The Global Market for Lip Care Products is Forecast to Reach US$2 Billion by the Year 2020

Growing Demand for Organic and Natural Products Drives the Global Lip Care Products Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Lip Care Products market. The global market for Lip Care Products is forecast to reach US$2 billion by the year 2020, driven by the growing demand for organic and natural lip care products, increasing awareness about the need to protect lips from overexposure to sun, rising interest in lip care by men, and new product innovations.

The global market for lip care products is on a steady growth path, driven by increasing awareness among consumers about the need to protect lips from overexposure to sun, increasing demand for organic and natural products, new product innovations, and increased usage of lip care products by men. The development of faster and longer acting formulas will additionally spur demand growth in both developed as well as developing markets. While continuous launch of newer products at cheaper prices will help spur growth in price sensitive developing markets, increased preference for expensive organic products will encourage growth in developed markets. In addition, the lip care market is also witnessing the emergence and growth of several products for men against the backdrop of the rise of the metrosexual male with high maintenance needs. Apart from men, manufacturers of lip care products are also focusing on manufacturing attractive products for teenagers, as this set of population is considered the most committed consumer group.  With a shift in the consumers taste from wax-based and petroleum-based lip care products to products containing organic ingredients, such as hemp, vegan, and shea among others, the market is witnessing launch of wide number of organic and natural lip care products.

As stated by the new market research report on Lip Care Products, Europe represents the largest market worldwide. Future growth in the region will be encouraged by the slow revival of the European economy and easing of the debt crisis’s asphyxiating hold on the EU economy. Rapid growth in population, increased ability to afford discretionary appearance maintenance products, and availability of a wide range of lip care products present a sizeable growth opportunity for global players in the developing markets. Asia-Pacific is forecast to emerge as the fastest growing market, driven by China and India. China is already a hub for skin care products and is also a leading producer of cosmetics globally. The market for medicated lip care products is the largest accounting for a 49% share of the global market. Blistex is one of the leading brands in the medicated lip care products market. There is strong demand for lip care products that offer exceptional benefits such as deep moisturizing and hydration, optical benefits such as shine and simmer, and longer lasting and water resistant colors, among others. Product innovations built around added benefits, including anti-aging, fragrances, vitamins etc. are already benefiting consumer purchase frequency patterns.

Key players covered in the report include Avon Products Inc., Bayer Corporation, Beiersdorf AG, Blistex Inc., Burt's Bees Inc., Carma Laboratories Inc., Chanel S.A., Chattem Inc., Christian Dior SE, Clarins SA, eos Products LLC, Estée Lauder Inc., GlaxoSmithKline PLC, Johnson & Johnson, Lip Smacker, L’Oreal SA, Procter & Gamble Co., Revlon Inc., Rohto Pharmaceutical Co. Ltd., Mentholatum Company Inc., Shiseido Company Ltd., Unilever NV, and Pfizer Inc., among others.

The research report titled “Lip Care Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product segment analysis, mergers and  acquisitions, and other strategic industry activities of global companies.  The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). Product segments analyzed in the report include Traditional Lip Care Products, Medicated & Therapeutic Lip Care Products, and Sun Care (Lip Care) Products.

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