Demand for Lip Care Products with SPF Benefits Driving the Global Lip Care Products Market Through 2020, Says Technavio

LONDON--()--According to the latest market study released by Technavio, the global lip care products market is expected to grow at a CAGR of more than 4% during the forecast period.

This research report titled ‘Global Lip Care Products Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

According to Brijesh Kumar Choubey, a lead analyst at Technavio for cosmetics and toiletry research, “The global lip care market is seeing increased demand for organic and natural lip care products, alongside growing interest in lip care products for men and rising awareness about the need to protect lips from overexposure to the sun. Europe is the leading market, followed by the Americas, APAC and MEA.”

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The report categorizes the global lip care products market into three major product segments. They are:

  • Non-medicated lip care products
  • Medicated and therapeutic lip care products
  • Sun protection lip care products

Global non-medicated lip care products market

This global non-medicated lip care products market is likely to reach USD 1.5 billion by 2020, growing at a CAGR close to 4%.

Non-medicated lip care products include lip butters, lip conditioners, and lip balms that provide moisturizing benefits and shine. The primary target consumers for these products are teenagers and millennials. Product and brand loyalty plays a vital role in this segment. Popular brands of these products are ChapStick, Vaseline, Carmex, and L’Oréal.

Global medicated and therapeutic lip care products market

This market for medicated and therapeutic lip care products is expected to exceed USD 616 million by 2020, growing at a CAGR of over 6%.

Medicated lip care products help prevent dryness and chapping, and sooth irritated dry lips. They contain ingredients such as allantoin, camphor, and phenol, and are in higher demand during the winter season when lips are more susceptible to dryness. Blistex, Vaseline, Burt’s Bees, ChapStick, EOS, and Maybelline are a few vendors that manufacture medicated lip balms.

Global sun protection lip care products market

This market for sun protection lip care products is likely to exceed USD 143 million by 2020, growing at a CAGR of almost 6%.

The extreme heat and UV radiation of the sun are harmful to the human skin, particularly so for the sensitive skin of the lips. “Vendors are investing significantly in efforts to raise awareness of the benefits of using lip care products with SPF ratings. They have launched lip care products with varied SPF levels to suit different skin tones,” says Brijesh. Some of the popular vendors manufacturing sun protection lip care products are Beiersdorf, Johnson & Johnson, and L’Oréal.

The top vendors in the global lip care products market highlighted by Technavio’s research analysts are:

  • Avon Products
  • Beiersdorf
  • L’Oréal
  • Revlon
  • Unilever

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global lip care products market is expected to grow at a CAGR of more than 4% during the period 2016-2020.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com