have gained prominence. To stay on top, brands are constantly working on their portfolios and product developments across price tiers.
In August 2024, Kay Beauty expanded its lipstick portfolio with a recording-breaking debut of its Hydra Creme Lipsticks which are formulated with nourishing ingredients such as Hyaluronic Acid and Lychee Extracts for soft and hydrated lips throughout the day.
Growing Popularity for Minimal, Natural Looks Driving Forward India Lipstick Market
The preference for minimal, natural beauty has seen a sharp rise in India. Consumers are gravitating toward minimalistic, no-makeup makeup looks rather than heavily made-up looks. This, in turn, has pushed the demand for lighter, more natural-looking, and multipurpose products such as tinted lip balms, lip oils, lip tints, and glosses. These products, along with enhancing natural beauty, also serve the surging desire for a fresh, dewy, and effortless aesthetic.
For instance, homegrown brand, Ilana Organics tapped into this trend with its clean-ingredients-rich Lip & Cheek Tint, which combines skincare benefits with a subtle color payoff. Similarly, Korean brand, Laneige's Lip Glowy Balm has become a cult urban favorite which delivers a glossy, dewy finish while ensuring hydration and care.
In this digital-first age, social media influencers and beauty bloggers have drastically impacted and amplified this trend by showcasing PR packages, and collaborations, giving honest reviews, and creating a range of minimal makeup looks, whether it's for an occasion, a meeting or running an errand.
Staying in sync with the demand from consumers seeking nourishment alongside "barely-there" makeup, brands are formulating products infused with skin-friendly ingredients such as peptides, hyaluronic acid, shea butter, argan oil, and more.
The growing resonance of glosses, balms, and lip oil reflects a broader cultural evolution towards cherishing individuality and promoting natural beauty. With consumers, irrespective of gender, incorporating these skin-benefitting products in their daily self-care routines, it is a budding opportunity for brands to tap into the trend, innovate and expand their product portfolios.
In March 2024, Rihanna launched Fenty Beauty in India. The globally acclaimed, "Gloss Bomb Universal Lip Luminizer", available in 5 shades, gained immense traction in India. This is primarily because of its formula that is enriched with AHA's, glycolic acid and antioxidants which also provides a non-sticky formula.
Conscious Consumerism and Growing Demand for Clean, Sustainable and Cruelty-Free Products
The escalating consumer awareness around health, sustainability, and ethical considerations has propelled the demand for cruelty-free and sustainable lipsticks in India. According to a 2024 study, 47% of consumers in India choose natural ingredients as the key feature in facial skincare products, and 30% of consumers claim they are paying attention to ingredients more as compared to 6 months ago.
This driver is more pronounced among Gen Z and millennials, who align their purchases with ethical values. The conscious consumers are increasingly scrutinizing ingredient lists and brand ethics. They seek products devoid of synthetics, parabens, sulfates, mineral oils, carmine, and harsh chemicals. Consumers revere brands that are vocal about their sourcing and origins of ingredients (such as Saffron from Kashmir). This somehow reckons a revival of traditional beauty rituals, rooted in natural remedies and generational wisdom. For instance, Forest Essentials uses natural pigments derived from fruits and flowers in its lipsticks and has positioned itself as a leader in the clean beauty segment.