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Ph based lipstick Market Size
- Report ID: GMI10603
- Published Date: Aug 2024
- Report Format: PDF
Ph based lipstick Market Size
Ph Based Lipstick Market size was valued at USD 609.4 million in 2023 and is anticipated to register a CAGR of 2.6% between 2024 and 2032. The rising trend of personalized beauty products, especially among women, stands out as a key driver for the growth of the Ph-based lipstick market.
According to a report by the U.S. Bureau of Labor Statistics, consumer spending on personal care products increased by 4.5% in 2023. Women today are actively seeking cosmetics that align with their unique preferences. Ph-based lipsticks, known for adapting their color to the wearer's Ph level and skin tone, provide a distinctive beauty experience. With a growing emphasis on personalization in their beauty regimens, women's demand for Ph-based lipsticks is propelling the cosmetics industry forward.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Ph based lipstick Market Size in 2023: | USD 609.4 Million |
| Forecast Period: | 2024-2032 |
| Forecast Period 2024-2032 CAGR: | 2.6 % |
| 2032 Value Projection: | USD 762.6 Million |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 135 |
| Tables, Charts & Figures: | 49 |
| Segments covered: | By product type, finish type, ingredient type, price, distribution channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Furthermore, the surge in e-commerce platforms has significantly bolstered the market's growth. According to the U.S. Census Bureau, e-commerce sales in the United States grew by 7.8% in 2023. Manufacturers are strategically debuting these products on prominent e-commerce platforms like Nykaa, Myntra, and Purple, which are favoured by women. These platforms not only offer enticing deals and discounts on beauty products but also provide access to a broader audience. Collectively, these dynamics are fuelling the increasing demand and hinting at a promising future for Ph-based lipsticks.
The Ph based lipstick market faces tough competition from well-known brands with traditional products. These brands offer a wide variety of lipsticks with different finishes and shades. They have strong distribution networks and a solid market presence, making it hard for new products like Ph-based lipsticks to gain a foothold. Additionally, producing Ph-based lipsticks is more expensive than making regular lipsticks. These lipsticks require complex processes and costly pH-sensitive pigments. Manufacturers need to invest in research and development to create formulas suitable for different skin types, which increases production costs and, in turn, the prices of the products. These challenges could slow down the growth of the Ph-based lipstick market.
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Ph based lipstick Market Scope
