Lip Gloss Market Scope
Market Research Future (MRFR) expects the lip gloss market to touch close to USD 4.51 billion by the end of 2027. The global market can grow at a rate of 4.9% between 2020 and 2027, adds MRFR.
Major Boosters and Challenges
Lip gloss products are gaining popularity on the back of rising interest in beauty and grooming. The Lip gloss market growth will be bolstered by the surge in promotions and advertisements that foster awareness about the latest lip glosses while also boosting brand awareness among consumers. Endorsements by well-known figures on social media and television should ensure relentless market growth in the ensuing years. Consumers’ soaring interest in beauty products, increase in purchasing capacity, and launch of new innovative products could also benefit the global industry in subsequent years.
One of the most lucrative opportunities in the global market can be the emerging preference for natural and organic lip gloss among people. Non-organic beauty products are animal tested, which raises the concerns among people. Since organic lip glosses are not tested on animals, they are widely accepted by consumers, who are increasingly growing aware about the ingredients in the products.
Social media platforms such as YouTube and Instagram are some of the highly influencing mediums that enhance the awareness level of consumers regarding the availability of innovative lip glosses in the market. Another major growth booster can be the expanding population of working women, especially in the corporate sector.
Top Contenders
ColourPop Cosmetics (US), Chanel (UK), Revlon (US), The Estée Lauder Companies Inc. (US), L'Oréal (France), MAKEUP ART COSMETICS (M.A.C.) (US), Procter Gamble (US), Coty Inc. (US), Shiseido Company (Japan), LVMH (France), are some of the key manufactures of global lip gloss market
Market Segmentation
Finish, category, and distribution channels are the major segments as per which the lip gloss market growth has been categorized in the MRFR report.
Glitter, matte, and glossy are the finished-based categories listed in the report. Glossy lip glosses mark the highest sales and are therefore, the leading segment in the market. The segment’s project growth will be at a decent pace in the future.
Categories studied in the MRFR market study are organic natural as well as conventional. Organic natural lip glosses form the highest share in the global industry and can procure the fastest CAGR over the review period. Maximum demand for these categories of products come from salons.
Distribution channels available are either store-based or non-store based. The major store-based distribution channels in the global feed hibiscus lip gloss market are convenience stores, supermarkets and hypermarkets, and more. Supermarkets and hypermarkets will be the top sub-segment in the coming years, while convenience stores segment can soar at a healthy rate as well.
Distribution channels that sell facial cleansers are store-based {Convenience Stores, Specialty Stores Supermarkets Hypermarkets, and more} as well as non-store based.
Regional Study
Which region is expected to account for the largest revenue share in the global lip gloss market?
The lip gloss business market can be considered for Europe, Americas, Asia Pacific/APAC, and the rest of the world or RoW.
Europe stands at the vanguard of the global industry, as the sales of luxury cosmetics like lip gloss is significantly high in countries like France, the UK, Germany and more. Europe’s lead in the global lip gloss market is backed by the high living standards of the consumers and their interest in the latest beauty and fashion trends. The thriving cosmetics industry in the region, thanks to the Europeans’ focus on maintaining their youthful appearance as well as personal grooming can also favor the lip gloss market share. The expanding e-commerce sector, frequent product innovations and the rising social media penetration also result in substantial lip gloss market size.
Asia Pacific is on track to be the fastest advancing lip gloss market forecast, in view of the soaring number of consumers gaining interest in premium beauty products. Surging purchasing capacity of these consumers encourage them to opt for beauty products like lip gloss. To meet with the rampant consumer demands and boost the sales, local vendors are focused on developing innovative items with aesthetic packaging.
Latest News
March 2021
Hera has released its Rouge Holic iconic range in the US market. The Seoul-based company is planning to introduce its popular lip ranges on Amazon U.S, comprising one of its most sought-after products, HERA Sensual Spicy Nude Gloss. The Rouge Holic range features rich, dense colors with a smooth texture that accentuates the natural volume of the lips.
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