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Lip Care Products Market size was valued at USD 2.01 billion in 2019 and is poised to grow from USD 2.17 billion in 2023 to USD 3.86 billion by 2031, growing at a CAGR of 7.9% in the forecast period (2024-2031).

lip care products market is highly competitive with the presence of several well-known international and regional market players operating around the globe. Major companies of the market are focusing on various business strategies including mergers & acquisitions, partnerships, collaborations, new product launches, and research & development for the development of their geographical presence and expanding their product portfolio. 'Johnson & Johnson Services Inc.', 'Beiersdorf AG', 'The Procter & Gamble Company', 'L'Oréal S.A.', 'Avon Products Inc.', 'The Estée Lauder Companies Inc.', 'Unilever', 'Kao Corporation', 'The Body Shop International Limited', 'Revlon, Inc.', 'Shiseido Co., Ltd.', 'Burt's Bees', 'EOS Products, LLC', 'Maybelline LLC', 'LVMH Moët Hennessy Louis Vuitton SE', 'Natura & Co Holding S.A.', 'Coty Inc.', 'Henkel AG & Co. KGaA', 'Colgate-Palmolive Company', 'Blistex Inc.'

The rising awareness towards protecting lips from excessive sun exposure and easy availability of lip care products around the world are the major key factors driving the growth of the lip care products market during the forecast period. The skin on lips is very thin and completely devoid of melanin, which makes is important for people to protect them from the sun. Hence, the demand for lip care products is growing at a significant pace.

Increasing popularity of organic and natural plant-based lip care products with the rising prevalence of working women and their spending capacity is influencing the lip care market positively. In the last few years, consumers are opting for lip care products with no presence of hazardous chemical products and synthetic, which has resulted in the growth of the market for natural and organic product solutions around the globe. Consumers are highly preferring these products to enhance, nourish, and repair their pale and dark lips caused by smoke and other reasons.

Globally, Asia Pacific dominated the lip care products market and accounted for a healthy market share in 2021 and is set to continue its dominance over the forecast period. Increasing consumer base and rising awareness towards issues related to lip pigmentation, darkening, and sun exposure is likely to be the key factor driving the growth and demand for lip care products in the near future. Furthermore, wide presence of large market players including Kao Corporation and The Himalaya Drug Company and rising investment in research & development sector are projected to fuel the demand for lip care products in the region.

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Global Lip Care Products Market

Product ID: SQSG30L2052