Lipstick Market to Witness the Highest Growth Globally in Coming Years
Global lipstick market is forecasted to record $13.4 billion by 2024, and is expected to grow at a CAGR of 6.6% during the forecast period 2019-2024. Rising number of working women population, and inclination toward e-commerce beauty websites are the major factors contributing to the growth of the market, globally.
Based on product type, the lipstick market is segmented into matte, shimmer/pear/frost, glossy, satin/sheer, metallic, luminous, natural, and crème. Of these, satin/sheer category is estimated to hold largest revenue share in 2018, and would continue to display growth in the coming years as well.
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On the basis of distribution channel, the lipstick market is categorized into cosmetic store, supermarkets/hypermarkets, convenience stores, department stores, online, parlors, and grocery shops. Of these, departmental stores category is estimated to hold over 25% revenue share in 2018.
However, matte lipsticks category is expected to exhibit the fastest CAGR, during the forecast period owing to growing preference by consumers pertaining to the availability of diverse color shades in the market.
However, online category is anticipated to witness the fastest growth in the coming years. This is predominantly due to growing preference by working women toward online channel for shopping.
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The lipstick market is moderately competitive. In the recent past, partnerships and facility expansion have been the major activities in the market, globally. For instance, in July 2018, Coty Inc. partnered with DKSH Management Ltd., a market expansion service provider.
The lipstick market is registering major demand for the lipstick products from working women. The maximum share of lipstick was constituted by the age group between 20-40, among women. It is due to change in their lifestyle and rising appearance consciousness.
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Some of the key players in the lipstick market include L’Oréal SA, Shiseido Company Limited, Revlon Inc., Avon Products Inc., Oriflame Holding AG, Coty Inc. Amorepacific Corporation, The Estée Lauder Companies Inc., Christian Dior SE, and Inglot Sp. Z. O. O.
Lipstick Market Segmentation
Market Segmentation by Product Type
- Satin/Sheer
- Matte
- Crème
- Glossy
- Natural
- Metallic
- Luminous
- Shimmer/Pearl/Frost
- Others (gel, duo chrome, triple chrome, and special effect)
Market Segmentation by Color
- Red
- Pink
- Maroon
- Nude
- Others (black, orange, violet, gold, green, silver, grey, silver, yellow, white, blue, purple, and multicolor)