Lipstick Market to Surpass $ 17 Billion by 2023, Led by L'Oréal International
Rising
per capita income, increasing demand from working women and
young population, and growing inclination towards natural and organic lipsticks
to drive global lipstick market through 2023
According to TechSci Research report, “Global
Lipstick Market By Product Type, By Distribution Channel, By Region,
Competition Forecast & Opportunities, 2013 – 2023”, the global lipstick
market is projected to surpass $ 17 billion by 2023. Lipstick is a cosmetic
product containing oils, waxes, pigments and emollients that provide texture, color
and protection to the lips. Expanding working women population base, rising
number of product innovations, increasing disposable income and improving
standard of living are few of the major factors anticipated to positively
influence the lipstick market across the globe during forecast period.
Moreover, easy availability of lipsticks through online sales channel, increasing
consumer preference for natural and organic products, and surging demand for
lipsticks in developing nations are anticipated to provide lucrative growth
opportunities to companies operating in the global lipstick market over the
course of next five years.
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Lipstick Market"
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According to the World Bank, the global urban
population share grew from 52.42% in 2012 to 54.29% in 2016 and is further
expected to increase in the coming years, owing to improving economic
conditions, globally. Moreover, with the growth of female population, especially
working women, demand for lipsticks is likely to continue growing in the coming
years. Of the all distribution channels, supermarkets/hypermarkets generate the
highest sales for lipsticks, as they offer the convenience of multiple brands
at a single location and easy accessibility along with lucrative discounts and
offers. Asia-Pacific holds the largest share in the global lipstick market, backed
by huge demand from major developing
economies such as China and India.
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With the availability of unique product
portfolio and a wide product offering under multiple brands, L'Oréal
International is the leading player in the global lipstick market. “Improving
lifestyles, growing urbanization and increasing usage of social media are the
key factors boosting the usage of beauty products, globally. Moreover,
growing demand for natural and organic lipsticks, increasing percentage of
women joining workforce and rising use of convenient and attractive packaging are
few of the major factors expected to drive the lipstick market, globally, through
2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Lipstick Market By Product Type,
By Distribution Channel,
By Region, Competition Forecast &
Opportunities, 2013–2023” has
evaluated the future growth potential of lipstick market and provides
statistics and information on market structure, size, share and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the global lipstick market.
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