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Lip and Face Oil Market Size

Report ID: GMI9926
Published Date: Jun 2024
Report Format: PDF

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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.

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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.

Lip and Face Oil Market Report Attributes
Report Attribute	Details
Base Year:	2023
Lip and Face Oil Market Size in 2023:	USD 6.3 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	4.2%
2032 Value Projection:	USD 9 Billion
Historical Data for:	2021 - 2023
No. of Pages:	487
Tables, Charts & Figures:	428
Segments covered:	Product Type, Packaging, Price Range, Consumer Group, Distribution Channel, Region
Growth Drivers:	Rising consumer disposable income Growing awareness about eye health Changing consumer preferences
Pitfalls & Challenges:	Counterfeit products Changing consumer preferences

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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.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global lip and face oil industry was valued at USD 6.3 billion in 2023 and is anticipated to register 4.3% CAGR between 2024 and 2032 driven by rising consumer disposable income and changing consumer preferences.

The low-price range segment in the market is expected to exhibit 4.4% CAGR through 2032 as they are more affordable, making them available to a wider spectrum of consumers, including price-sensitive and budget-conscious consumers.

North America lip and face oil market is expected to reach USD 3.4 billion by 2032 due to high consumer awareness and continuous innovation by leading skincare brands.

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., and The Clorox Company, among others.