Market Scope
Market Research Future (MRFR) believes that the lip gloss market can potentially secure a strong valuation of around USD 4.51 Billion by the evaluation period’s end. Over the given period (2020 to 2027), the market could acquire a CAGR of 4.90%, adds MRFR.
Major Boosters and Deterrents
Lip gloss is one of the most popular cosmetics, especially among the female populace, and their surging interest in beauty as well as grooming. The business growth is further boosted by the rise in promotions along with advertisements that aim to foster brand awareness. Endorsements by the brands, backed by renowned figures on television and social media will further ensure relentless industry growth in subsequent years. Other encouraging factors could be the mounting consumer interest in different beauty products, surging purchasing capacity, and introduction of a variety of creative products.
A significant opportunity for the players could be the rising inclination of the consumers towards natural, organic products. Given the fact that organic products are never tested on animals, they enjoy worldwide acceptance. With consumers growing increasingly aware regarding the ingredients present in the products, more and more brands are now utilizing organic and plant-based ingredients.
Top Contenders
The Estée Lauder Companies Inc. (US), Shiseido Company (Japan), Chanel (UK), ColourPop Cosmetics (US), Coty Inc. (US), L'Oréal (France), LVMH (France), MAKEUP ART COSMETICS (M.A.C.) (US), Revlon (US), Procter Gamble (US), are the top lip gloss brands in the market.
Market Segmentation
Finish, along with category and distribution channels, have been listed as the primary segments in the report to give a better understanding of the lip gloss market trends and growth prospects.
Glitter, glossy, and matte are the top finish-based sections covered in the study. The consumer preference for glossy lip glosses is extremely high, which translates into the segment’s lead in the worldwide lip gloss market.
The categories profiled are organic and natural, coupled with conventional. Organic and natural lip glosses are the biggest gainers in the lip gloss market and should achieve the fastest development rate in the future.
Distribution channels that sell a variety of lip glosses include store-based and non-store-based ones. The leading store-based distribution channels include supermarkets, hypermarkets, convenience stores, and more. Supermarkets hypermarkets will remain the top segment all through the analysis period, while convenience stores could procure a healthy CAGR in the given timeline.
Regional Study
Europe rises to the top of global lip gloss market report, backed by the mounting number of consumers opting to buy luxury cosmetic products such as lip gloss. This demand is particularly robust in countries like France, Germany, and the UK, to name a few. The European market’s attractiveness is also bolstered by the significant living standards of the population and people’s awareness of the latest beauty trends. The burgeoning cosmetics sector in the region, in conjunction with people’s constant focus on their appearance and personal grooming, should facilitate business growth as well. Another factor that works in favour of the size of the European lip gloss market is the thriving e-commerce industry and the soaring social media impact.
Asia Pacific will potentially be the fastest-developing lip gloss market in the next couple of years, thanks to the soaring interest of consumers in premium beauty items in line with their rising purchasing capacity. A popular trend among leading brands in Asia Pacific includes using attractive packaging for cosmetics to attract more consumers, especially in South Korea. These marketing tactics followed by the companies help foster market growth as well.
Latest News
January 2022
e.l.f. Cosmetics reveals its latest Cookies ‘N’ Dreams series that takes inspiration from crumbled chocolate cookies laced with creamy ice cream. This collection contains 13 clean beauty products, one of which is Cookies ‘N’ Dreams lip gloss. The cookies cream-inspired lip glosses come in three shades, and are non-sticky.
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