Lipstick Market Report

Market Overview 2024-2032:

The global lipstick market size reached US$ 9.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.

Lipstick is a cosmetic product that is used to color the lips and contains oils, pigments, waxes and emollients. It is widely used for enhancing the texture of lips and providing a radiant look to the overall facial appearance. It is manufactured in a multi-stage process that begins with melting and mixing various ingredients, shaping them into tubular molds and then packaging the final product. Nowadays, lipsticks are also being enriched with vitamin E, glycerin and coconut oil to maintain healthy lips. They also act as a lip balm that provides both hydration and color to the lips. They are often worn by both men and women and are among the most commonly used makeup products across the globe.

Lipstick Market Trends:

Growing urbanization coupled with increasing working women base across the globe is the key factor driving the growth of the market. The demand for lipsticks has grown substantially among women owing to their escalating purchasing power along with the growing consciousness about physical appearance. Furthermore, e-commerce platforms have brought massive changes to the beauty industry by providing consumers with a well-designed and immersive shopping experience. Attractive price concession along with easy accessibility offered by online retailers has also resulted in increasing product demand. Additionally, aggressive promotional activities by leading brands and established manufacturers on popular social media sites such as Facebook and Instagram are also contributing to burgeoning product demand. Moreover, owing to growing health-consciousness, consumers are increasingly opting for organic and lead-free lipsticks. Other factors such as product premiumization along with the introduction of lipsticks with customizable shades and personalized applicators are also fueling the market growth further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global lipstick market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on product type, colour, applicator, age group, gender and distribution channel.

Breakup by Product Type:

• Satin/Sheer
• Matte
• Crème
• Gloss 
• Metallic
• Shimmer
• Others
   

Breakup by Colour:

• Red
• Pink
• Nude
• Maroon
• Others
   

Breakup by Applicator:

• Lipstick Cream
• Lipstick Palette
• Lipstick Pencil
• Lipstick Tube/Stick
• Liquid Lipstick
   

Breakup by Age Group:

• Under 18
• 18-30
• 30-40
• 40-50
• Above 50
   

Breakup by Gender:

• Female
• Unisex
   

Breakup by Distribution Channel:

• Departmental/Grocery Stores
• Multi Branded Retail Stores
• Supermarkets and Hypermarkets
• Exclusive Retail Stores
• Online Channels
• Others
   

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Middle East and Africa
• Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being L'Oréal SA, Procter & Gamble (P&G) Company, Avon Products, Inc., Shiseido Company, Limited, LVMH Moët Hennessy – Louis Vuitton SE, Estee Lauder Companies Inc., Oriflame Holding AG, Revlon, Inc., Markwins Beauty Brands, Inc., Stargazer Products, Coty Inc., The Clorox Company, DHC Corporation, Johnson& Johnson, Chanel S.A., Inglot Cosmetics, Unilever Group and Rohto Pharmaceutical Co., Ltd.

Report Coverage: