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Lip Powder ProduLip Powder Products Market Size, Share, & Trends Analysis Report (2023 – 2030)cts Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global lip powder products market was valued at USD 22.7 billion in 2022 and is projected to expand at a CAGR of 12.1% from 2023 to 2030. Lip powder products are gaining popularity in the beauty industry due to their long-lasting nature and easy application. Lip powders are also highly pigmented, allowing users to create a range of looks. Furthermore, they are a great alternative to traditional lipstick, as they are more affordable, easier to apply, and more versatile.
Lip powders are available in a variety of shades, finishes, and textures, making them suitable for a wide range of skin tones. The rising demand for natural and organic lip powder products is driving the growth of the global market. Manufacturers are increasingly producing lip powder products that are free from parabens, sulfates, and other synthetic chemicals. For instance, in February 2021, ColourPop Cosmetics launched a new lip powder product line, which is free from gluten, parabens, and phthalates.
The increasing popularity of lip powder products among consumers is propelling the growth of the market. Furthermore, the growing trend of ‘no-makeup makeup’ is also driving the demand for lip powder products. Consumers are increasingly opting for minimal makeup products with natural ingredients, which is expected to propel the growth of the lip powder products market. Additionally, the growing adoption of lip powder products as a replacement for lipstick is expected to further drive the market growth.
The growing popularity of lip powder products among millennials and Gen Z is also driving the growth of the market. Millennials and Gen Z are the primary adopters of lip powder products, and they are increasingly turning to these products to create their desired looks. Furthermore, the growing number of influencers and beauty bloggers on social media platforms is driving the demand for lip powder products.
Moreover, the rising demand for multifunctional lip powder products is also driving the growth of the market. Manufacturers are increasingly launching lip powder products that can be used as a blush, eyeshadow, or lip color. For instance, in June 2021, MAKE UP FOR EVER launched a new lip powder product line, which can be used for multiple purposes. The company also offers eight different shades of its lip powder products, including pink, red, and brown.
Product Insights
The lip powder segment is anticipated to register the highest CAGR of 18.2% during the forecast period. Lip powder is gaining immense popularity among the youth and is becoming a must-have product in their beauty kits. According to an article published by Beauty Bay, in February 2020, lip powders are becoming more popular among young generation due to their convenience and long-lasting effect. Furthermore, rising consumer preference for natural and organic lip powder products, increasing spending on cosmetics, and increasing demand for matte lip products are some of the factors driving the lip powder market growth.
The lip liner segment is expected to hold a major market share over the forecast period. Lip liners provide a wide range of color options and help in defining the lip shape. The increasing demand for lip liners due to its effectiveness in providing fuller lips is boosting the market growth. Furthermore, the rising trend of using lip liners to create new lip shades, such as ombre lips, is also driving the demand for lip liners. According to an article published by Allure, in August 2020, ombre lip look is becoming a popular trend among the beauty enthusiasts.
Distribution Channel Insights
The supermarkets and hypermarkets segment is expected to capture the major share of 43.2% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase beauty and personal care products. According to a study by Euromonitor in 2020, consumers are drawn to the wide range of products available in supermarkets & hypermarkets, and the convenience that they offer. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required lip powder product.
The online segment is anticipated to expand at the highest CAGR of 11.7% over the forecast period. E-commerce development in the personal care and lip powder industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in January 2021, Nykaa launched a lip powder section on their website, offering a wide range of lip powder products from various brands. In addition, the website also offers exclusive discounts, offers, and deals on lip powder products.
Type Insights
The mass segment accounted for the largest revenue share of 73.4% in the year 2022. The increasing availability of mass lip powders at retail stores, drug stores, and online stores is augmenting the demand for mass lip powder products. Companies such as L’Oreal and Maybelline offer lip powder products in their mass portfolio. For example, Maybelline New York launched its Color Sensational Powder Matte Lipstick in 2020. The product is available in 10 shades and has a matte finish. These products are driving the growth of the mass segment.
The premium segment is anticipated to expand at the highest CAGR of 11.3% over the forecast period. The growing trend of lipstick layering, wherein people apply a lipstick and top it off with a lip powder to create a multi-dimensional look, is driving the demand for premium lip powder products. Moreover, the increasing popularity of K-Beauty products is further propelling the growth of the premium segment. For instance, in 2021, beauty brand Innisfree launched its new lip powder product, called Jeju Color Picker Powder Lipstick, which is available in seven shades.
Regional Insights
The Asia Pacific accounted for the largest revenue share in 2022 and is expected to maintain its dominance in the upcoming years. This growth can be attributed to the increasing demand for affordable products in countries like India and China. Additionally, the region is home to some of the leading cosmetic companies, such as Amorepacific, Shiseido, and Unilever, which is further aiding the growth of the market. For instance, in April 2022, Amorepacific launched a new lip powder product called Color Sense, which is available in four shades and offers a light, silky texture.
North America is expected to witness the second-fastest growth in the coming years. The presence of well-established companies, such as Estee Lauder, Mac Cosmetics, and Clinique, is expected to fuel the growth of the market in the region. Additionally, the increasing trend of using lip powder products among various age groups is expected to drive the growth of the market. For instance, in June 2021, Mac Cosmetics launched its first-ever lip powder product called ‘In The Buff’, which is available in six shades.
Financial Projections
In this part of the lip powder products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your lip powder business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a lip powder products business comes from direct sales, wholesale orders, and partnerships with retailers. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, subscription services, membership fees, and advertising.
Projecting Expenses
In this section, all the regular expenses related to keeping the lip powder products business running will be described. The list of operating expenses includes ingredients, packaging, marketing and advertising, taxes, wages, utilities, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the lip powder products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, L’Oreal Paris launched the Infallible Pro-Gloss Lip Powder, a new lip powder that offers a natural matte finish.
– In August 2022, Estee Lauder Companies, Inc. launched the Powder Kiss Lipstick, a liquid-to-powder lip formula that provides a matte finish.
– In October 2022, Maybelline New York launched the Color Sensational Powder Matte Lipstick, a long-lasting matte lip product.
Some of the prominent players in the lip powder products market include:
– L’Oreal Paris
– Estee Lauder Companies, Inc.
– Maybelline New York
– Revlon Inc.
– Avon Products, Inc.
– Coty, Inc.
– M.A.C. Cosmetics
– Sephora
– Anastasia Beverly Hills
– Urban Decay Cosmetics
Global Lip Powder Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global lip powder products market based on product, distribution channel, gender, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Lipstick
– Lip Gloss
– Lip Balms
– Lip Liners
– Lip Powders
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Gender Outlook (Revenue, USD Million, 2017 – 2030)
– Men
– Women
– Unisex
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Lip Powder Products Market?
[A]: Product innovation is key to the success of the Lip Powder Products Market. Manufacturers are focusing on developing products with new textures, colors, and finishes to meet the changing needs of consumers. Additionally, manufacturers are focusing on the development of organic and natural products, which are gaining popularity among consumers.
[Q]: Who are the Key Players in the Lip Powder Products Market?
[A]: The key players in the Lip Powder Products Market are L’Oréal S.A., Coty, Inc., The Estée Lauder Companies Inc., Edgewell Personal Care Co, Johnson & Johnson Consumer Inc., and Koninklijke Philips N.V.
[Q]: Which Region Offers the Largest Opportunity for Sales of Lip Powder Products?
[A]: Asia Pacific is expected to witness the highest growth during the forecast period. Increasing disposable income, changing lifestyles, and rising awareness about the benefits of lip powder products are expected to drive the market in the region.
[Q]: What are the factors driving the Lip Powder Products market?
[A]: Factors such as increasing demand for natural and organic products, rising disposable income, and growing awareness about the benefits of lip powder products are expected to drive the market. Additionally, increasing demand for lip makeup products, such as lipsticks and lip balms, is also expected to drive the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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