Global Lip Care Products Market Size, Share, Growth Analysis, By Type(Lip Balm, Lip Scrub), By Distribution Channel(Supermarkets & Hypermarkets, Pharmacy Stores), By Product(Medicated & Therapeutic, Sun Protection) - Industry Forecast 2022-2028

Global Lip Care Products Market size was valued at USD 2.01 billion in 2021 and is poised to grow from USD 2.17 billion in 2022 to USD 3.86 billion by 2030, growing at a CAGR of 7.9% in the forecast period (2023-2030).

The global lip care products market is projected to witness significant growth in the coming years, driven by the increasing demand for organic and natural products. Factors such as rising awareness about personal grooming, changing lifestyles, and increasing disposable income are expected to drive market growth. Additionally, the growing popularity of e-commerce platforms and the availability of a wide range of lip care products are expected to further boost the market. However, the presence of counterfeit products and high competition among manufacturers may pose challenges for market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of Lip Care Products market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Global lip care products market is segmented on the basis of product, distribution channel, type, and region. By type, the lip care products market is segmented into lip balm, lip scrub, and others. By distribution channel, the lip care products market is categorized into supermarkets & hypermarkets, pharmacy stores, specialty stores, and online. By product, the lip care products market is segmented into medicated & therapeutic, sun protection, non-medicated. By region, the lip care products market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.

Driver

The global lip care products market is anticipated to experience growth during the projected period due to the increasing consciousness of safeguarding lips from excessive sun exposure and the widespread availability of lip care items worldwide. The skin on the lips is thin and lacks melanin, emphasizing the need to protect them from sun damage. This has resulted in a notable rise in demand for lip care products.

Restrain

The global lip care products market may face significant constraints during the forecast period due to the widespread availability of homemade lip care products as a commercial product substitute and the high costs of natural and organic products available in the market. The market growth may also be affected by the fact that several homemade and organic lip care products can alleviate pain and promote the healing of chapped lips, thereby potentially reducing demand.

Trend

The global lip care market is experiencing a positive impact from the increasing demand for organic and natural plant-based products, particularly among working women with higher purchasing power. Over the past few years, there has been a trend among consumers to choose lip care solutions free from harmful chemicals and synthetic ingredients, which has led to a surge in the market for natural and organic products worldwide. Consumers are favoring these products to improve the appearance, nourish, and repair their lips, which may become pale or dark due to smoking or other factors.