Global Lip Balm Market Report and Forecast 2024-2032

Global Lip Balm Market Size

The global lip balm market is projected to grow at a CAGR of 7.9% between 2024 and 2032, aided by the rising beauty consciousness.

Global Lip Balm Market Outlook

• Japan is a leading destination for major beauty brands, where consumers spend nearly 242 pounds annually on self-care products.

• An average American spends nearly 194.17 pounds annually on purchasing personal care and grooming products. 

• South Korea is another major destination for beauty products, where consumers spend nearly 185.49 pounds annually on grooming products.

Global Lip Balm Market Growth

In countries like the United Kingdom, Australia, and France, the annual spending on personal care products exceeds 180 pounds. Many European consumers from Italy and Spain spend over 130 pounds annually on grooming products. Canada is one of the leading regions in terms of the demand for personal care products, with annual spending exceeding 159 pounds.

The increasing consumer demand for highly refined products is driven by the underlying shift towards more personalised experiences. This has prompted an increase in the demand for flavoured lip balms that blur the lines between sensory indulgence and daily lip care. Popular flavours such as wild cherry, juicy watermelon, and frosted mint embody are driving consumers’ transition toward a gourmet selection of lip care products that offer a novel experience of wearing lip balms.

An average French individual spends nearly 1 hour 45 minutes on personal care and grooming, highlighting the significant potential for new lip balms in the market.

As per the British Skin Foundation, there are 12 cases of lip cancer per 100,000 cancer cases annually in the UK.  Increasing lip care awareness is expected to raise the demand for SPF lip balms that protect the lips from 98% of all sunrays and contain hydrating ingredients like jojoba oil, shea butter, honey, vitamin E, and aloe vera that relieve chapped skin and brighten the lip colour naturally.

Global Lip Balm Industry Segmentation

Global Lip Balm Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Solid Cream Lip Balm

• Liquid Gel Lip Balm

Market Breakup by Type

• Coloured

• Scented

• Others

Market Breakup by End Users

• Men

• Women

• Unisex

Market Breakup by Distribution Channel

• Supermarkets/ Hypermarkets

• Departmental Stores

• Online Stores

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Lip Balm Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period, the Asia Pacific is expected to grow at a CAGR of 10.2% due to increasing consumer spending on premium lip care brands.

Leading Companies in the Global Lip Balm Market

Major beauty brands are focusing on employing innovative marketing strategies to enhance the consumer appeal for designer lip balms, which combine aesthetics and lip care into a single product.

• L’Oréal SA

• Estée Lauder Inc.

• The Clorox Company

• Beiersdorf AG

• Suave Brands Company LLC

• Unilever PLC

• Shiseido Company, Limited

• Johnson & Johnson Consumer Inc.

• Kao Corp.

• eos Products, LLC

• Others

Key Highlights of the Report