According to TechSci Research report, “Global Lipstick Market Research Report By Product Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2013 – 2023”, the global lipstick market is projected to surpass $ 17 billion by 2023. Lipstick is a cosmetic product containing oils, waxes, pigments and emollients that provide texture, color and protection to the lips. Expanding working women population base, rising number of product innovations, increasing disposable income and improving standard of living are few of the major factors anticipated to positively influence the lipstick market across the globe during forecast period. Moreover, easy availability of lipsticks through online sales channel, increasing consumer preference for natural and organic products, and surging demand for lipsticks in developing nations are anticipated to provide lucrative growth opportunities to companies operating in the global lipstick market over the course of next five years.
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According to the World Bank, the global urban population share grew from 52.42% in 2012 to 54.29% in 2016 and is further expected to increase in the coming years, owing to improving economic conditions, globally. Moreover, with the growth of female population, especially working women, demand for lipsticks is likely to continue growing in the coming years. Of the all distribution channels, supermarkets/hypermarkets generate the highest sales for lipsticks, as they offer the convenience of multiple brands at a single location and easy accessibility along with lucrative discounts and offers. Asia-Pacific holds the largest share in the global lipstick market, backed by huge demand from major developing economies such as China and India.
With the availability of unique product portfolio and a wide product offering under multiple brands, L’Oréal International is the leading player in the global lipstick market. “Improving lifestyles, growing urbanization and increasing usage of social media are the key factors boosting the usage of beauty products, globally. Moreover, growing demand for natural and organic lipsticks, increasing percentage of women joining workforce and rising use of convenient and attractive packaging are few of the major factors expected to drive the lipstick market, globally, through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Global Lipstick Market”
“Global Lipstick Market By Product Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2013–2023” has evaluated the future growth potential of lipstick market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global lipstick market.