Lipstick Market - By Form, By Finish Type, By Ingredient, By Price Range, By Distribution Channel & Forecast 2024 to 2032

Lipstick Market Size

The global lipstick market size was valued at USD 9.1 billion in 2023 and is estimated to grow at a CAGR of 4.8% from 2024 to 2032. Greater focus on health and wellness, in addition to environmental protection, motivates customers to look for organic, cruelty-free, and chemical-free lipsticks. Such transformation is more visible in regions like Europe and North America due to the fact that consumers are prepared to spend much more if the product is eco-friendly and manufactured ethically. Therefore, brands are creative to meet these requirements by launching natural and organic ranges, which in turn stimulates growth of the market.
 

The beauty industry, and lipstick in particular, is undergoing a transformation on the purchasing side due to ecommerce which allows customers to buy almost any desired lipstick colour or any brand they are willing to try. The digital world in combination with social networks, online analysis and young beauty influencers is now also an important driver for the sales of conventional products. Moreover, this digital model allows companies to access global markets and adapt quickly to the core of its target consumers’ needs and expectations to improve the brand’s efficiency.
 

Increasing disposable income levels in the Asia-Pacific and Latin American regions have greatly increased lipstick and other types of beauty product consumption. With better standards of living and sharp increases in purchasing capacity, many more people are beginning to afford high-end and luxury beauty products. To take advantage of this trend, companies are customizing marketing strategies and product lines to meet local requirements, in turn, further growing the market in the respective countries.
 

Lipstick Market Trends

• As lipsticks made of organic and natural materials become more affordable, it follows that people are becoming more ecofriendly.
   
• Lipstick domain grew significantly during the fresh outbreak of COVID-19 because of the Internet commerce boost and the spread of Facebook and Instagram lip wear influences. Also, businessmen started expanding their visibility online alongside popular targeted ads.
   
• The huge availability of different kinds of lipsticks made users’ purchasing decisions mostly depend on online reviews and beauty influences. Businesses did this in order to capture a broader audience.
   

Lipstick Market Analysis

• After noting that some lipsticks contain synthetic dyes, lead, and parabens that may be harmful to health and well-being, consumer awareness of the risks became more alert, while at the same time more alternatives began to be demanded. This caused an increased demand for less harmful options but also contributed to focusing on what makeup products contain.
   
• Cosmetic regulation is changing rapidly, and due to this, the conventional lipstick segment is having trouble adjusting. Brands remain limited in expansion and consumers are likely to shift to more expensive organic alternatives if they do not make use of health-centered opportunities of which are trending.
   
• Despite the fact that there have been a number of restrictions, there is considerable potential in the global market for lipsticks because the demand for more customized products is increasing. A greater variety of shades, finishes, and formulas have been made available as the lipstick industry targets a larger market which is expected to expand.
   
• Directly catered to the youth, the added ability of being able to create unique colors and products based on preferences and skin tones is made possible by the help of technology, especially when it was not available before. Especially, the younger generation trusts this trend of broader application customization because they would prefer their beauty goods to be unique and personal to them.
   

The lipstick market is divided by form segmentation into stick, cream, liquid, pencil, powder and others. The stick type dominates the stick form type with a maximum revenue of 3.8 billion in 2023 with an average growth rate of 5.1% in the forecasted period 2024 to 2032.
 

• The global market has also been impacted positively owing to the ready availability of classic lipstick sticks which in turn drives the growth of this market segment. Lipstick sticks tend to be the go-to type of lip wear due to their ease of use with blending into everyday activities easily.
   
• Considering the broad consumer need, this structure can be easily modified to allow brands to provide various types of finishes, such as matte, glossy, and satin. Besides, this type is easily portable and strong in nature, which makes it ideal for people who travel a lot like the working class.
   

Lipstick market on the basis of sales channel distribution has two segments: internet and offline. The offline segment holds the largest market share with 78.4 percent of the global market and anticipates 4.7% CAGR during the envisaged period 2024 to 2032.
 

• The offline segment still dominates the global market due to the consumers’ historical habit of purchasing beauty products in stores. Most customers prefer physical stores mostly because they offer a range of sensory experiences such as allowing the possibility to touch, see, and feel various products including colors and textures such as lipsticks before buying them.
   
• Such opportunities are offered by beauty and specialized shops, department stores and supermarkets, where customers can test products and receive guidance from sales agents in addition to receiving good prices. In such ways, all these factors contribute to better shopping experience which confirms the importance of offline segment for market.
   

In U.S. share of the total north American lipstick market in 2023, U.S. leads with a hefty market 75.4% and a predicted growth of 4.6% during the projection period.
 

• The U.S. is currently a leader in North America market, and this can be attributed to high expenditure on beauty products, the existence of major brands, and a cultural inclination towards grooming and wearing cosmetics.
   
• The US market stands out because of its population with varying tastes for cosmetics; from high end luxurious brands to low end drugstore brands thus creating a huge scope for development at different price levels.
   
• Both established and new beauty brands seek to target the US market with out-of-the-world pricing, one-of-a-kind releases, and marketing that’s tailored to American consumer trends.
   

North America: According to countries, the U.S. lipstick market is the paramount with approximately 75.4% market share in North America as of 2023 and is forecasted to register a positive CAGR of 4.6% during the projected period. The role of the US is which crafted the beauty interface. Due to the celebrities and beauty influencers demands new colors and textures as well as environmentally friendly formulations social media takes over in Great Madame.
 

The market is enhanced by the well-developed retail infrastructure as there are a lot of chain department stores, beauty specialty stores and drugstores around the country that make the products available for consumers. Moreover, the American people’s readiness to shop through the internet has stimulated further e-commerce lipstick sales, giving brands the ability to connect to a wider market.
 

Europe: The European lipstick market for lipstick is forecasted to achieve a CAGR of 4.8% through the forecasted period 2024 to 2032. Germany is renowned for its strong economy market and consumer culture, making it the primary leader in the European market of lipstick. German customers have elevated expectations when it comes to lipsticks since they value quality, safety, sustainable practices and an ethical manufacturing process. Furthermore, Germany boasts many lipsticks that qualify for the strict regulatory standards set by the government which include natural ingredients that are organic.
 

There is an abundance of disposable income and purchasing power among the German population which has resulted in the growth of the economy and the beauty industry as a whole. Germany also possesses a strong cultural footprint that spirituality balances and emphasizes the care for the people. This combination of factors uniquely positions and nurtures the growth of both luxury and premium lipstick in the German market.
 

Asia Pacific: In 2023, China continues to hold the most significant share of approximately 30.4% in the lipstick market across the Asia Pacific region, which is projected to grow at a CAGR of 5.6%? over the next several years. China appears at the forefront of the Asia Pacific market due to the rapid growth of the economy, rising cosmopolitanism and a large appetite for high end cosmetic products. Informants state that young women in China who are influenced by global beauty trends and social media want innovative lipstick products that come in a range of textures, colors, and uniquely designed packages.
 

In addition, the popularity of e-commerce and live streaming commerce in China enabled the easy availability of a multitude of local not only local but also global brands. Such availability has expanded the scope of use of lipstick products and resulted in remarkable growth in the market.
 

Lipstick Market Share

The market is fragmented, with several regional companies operating on a global scale. Together these companies hold a market share of 20%-25% of the total market. In the fragmented market, regional companies are adopting several strategic approaches to gain a competitive edge. They customize the products according to the region’s taste and preference of consumers. Furthermore, these companies are promoting the use of natural and sustainable raw materials with respect to the growing environmental and health awareness among consumers.
 

Lipstick Market Companies

Major players operating in the lipstick industry are:

• AmorePacific
• Avon
• Chanel
• Christian Dior
• Coty
• Estée Lauder
• Inglot Cosmetics
• L'Oréal
• MAC Cosmetics
• Maybelline
• Oriflame
• Procter & Gamble
• Revlon
• Shiseido
• Yves Rocher
   

Lipstick Industry News

• In 2024 February 2024, Estée Lauder and Sabyasachi Mukherjee inscribed their names in history together and flaunted their exquisite Estée Lauder x Sabyasachi Lipstick Collection. The collection is composed of Indian's cultural approaches and as a tribute to India's history, it entails a 10-pack lipstick edition containing bold shades such as "Calcutta Red" and "Bombay Berry." Meanwhile, Sabyasachi's iconic Bengal tiger emblem fuels each lipstick, each of which is enclosed in a gold case. This collection includes both Ultra Matte and Satin Matte finishes.
   
• In October 2023, Maquillage Dramatic Essence Rouge lipstick line, which includes Water Sensing Technology, is set to launch this Fall as stated by Shiseido. The time and effort exerted into ensuring color retention along with transfer minimization is mesmerizing as water evaporates and a network of colorful substances take place across the lips. The age of dependence of traditional lipsticks from film forming agents and adhesive oils has come to an end as this formulation does not feel heavy, adds a glossy feel and retains color for a significant time.
   

The lipstick market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Billion) and Volume (Million Units) from 2021 to 2032, for the following segments:

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Market, By Form

• Stick
• Cream
• Liquid
• Pencil
• Powder
• Others

Market, By Finish Type

• Cream
• Glossy
• Matte
• Natural
• Shimmery
• Others

Market, By Ingredient

• Natural
• Synthetic

Market, By Price range

• Low
• Medium
• High

Market, By Distribution Channel

• Online
  • E-commerce
  • Company websites
• Offline
  • Departmental stores
  • Supermarkets/hypermarket
  • Specialty beauty stores
  • Others

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

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