Global Lipstick Market Report and Forecast 2024-2032

Global Lipstick Market Outlook

The global lipstick market size reached approximately USD 9.75 billion in 2023. The market is further projected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of USD 16.55 billion by 2032.

Key Trends in the Market

Lipstick is a coloured cosmetic product that is applied on the lips to change or improve their appearance. Made of oil and wax, it uses different pigments to produce colour and minerals including silica to provide texture. The colour of lipsticks has cultural and aesthetic significance as different colours have different connotations.

• Adoption of aggressive marketing and promotional strategies by various lipstick manufacturers and distributors is a key trend aiding the lipstick market growth. Social media provides brands the perfect platform for enhancing customer-brand relationship and maintaining and generating brand loyalty. Social media platforms also allow brands to reach their most receptive audience directly.

• Increasing emphasis on personal care and rising disposable incomes coupled with growing population of working women are fuelling the market expansion. Additionally, the rising availability of lipsticks with personalised applicators and customised shades are further boosting its utilisation.

• The rising availability of lipsticks across various online distribution channels is allowing the market expansion as they offer a wide range of products from different brands at discounted prices. The provision of easy returns and fast refunds further enhances consumer convenience.

Market Analysis

Based on product type, the market is divided into shimmer, matte, cream, and longwearing. On the basis of applicator, the market is classified into palette, pencil, tube/stick, and liquid. Based on age group, the lipstick market segmentation includes under 20, 20-30, 31-50, and above 50.

On the basis of distribution channel, the market is categorised into supermarkets and hypermarkets, multi branded retail stores, exclusive retail stores, and online, among others. Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global lipstick market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• L'Oréal S.A.

• Chanel S.A. 

• Christian Dior SE

• Coty Inc.

• Giorgio Armani S.p.A

• The Estée Lauder Companies

• Unilever plc

• Oriflame Cosmetics AG

• Shiseido Company Limited

• Westman Atelier, LLC

• Other

Market Share by Product Type

Shimmer lipsticks are anticipated to account for a significant lipstick market share in the coming years due to the comfort provided by the product because of their easy application and high moisture content. Along with being suitable for both nighttime and daytime looks, shimmer lipsticks are easier to remove as compared to cream, longwearing, and matte lipsticks. These lipsticks have an extra oomph of colour and act like glosses and can be opaque or sheer. They also reflect light, making the lips look smoother or plumper.

Market Share by Region

As per the lipstick market analysis, the Asia Pacific is expected to account for a significant share of the market over the forecast period owing to the increasing penetration of global brands in the region along with adoption of attractive and innovative packaging. The demand for organic and natural beauty products and cosmetics including lipsticks is rising owing to the growing awareness about the benefits of using organic products over the ones containing harmful chemicals. Increasing purchasing power of consumers along with changing lifestyles and increased emphasis on physical appearance is also booting the lipstick market demand.

Competitive Landscape

L'Oréal S.A. is one of the world’s largest cosmetic companies, specialising in perfumes, skin care, hair colour, sun protection, hair care, and makeup, including lipsticks. The company was founded in 1909 and is headquartered in Paris, France.

Chanel S.A., based in London, England, is a world leader in manufacturing, distributing, and creating luxury products. Chanel was established in 1910 and is known for providing a wide range of high-end creations such as skincare, cosmetics, and jewellery.

Coty Inc., a multinational beauty company, founded in 1904 and headquartered in New York, United States, specialises in manufacturing fragrances, skin and body care products, and cosmetics including lipsticks.

Other market players include Christian Dior SE, Giorgio Armani S.p.A, The Estée Lauder Companies, Unilever plc, Oriflame Cosmetics AG, Shiseido Company Limited, and Westman Atelier, LLC, among others.

Key Highlights of the Report