Lip Gloss Market Overview
The lip gloss market size was valued at USD 3.5 Billion in 2023. The lip gloss industry is projected to grow from USD 3.71 Billion in 2024 to USD 5.55 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.02% during the forecast period (2024 - 2032).
Lip gloss is one of the most common cosmetics used by almost everybody. This particular cosmetic gives a smooth shine and texture to the lips. Along with that, it also protects the chapped lips by keeping them moisturized. They come in variants of many types that the consumers might like them. Some of them are glossy, while the others give a sheer light tint to your lips. This enhances your skin tone along with enhancing the volume of your lips. They tend to wear off faster than any other lip products due to their lighter consistency, and make sure to be light and easy on your lips.
Due to increase in demand for hydrating lipsticks gives rise to grow the lip gloss market size. Consumers started preferring lip gloss over lipstick for so many reasons. This was because of the hydrating and soft applying properties of the gloss, which weren’t found in the lipsticks. Various product launches have introduced a variety of forms of the lip glosses that weren't earlier found in the market.
The lip gloss was introduced as a replacement for the lipstick. Due to the heavy consistency of the lipstick, the lip gloss was used and liked more by the consumers. As a result, the Lip Gloss Market ran parallel to that of the lipstick market. The presence of soft gloss and a natural color made the consumers like it more. It can be used in multiple ways, either by applying it on bare lips or after applying the lipstick to increase the shine, polish, and consistency of the lips. Some of the lip-gloss even comes with the water-based formulae, which makes the lips remain pigmented and an aqua glow for a longer time.
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
The lip gloss market overview is largely segmented based on two categories, the light color, and the matte color.
The matte-colored lip glosses are usually matte in texture and highly recommended for moisturised lips that do not easily dry up. The coverage they provide is more such that less product is used and a good consistency, lasting longer.
The light colour variation is usually preferred by consumers who like the nude and pink colors. Apart from being light on lips, they aren't sticky.
Regional Analysis
The lip gloss market is widely spread across the globe, covering almost every country. This covers parts of the globe like North America, Asia-Pacific, Europe, and South Africa.
Industry News
The Lip Gloss Market stood at an estimated cost of around $5 600 million in 2020 and is expected to show a sharp surge by 2032 with an estimated share of $6 800 million. This growth was seen with a CAGR constant of 4.3% during the initial forecast period.
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Table of content:
- Executive Summary
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Dynamics
To be continued....
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