Lip Powder Market Size, Share, Growth, Trend Analysis and Industry Outlook Report, 2019 to 2025
by Susan Hill Business ConsultantThe
global lip powder market size is expected to reach USD
525.9 million by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 6.3% over the forecast period. Growing demand for matte
finish lightweight lip color is fueling the demand for the product. Over the
past few years, consumers of the makeup industry has been experimenting with
new makeup products. Therefore, the lip powder products have gained significant
popularity in the makeup industry. Furthermore, rapidly growing social media
has been influencing the consumers to try new products.
The palette
product segment dominated the market in 2018. Palettes include a balm in the
lip kit, along with a powder color. Consumers prefer this kit as the balm keeps
the skin hydrate. However, pens are easy to apply and more handy than the
palette. Therefore, pens are expected to witness the fastest growth in the near
future.
In terms of
distribution channel, the online segment is expected to witness significant
growth in the projected period. Rapid penetration of internet users has
increased the online sales of the product. Moreover, increasing number of
online retailers across the globe has made the product easily available to the
consumers. As a result, consumer preference is shifting towards online shopping
from the traditional brick and mortar shopping.
As of 2018,
Asia Pacific held the largest market share. Rising concerns over physical
appearance among working women have fueled the market growth in this region. In
addition, increasing spending on personal grooming products in the developing
countries including China, South Korea, Indonesia, Philippines, India, Taiwan,
and Malaysia is boosting the demand for the product.
Key
competitors of this industry include L'Oréal S.A.; The Estée Lauder Companies
Inc.; Shiseido Company; Revlon, Inc.; BY TERRY; Stellar Beauty; Urban Decay;
CLE COSMETICS; CHANEL International B.V.; and Sephora USA, Inc.
Over the
past few years, leading manufacturers of the cosmetics industry are entering
the market to meet the growing demand for the product. For instance, in 2018,
CHANEL International B.V. launched Poudre à Lèvres Lip Balm and Powder Duo. It
contains both balm and powder in the palette format, which is available in
three different shades.
Further key
findings from the study suggest:
- Asia Pacific
held the largest lip powder market share of 30.7% in 2018
- North America
is expected to expand at the fastest CAGR of 8.5% from 2019 to 2025
- The palette
product segment dominated the market in 2018 and accounted for 54.4% share
of the overall revenue
- The offline
distribution channel segment accounted for the largest market share of
90.2% in 2018.
Access full
research report on global lip powder market:
www.grandviewresearch.com/industry-analysis/lip-powder-market
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Created on Oct 7th 2019 08:06. Viewed 446 times.