PUBLISHER: Allied Market Research | PRODUCT CODE: 1365747
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365747
According to a new report published by Allied Market Research, titled, "Lip Powder Market," The lip powder market was valued at $1689.8 million in 2022, and is estimated to reach $2988.8 million by 2032, growing at a CAGR of 6.2% from 2023 to 2032.
Lip powder is an alternative to standard lipsticks, lip glosses, and lip balms. Lip powders are designed to add color, pigment, and offer a variety of finishes to the lips. Lip powders are made up of finely powdered pigments that can be applied with a brush or applicator. This powder can vary in texture and finish, ranging from matte to metallic, satin to shimmer, and even holographic effects. Users have the flexibility to customize the intensity of color by layering or blending the powder onto the lips.
The usage of chemical-based cosmetic products has reduced substantially as consumers become more aware about their benefits. People are also becoming aware regarding the dangers that chemical-based products bring to human health. The rising consumer awareness regarding health & wellness and the environment is anticipated to lead to an increase in demand for organic beauty products. Consumers now have more knowledge regarding the benefits of using chemical-free products owing to the growing number of beauty blogs, influencers, and social media handles.
One of the key factor hampering the market growth is the less awareness among the population regarding lip powder products. As a traditional lip products, consumers might exhibit hesitancy in adopting a new application technique. The challenge of learning using brushes or applicators for precise application could hinder its widespread acceptance, particularly among those seeking quick and effortless makeup routines. Furthermore, the use of lip powders as less convenient compared to traditional lipsticks and glosses. As they require additional tools and potentially more time for application, it might discourage individuals who are looking for ease and on-the-go products.
The increase in consumer awareness about the usage of natural cosmetic products, such as natural lip care products, is expected to create excellent opportunities in the market. This is because 100% natural lip care products have no side effects, prevent premature lip aging, and make the lips colorful and shining. For example, lip powder products manufactured from natural and pure substances, such as creams and powder, have no negative reactions or allergies. The natural cosmetic items are created exclusively of natural materials such as aloe vera, rose oil and do not have any advanced chemicals, synthetic chemicals, or artificial smell. Furthermore, organic nutrients such as Quinoa and Jojoba oil are particularly efficient in preventing premature graying. These factors are expected to boost the lip powder industry expansion during the forecast period.
The COVID-19 pandemic had a significant impact on the cosmetics sector due of the complete lockdown imposed across various countries, which temporarily halted manufacturing activities. Furthermore, the specialized stores and brand outlets where most cosmetics are sold were closed to control the spread of coronavirus, which had a significant impact on the cosmetics demand. Furthermore, work-from-home and social distancing practices have collectively reduced the demand for cosmetics. Individuals who transitioned to remote work found cosmetics less essential due to restricted travel opportunities. In the post-pandemic period, the lip powder market has experienced a transformative impact, as consumer behaviors and preferences evolved in response to the global pandemic.
The key players profiled in this report include: L'Oreal, The Estee Lauder Companies Inc., Revlon, buxom cosmetics, Clinique, CHANEL, Shiseido Company, Limited, Essence Cosmetics, By Terry Paris, and Sephora The market players are continuously striving to achieve an upper hand in this competitive market using strategies such as collaborations and acquisitions.
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