Lipstick is a beauty or cosmetic product that contains colorants, waxes, oils, and emollients, which gives colour, texture, and protection to lips. Many colours & types of lipsticks exist such has liquid matte lipstick, waxy matte lipstick, lip-gloss, waxy glossy lipstick, etc. Some lipsticks are lip balms that add hydration. It usually comes in a tubular container, and different lipsticks have different methods of application.
According to study, “Lipstick Market by Product Type (Matte, Glossy, Lip Powder, and Others), Form (Stick, Liquid, and Palette), and Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, and Online Stores): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global lipstick market are L’Oréal S.A, Revlon Inc., Coty, Estee Lauder Companies Inc., Shiseido Company Limited, Christian Dior SE, Unilever, Inglot Sp. Z. O. O., Guerlain, and Relouis. The players are focusing on strategic mergers & acquisitions (M&A), product development, and innovative packaging to enlarge their business.
Based on product type, market is segmented into shimmer/pearl/frost, matte, glossy, metallic, luminous, satin/sheer, natural and crème. Matte segment holds major share in market as it offers a good coverage and provides a smooth glide to the lip. Based on color type, market is segmented into red, blue, purple, pink, nude, green, silver, grey, black, violet, maroon, black, orange, yellow, white, multicolor, and gold. Based on age, market is segmented into under 20, 20-30, 31-50, over 50. Based on gender, market is segmented into unisex and female. Based on application, market is segmented into lipstick cream, lipstick pencil, liquid lipstick, lipstick palette and lipstick tube/stick. In addition, based on distribution channel cosmetics stores, convenience stores, supermarkets/hypermarkets departmental stores and online. Supermarket/hypermarket segment dominates the market due to wide array of brands available with different price points. Additionally, online distribution channel market is anticipated to exhibit higher growth rate because of rapid growth of smartphones and high-speed internet during the forecast period.
The market is driven by increase in awareness about aesthetic look, followed by rapid urbanization & change in lifestyle, increase in young population & growth in disposable income and rise in demand for herbal, natural & organic lipsticks. However, use of harmful ingredients and Availability of counterfeit products may impact the market. Moreover, growth in production of organic lipsticks which are paraben-free & formaldehyde-free is a key opportunity for market.
Based on geography, the North-American is a leading region in global market owing to rise in demand for cosmetics and increase in the purchasing power of women in the region. Whereas, the Asian-Pacific and European regions are expected to exhibit considerable growth rate due to change in consumer preference for lipsticks overt he forecast period. In upcoming years, it is estimated that future of the market will be bright as a result of growth in penetration of global brands and increase in availability of lipstick as an affordable luxury to female population during the forecast period. The lipstick market size was valued at US $8.2 billion in 2018, and is anticipated to reach US $12.5 billion by 2026, registering a CAGR of 5.5% from 2019-2026.
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Ankur Gupta, Head Marketing & Communications