The global lip care products market is anticipated to grow significantly at a CAGR of 6.2% over the forecast period (2024-2031). The key aspect that drives the growth of the global lip care products market includes the continuous rise in disposable income, the demand for beauty and personal care products is rapidly rising, which in turn, is driving the lip care products market growth across the globe. Moreover, the high awareness among consumers, the aging population in the West, growing middle-class population in the East, are some other factors that are augmenting the demand for beauty & personal care products, which in turn, is propelling the growth of the global lip care products market during the forecast period.
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Besides, the presence of the key players is also continuously aiding the market growth by innovating novel products. Players such as Bayer AG, Beiersdorf AG, Kao Corp., Kiehl’s LLC, L’Oréal SA, The Estee Lauder Companies Inc., The Procter & Gamble Co., and Unilever PLC among others substantially contribute to the market growth. These players adopt various growth strategies such as product launches, innovations, mergers, and acquisitions in order to thrive in the competitive market.
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Market Coverage
- Segment Covered- By Product Type, Category, and Distribution Channel
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Bayer AG, Beiersdorf AG, Kao Corp., Kiehl’s LLC, L’Oréal SA, The Estee Lauder Companies Inc., The Procter & Gamble Co., and Unilever PLC among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Lip Care Products Market – Segmentation
By Product Type
- Lip Balm
- Lip Oil /Gels
- Lip Butter
- Lip Scrub
- Lip Masks
- Others
By Category Type
- Non-Medicated Lip Care Products
- Medicated and Therapeutic Lip Care Products
- Sun Protection Lip Care
By Distribution Channel
- Online Channels
- Offline Channels
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