The lip gloss market has shown significant growth recently, expanding from $3.56 billion in 2023 to $3.77 billion in 2024, with a compound annual growth rate (CAGR) of 6.1%. This historical growth is attributed to factors such as the expansion of retail and beauty supply stores, the rise of online beauty communities, increasing popularity of mix-and-match beauty products, growth in cosmetic advertising, and a rise in disposable income. Looking forward, the market is expected to continue growing strongly, reaching $4.81 billion by 2028, with a CAGR of 6.3%. The projected growth is driven by increasing demand for beauty products, growing awareness of personal grooming, a rising number of beauty salons, the increasing purchasing power of women, heightened awareness of skin-friendly ingredients, and a growing demand for customizable lip gloss. Major trends expected in the forecast period include technological advancements, cruelty-free formulations, augmented reality applications, refillable lip gloss products, and customizable lip products.
Global Lip Gloss Market Key Driver
The growth of the cosmetics industry is expected to drive the lip gloss market. The cosmetics industry, encompassing the development, manufacturing, and marketing of personal care and grooming products, is expanding due to innovation, social media influence, increasing consumer demand, and a focus on natural products. Lip gloss enhances the appearance of lips with a shiny finish, adding color or shimmer. According to the Cosmetic Toiletry and Perfumery Association, color cosmetics sales climbed from 112.26 million units in 2021 to 118.17 million units in 2022, and skincare product sales increased from 461.47 million units to 479.57 million units over the same period. Therefore, the expanding cosmetics industry drives the lip gloss market.
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Global Lip Gloss Market Segments
The lip gloss market covered in this report is segmented –
1) By Finish: Glossy, Matte, Glitters, Other Finishes
2) By Category: Conventional, Organic And Natural
3) By Distribution Channel: Super markets Or Hyper markets, Beauty Stores, Specialty Stores, Online Platform, Other Channels
By Geography:The regions covered in the lip gloss market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the lip gloss market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Lip Gloss Industry Players
Procter & Gamble Co., L'Oréal S.A., Neutrogena Corporation, The Estée Lauder Companies Inc., Chanel S.A., Shiseido Company Limited, Coty Inc., Avon Products Inc., Giorgio Armani S.p.A., Makeup Art Cosmetics (MAC), Revlon Group LLC, Oriflame Cosmetics Global SA, Burt's Bees LLC, Maybelline LLC, Kendo Holdings Inc., NARS Cosmetics Inc., ColourPop Cosmetics LLC, Bourjois S.A., Elizabeth Arden Inc., Bo International Ltd., MPlus Cosmetics, Auraline Beauty
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Lip Gloss Market Overview
Lip gloss is a cosmetic product applied to the lips to give them a shiny, glossy appearance, often with a subtle hint of color. It can be used alone or over lipstick to enhance the lips' natural look. They typically come in liquid or semi-solid form, packaged in tubes or small pots, and are applied with a brush, wand, or directly from the container.
Lip Gloss Global Market Report 2023 provides data on the global lip gloss market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The lip gloss market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
