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The global lipstick market size reached approximately USD 9.75 billion in 2023. The market is further projected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of USD 16.55 billion by 2032.
Lipstick is a coloured cosmetic product that is applied on the lips to change or improve their appearance. Made of oil and wax, it uses different pigments to produce colour and minerals including silica to provide texture. The colour of lipsticks has cultural and aesthetic significance as different colours have different connotations.
Based on product type, the market is divided into shimmer, matte, cream, and longwearing. On the basis of applicator, the market is classified into palette, pencil, tube/stick, and liquid. Based on age group, the lipstick market segmentation includes under 20, 20-30, 31-50, and above 50.
On the basis of distribution channel, the market is categorised into supermarkets and hypermarkets, multi branded retail stores, exclusive retail stores, and online, among others. Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global lipstick market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Shimmer lipsticks are anticipated to account for a significant lipstick market share in the coming years due to the comfort provided by the product because of their easy application and high moisture content. Along with being suitable for both nighttime and daytime looks, shimmer lipsticks are easier to remove as compared to cream, longwearing, and matte lipsticks. These lipsticks have an extra oomph of colour and act like glosses and can be opaque or sheer. They also reflect light, making the lips look smoother or plumper.
As per the lipstick market analysis, the Asia Pacific is expected to account for a significant share of the market over the forecast period owing to the increasing penetration of global brands in the region along with adoption of attractive and innovative packaging. The demand for organic and natural beauty products and cosmetics including lipsticks is rising owing to the growing awareness about the benefits of using organic products over the ones containing harmful chemicals. Increasing purchasing power of consumers along with changing lifestyles and increased emphasis on physical appearance is also booting the lipstick market demand.
L'Oréal S.A. is one of the world’s largest cosmetic companies, specialising in perfumes, skin care, hair colour, sun protection, hair care, and makeup, including lipsticks. The company was founded in 1909 and is headquartered in Paris, France.
Chanel S.A., based in London, England, is a world leader in manufacturing, distributing, and creating luxury products. Chanel was established in 1910 and is known for providing a wide range of high-end creations such as skincare, cosmetics, and jewellery.
Coty Inc., a multinational beauty company, founded in 1904 and headquartered in New York, United States, specialises in manufacturing fragrances, skin and body care products, and cosmetics including lipsticks.
Other market players include Christian Dior SE, Giorgio Armani S.p.A, The Estée Lauder Companies, Unilever plc, Oriflame Cosmetics AG, Shiseido Company Limited, and Westman Atelier, LLC, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Applicator |
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Breakup by Age Group |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of approximately USD 9.75 billion in 2023.
The market is projected to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 16.55 billion by 2032.
The major market drivers include increased utilisation due to growing emphasis on physical appearance and rising purchasing power of consumers.
The key trends fuelling the growth of the market include adoption of aggressive marketing and promotional strategies, introduction of novel lipstick colours, and increased product availability across online distribution channels.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various product types available in the market include shimmer, matte, cream, and longwearing.
The key players in the market are L'Oréal S.A., Chanel S.A., Christian Dior SE, Coty Inc., Giorgio Armani S.p.A, The Estée Lauder Companies, Unilever plc, Oriflame Cosmetics AG, Shiseido Company Limited, and Westman Atelier, LLC, among others.
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