Global lipstick market projected to grow to USD 15.53 billion by 2033, driven by demand for natural colors

From GlobeNewswire: 2024-08-23 16:00:00

The Global Lipstick Market is projected to grow from USD 9.47 billion in 2023 to USD 15.53 billion by 2033, with a CAGR of 5.07%. Lipstick ingredients include waxes, oils, pigments, and emollients, offering personal style expression and hydrating benefits. Demand for natural lip colors is rising due to health awareness, although heavy metals in some products pose a threat.

The matte lipstick segment is expected to dominate the market, providing smooth application and superior coverage. Lipstick forms like stick are popular for easy use and varied color choices. Supermarkets and hypermarkets are vital distribution channels for cosmetic sales, with Europe leading the market and Asia Pacific showing rapid growth.

Major vendors in the global lipstick market include Kylie Cosmetics, L’Oréal Group, and Procter & Gamble. Recent developments include Colorbar Cosmetics’ launch of the first 3-in-1 lipstick, ‘Take Me As I Am,’ highlighting trend toward sustainable and vegan beauty products. The industry is forecasted to see significant growth in the coming years, with North America leading in innovation and competitive spirit.



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