DUBLIN--(BUSINESS WIRE)--The "Lip Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global lip care products market was worth US$ 1.94 Billion in 2018. The market is further projected to reach a value of US$ 2.51 Billion by 2024, exhibiting a CAGR of 3.7% during 2019-2024.
This report provides a deep insight into the global lip care products market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
Although females have been the major consumers of lip care products, the market has witnessed a significant interest from male consumers as well, owing to the growing trend of personal grooming among them.
The prolonged, unprotected exposure of lips to the sun can result in wrinkling, premature aging or actinic cheilitis. This has led to an increase in the demand for sun protection lip care products among the consumers.
The increasing focus of the manufacturers on product innovations, development of long-lasting and faster formulas, and attractive product ranges for teenagers have helped in creating a larger consumer-base.
One of the major growth-inhibiting factors is the presence of harmful ingredients, such as artificial skin softeners, manufactured waxes, alcohol, silicon dioxide, etc. in synthetic balms which not only damage the lips but also promote cancer.
Product Type Insights
Based on type, the market has been segmented as non-medicated lip care products, medicated and therapeutic lip care products, and sun protection lip care products. Amongst these, non-medicated lip care products represent the most popular product type.
Distribution Channel Insights
On the basis of distribution channel, supermarkets and hypermarkets are the dominant segment, holding the majority of the market share. Owing to the availability of different brands, larger shelf-space and convenience of choosing the product, hypermarkets and supermarkets are highly popular as a distribution channel. They are followed by specialty retailers, pharmacies and drug stores, online stores and others.
Region-wise, Asia-Pacific represents the leading market for lip care products, holding the largest share. Asia-Pacific is followed by Europe. Other major regions include North America, Latin America, and Middle East and Africa.
The lip care products market is concentrated in nature with a handful of players accounting for the majority of the total global market. Some of the leading players are:
- Revlon, Inc.
- Kao Corporation
Key Topics Covered
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Lip Care Products Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Product Type
5.4 Market Breakup by Distribution Channel
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.8 Value Chain Analysis
5.8.2 Research and Development
5.8.3 Raw Material Procurement
5.9 Porters Five Forces Analysis
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
6 Market Breakup by Product Type
6.1 Non-Medicated Lip Care Products
6.2 Medicated & Therapeutic Lip Care Products
6.3 Sun Protection Lip Care Products
7 Market Breakup by Distribution Channel
7.1 Supermarkets & Hypermarkets
7.2 Specialty Retailers
7.3 Pharmacies & Drug Stores
7.4 Online Stores
8 Market Breakup by Region
8.2 North America
8.4 Latin America
8.5 Middle East & Africa
9 Lip Care Products Manufacturing Process
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success & Risk Factors
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1.1 Company Overview
10.3.1.3 Product Portfolio
10.3.1.5 SWOT Analysis
10.3.2 Revlon Inc.
10.3.3 Kao Corporation
For more information about this report visit https://www.researchandmarkets.com/r/zaac7m