The global lip gloss market size was USD 3.65 Billion in 2021 and is expected to register a revenue CAGR of 5.0% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is expected to be driven by increasing demand for cosmetic products among female population and a growing number of beauty salons across the globe.
Cosmetics have become an indispensable part of the modern lifestyle of individuals, especially among women. Increased consciousness about external beauty has become a major factor driving the global market. In addition, rising number of beauty salons has encouraged females to try various cosmetic products such as glossy or matte finish lip gloss to complement their face make-up. The majority of women population is extremely reliant on beauticians and salons for their makeup to match the outfit according to the occasion. Furthermore, easy accessibility of lip gloss products through online platforms and beauty stores is expected to drive revenue growth of the global market.
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The global Lip Gloss market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant based food products. Moreover, rising health conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.
The research report offers details about leading companies in the global Lip Gloss market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
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- Procter & Gamble,
- L'Oréal S.A.,
- Oriflame Cosmetics Global SA,
- Sheseido Company,
- Giorgio Armani S.p.A.,
- Chanel S.A.
The report also sheds light on the market segmentation based on type, application and region:
By Finish Outlook
By Category Outlook
- Organic & Natural
By Distribution Channel Outlook
- Beauty Stores
- Specialty Stores
- Online Platform
Lip Gloss Market Segmentation based on Regions:
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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