Market Size of Lip Care Products Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 4.52 Billion |
| Market Size (2029) | USD 5.74 Billion |
| CAGR (2024 - 2029) | 4.90 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lip Care Products Market Analysis
The Lip Care Products Market size is estimated at USD 4.52 billion in 2024, and is expected to reach USD 5.74 billion by 2029, growing at a CAGR of 4.90% during the forecast period (2024-2029).
- Lip care products are highly used across the globe every day. Not only women but men are also increasingly using lip care products such as lip balms, lip scrubs, etc. Consumers are increasingly conscious of the presence of toxic chemicals in such products. Consequently, they are shifting towards safer alternatives available in the market that are free from harmful ingredients, ensuring a safer and healthier usage experience.
- Chemicals such as parabens, fragrances, etc., are harmful and can cause negative health effects. Therefore, this is promoting the demand for lip care products that are organic and natural. The global market for lip care products is experiencing growth driven by the growing awareness among consumers regarding their physical appearance.
- Millennials, in particular, are actively expanding their use of personal care products, with a notable emphasis on lip care products, thereby boosting market demand. Additionally, the easy availability of these products through various online and offline distribution channels is further contributing to the escalating demand in the market.
- Additionally, the rising lip care problems, such as chapping, darkening, wrinkles, and splitting, caused by various reasons like allergies, dehydration, sun damage, and vitamin and mineral deficiencies, are anticipated to propel the market demand for lip care products further. Unhealthy lifestyle habits like smoking are increasing darker and wrinkled lip concerns, thereby driving the growth of the market. According to the Oral Health Foundation data from 2022, 6.9 million people in the United Kingdom smoke cigarettes.
- The escalating issues related to lip care have led to increased demand, prompting market players to introduce new products aligned with consumer preferences. For instance, in April 2022, e.l.f. Cosmetics partnered with Dunkin’, an American foodservice brand, to launch a limited-edition makeup collection, which was inspired by Dunkin’ Coffee and Donuts. This makeup collection consisted of coffee lip scrub, which was sugar-based and java-scented.
