Lip and Face Oil Market Size, By Product Type (Lip Oils, Face Oils), By Packaging, By Price Range (Low, Medium, High), By Consumer Group, By Distribution Channel, Region, and Forecast 2024 - 2032

Lip and Face Oil Market Size

Lip and Face Oil Market size was valued at USD 6.3 billion in 2023 and is estimated to grow at a CAGR of 4.2% from 2024 to 2032. This growth can be attributed to the rising consumer awareness about skincare routines coupled with innovations in product formulations and rising disposable income of consumers.
 

Lip and face oils are emerging as an essential part of beauty regimens as consumer awareness about skincare and ingredients continues to grow. These oils are popular for their moisturizing, anti-aging, and nourishing effects, making them an appealing choice for a wide range of consumers looking for effective skincare treatments.
 

In addition to this, skincare brands are constantly innovating new formulations and oils to address specific skin conditions. From vitamins and antioxidants to botanical extracts, these oils benefit various skin types and conditions, driving consumer interest and boosting sales.
 

The lip & face oil industry is becoming more competitive with multiple brands and products, making it difficult for new entrants to stand out and achieve market share. Additionally, premium pricing associated with the market's higher-quality oils and formulas can deter price-conscious consumers.
 

Lip and Face Oil Market Trends

Digital marketing and social media have become essential in the skincare industry, with influencers and beauty bloggers playing significant roles. These digital celebrities commonly promote lip and face oils, highlighting their benefits and usage through engaging content, influencing consumer purchasing decisions and driving market demand. For instance, Jasmine Tookes, Victoria's secret model, has partnered with OLIO Skincare to promote its luscious glow face oil through engaging content.
 

Lip and Face Oil Market Analysis

Based on product type, the market is classified into lip oils and face oils. The face oil segment captured the largest market share of 4.3 billion in 2023 and is expected to grow at a CAGR of 4.3%. Face oils have grown in popularity in recent years, as people seek natural and organic skincare products. They are often prepared using a variety of plant-based components, including jojoba oil, rosehip oil, and argan oil. These compounds are popular for their moisturizing and anti-aging qualities.
 

Based on the price range, the global lip and face oil market is categorized into low, medium, and high. The low-price range segment dominated the market, accounting for 43% in 2023 and is expected to grow at a CAGR of 4.4% during the forecast period from 2024-2032. The products in the low-price range are more affordable, making them available to a wider spectrum of consumers, including price-sensitive and budget-conscious consumers.
 

In the global lip and face oil market, North America held a significant market share of USD 2.4 billion in 2023 and is expected to maintain its dominant position throughout the forecast period. It is projected to reach USD 3.4 billion by the end of 2032. North America has a high consumer base, who are well-versed about skincare routines and the benefits of different skincare ingredients. This increased awareness creates a huge demand for high-quality lip and face oils with beneficial properties. The region is also a hub for leading skincare brands, who are continuously innovating and launching new formulations to meet the different needs of their customers.
 

The lip and face oil market in the U.S. is projected to experience a CAGR of 4.6% throughout the forecast period. Various top skincare brands are headquartered in the U.S., where they are constantly inventing and launching new formulations to address the different demands of their customers. This continuous innovation maintains consumer interest and supports industry growth.
 

China dominates the Asia Pacific lip and face oil market, accounting for 33% market share in 2023, and it is expected to grow at a CAGR of 4.3% during the forecast period from 2024-2032. Chinese consumers are involved in beauty and skincare, owing to a cultural emphasis on maintaining youthful and healthy skin. Furthermore, the global beauty standards have encouraged this trend, with Chinese customers looking to embrace and adapt international skincare techniques and products.

Lip and Face Oil Market Share

The lip and face oil industry seem to be moderately fragmented in nature due to the presence of local and global players. In 2023, market players, including L'Oréal S.A., Procter & Gamble Co., Unilever, Shiseido Company, Limited, and Johnson & Johnson, collectively held around 15%-20% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions, and collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.
 

Lip and Face Oil Market Share

Major players operating in the lip and face oil industry are:

• The Estée Lauder Companies Inc.
• L'Oréal S.A.
• Procter & Gamble Co.
• Unilever
• Shiseido Company, Limited
• Johnson & Johnson
• Beiersdorf AG
• Clarins Group
• Amorepacific Corporation
• Coty Inc.
• The Clorox Company
• The Body Shop International Limited
• Kiehl’s LLC
• Tata Harper Skincare
• Herbivore Botanicals LLC
   

Lip and Face Oil Industry News

• In January 2023, OLEHENRIKSEN introduced the HydraBarrier Hydrating Face Oil, which contains Scandinavian berry oils and peptides designed to promote softer, bouncier skin.
   
• In January 2021, Renee Cosmetics expanded its product line by introducing luxury face oils into the skincare market. The company launched a Glazed-Glow Oil for pre-makeup application and a Texture-Fix Oil for post-makeup care.
   

The lip and face oil market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) (Millions/Square Feet) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Lip oils
  • Tinted lip oils
  • Clear lip oils
  • Plumping lip oils
• Face oils
  • Hydrating face oils
  • Anti-aging face oils
  • Brightening face oils
  • Others (balancing face oils, calming face oils)

Market, By Packaging

• Dropper bottles
• Pump bottles
• Roll-on bottles
• Squeeze tubes
• Stick containers
• Others (airless pump bottles, etc.)

Market, By Price Range

• Low
• Medium
• High

Market, By Consumer Group

• Men
• Women
• Kids

Market, By Distribution Channel

• Online
  • E-commerce
  • Company website
• Offline
  • Supermarkets and hypermarkets
  • Specialty stores
  • Other retail stores

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA