Changing lifestyle and increase in consciousness for appearance among women, rapid demand for herbal, natural and organic lipsticks, and rise in number of working women propel the growth of the global lipstick market.
PORTLAND, Oregon, Dec. 12, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Lipstick Market by Product Type (Matte, Glossy, Lip Powder, and Others), Form (Stick, Liquid, and Palette), and Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, and Online Stores): Global Opportunity Analysis and Industry Forecast, 2019–2026" According to the report, the global lipstick industry was estimated at $8.2 billion in 2018 and is expected to hit $12.5 billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.during the estimated period.
Drivers, restraints and opportunities-
Changing lifestyle and rise in consciousness for appearance among women, growing demand for herbal, natural and organic lipsticks, and surge in number of working women fuel the growth of the global lipstick market. On the other hand, use of harmful ingredients and counterfeit product-potential threat impede the growth to some extent. However, rise in demand for vegan lipsticks and customizable or personalized lipsticks are expected to pave the way for a number of lucrative opportunities for the key players in the industry.
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The matte segment to lead the trail till 2026-
Based on product type, the matte segment accounted for nearly two-fifths of the global lipstick market share in 2019 and is expected to retain its dominance through 2019–2026. This is due to its vast variety provided by the producers, easy applications. The lip powder segment, on the other hand, would cite the fastest CAGR of 6.6% by the end of 2026. The lip powder provides moisture and color together, and it is available in wide range, that increases its popularity among women.
The hypermarket/supermarket segment to maintain its top status during the estimated period-
Based on distribution channel, the hypermarket/supermarket segment contributed to more than two-fifths of the global lipstick market revenue in 2019 and is anticipated to rule the roost during the estimated period. This is due to the availability of broad range of consumer goods under a single roof, ample parking space, convenient operation timings, increasing urbanization, rising working class population and competitive pricing is boosting the popularity of hypermarkets. At the same time, the online store segment is expected to grow at the fastest CAGR of 6.2% by 2026. The easy accessibility, heavy discounts and offers on cosmetics and beauty products provided by these online platforms boosts their adoption in the lipstick market.
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Europe, followed by North America, to dominate the market-
Based on geography, the Europe region held the largest share in 2019, generating nearly two-fifth of the global lipstick market and is projected to maintain the lion's share during 2019–2026. This is due to the rise in demand for natural and organic cosmetic product. On the other hand, North America contributed the second largest revenue share in 2019. Simultaneously, Asia Pacific is predicted to register the fastest CAGR of 7.1% throughout the forecast period. This is due to the preference for customized cosmetic products and increase in use of organic and natural lipsticks.
Leading players in the market-
- Christian Dior SE
- Shiseido Company Limited
- Estée Lauder Companies Inc
- L'Oréal S.A
- Revlon Inc.
- Inglot Sp. Z. O. O
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