The global lip care market size was USD 2,960.0 Million in 2021 and is expected to register a revenue CAGR of 4.9% during the forecast period. Concerns about excessive sun exposure, dryness, and lip discoloration are factors driving the market revenue growth. An increasing number of male and female consumers are adopting these items owing to the increasing trend of well-being and personal care, which is the major factor driving demand for lip care products. 

Manufacturers have been putting an increased focus on new product developments, the creation of long-lasting and quick-acting formulae, and appealing product lines for teenagers, all of which have contributed to growth of the consumer base. For example, they have developed a number of flavored balms such as mango, strawberry, and vanilla that moisturize the lips while also adding shine or glitter. Manufacturers in the U.S. are concentrating on developing lip care products with sustainably based ingredients owing to growing concerns about reducing Plastic use and trash disposal. On 8 June 2021 for example, Ethique, Inc. introduced a new line of lip balms in the U.S. The product offers 100% home compostable tubes and naturally derived plant-based materials that are devoid of plastic.

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Top Companies:

Avon Products Inc.
Beiersdorf AG
Shiseido Company
Limited
Revlon Consumer Products Corporation
Unilever plc
Kao Corporation
Bayer AG
The Clorox Company
eos Products LLC
Carma Labs Inc.

The Lip care market in Europe is expected to register a moderate revenue growth rate over the forecast period. Increased demand for lip care products among consumers in various countries has increased the number of manufacturers offering to them. On 22 December 2021 For instance, Abovebeyond, which is a U.K. startup, invented a Plastic free, refillable, and reusable lip balm that is meant to last a lifetime. The lip care market growth in this region is also being driven by rising consumer inclination toward modern lifestyles and the adoption of changing fashion and beauty trends. The cold climate of western countries causes more lip issues and infections, resulting in drive-up demand for lip care products.

The market in North America is expected to register a steady revenue CAGR over the forecast period. The growing demand for therapeutic and medicated lip care products, UV protection lip care products, and a growing number of manufacturers who serve the region are all major factors contributing to revenue growth of the market in the region during the forecast period.

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Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)

The Lip Care market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Lip Care market.

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Frequently Asked Questions Addressed in the Report:

• What is the estimated market revenue growth over the forecast period?
• What are the major factors driving the global Lip Care market revenue growth?
• Which regional market is expected to account for the largest revenue share in the global Lip Care market over the forecast years?
• Which are the leading players in the global Lip Care market?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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