Global Lip Powder Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Lip Powder Market 2021 (Includes Business Impact of COVID-19)
Global Lip Powder Market Trends, Analysis, Applications, Growth Rate, and Market Forecast to 2028 is a report study produced by market research analysts at Trusted Business Insights. The global lip powder market report has been segmented on the basis of product type, sales channel, and region.
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The global Lip Powder market size was valued at USD $313.15 million in 2020 and is projected to reach USD $454.70 million by 2030, and is anticipated to expand at a CAGR of 3.80% over the forecast period from 2020 to 2030.


Lip Powder: Product Overview


Lip powder is a substance that is used to apply on lips in order to add a stylish look as well as to keep them moisturized. Its consistency does not stay ˜powdery after it gets in contact with the lips and applying it becomes smooth and creamy owing to its hydrogel content, and due to which its principal is more identical to lip color rather than a conventional powder.


Lip Powder Market: Driving and Challenging Factors, Various Trends, and Future Market Prospects


Increasing inclination towards maintaining personal look or esthetic appeal, coupled with rising spending capacity among the women population are some of the major factors driving the growth of the global lip powder market. In addition, lip powder is considered as the latest evolution in lip products which offers various benefits over traditional lipsticks. Benefits of lip powder include these products are infused with Vitamin E and hydrating oils, which offer a smooth and long-lasting finish. In addition, lip powder is a blend of shimmer and matte, which is difficult to accomplish with conventional lip products. Aforementioned are some additional factors expected to propel growth of the global market over the next 10 years. In comparison to conventional lipsticks, lip powder gets easily absorbed into lips and adds smooth texture along with long-lasting color and glowing look. This is another factor projected to propel demand for lip powder and drive growth of the target market.

Key trend observed in the global lip powder market is that the manufacturers are focusing on the development and launch of new and innovative cosmetic and beauty products, which is encouraging women population to try multiple options of products and brands. Another ongoing trend in the global market that is expected to gain popularity in the years to come is rising number of consumers preferring to purchase products on E-commerce and M-commerce platforms and various manufacturers focusing on marketing and selling their products on online retail to reach a larger consumer base.

However, these powders have some limitations, that could restrain growth of the global lip powder market. These limitations include the consciousness or concerns regarding any blemishes in the texture of lips after using lip powders. In addition, lack of acceptance of lip powders as womens cosmetic, availability of various other options such as matte and glossy lipsticks and lip glosses, and availability of substitutes at cheaper rates by local players may challenge growth of the global lip powder market to a certain extent.


Segment Analysis By Product Type:


Among the product type segments, the palette segment is expected to contribute significant revenue share in the global market and is projected to continue to dominate in the target market. This is attributable to higher convenience offered by palettes as compared to pens and availability of the multiple shades in a single palette.

By Sales Channel:

Among the sales channel segments, the online segment is projected to register a significant growth rate, owing to easy availability of multiple brand products on a single website or app in order to check reviews, compare product cost and worthiness, easy payments, returns, and refunds, etc.


Global Lip Powder Market: Region Analysis


The North America market is currently dominating in the global lip powder market and is estimated to maintain its dominance over the 10-year forecast period. This can be attributable to strong consumer base of working women. In addition, presence of large number of cosmetic manufacturing companies in countries in this region, and high demand for innovative products from the fashion and entertainment industry are other major factors expected to propel growth of the market in North America. the Europe lip powder market is expected to account for considerable revenue share in the target market, owing to higher demand for enhanced beauty products from female population in the region. The Asia Pacific lip powder market is expected to grow at a significant growth rate in the upcoming 10 years, attributed to increasing utilization of personal grooming products among women, coupled with rising number of working women with financial independence. In addition, rapid expansion of well-known cosmetic retail companies is another factor expected to support revenue growth of the target market in the region.

Global Lip Powder Market Segmentation:

Segmentation by Product Type:

  
Pen
  
Palette

Segmentation by Sales Channel:

  
Offline
  
Online


Key Market Players included in the report:


  
BUXOM Cosmetics
  
BY TERRY
  
CHANEL International B.V.
  
CLE COSMETICS Inc.
  
Clinique Laboratories LLC
  
Cult Beauty Company
  
Essence Cosmetics Company
  
Lique Cosmetics Company,
  
LOrEal S.A.
  
Maybelline LLC
  
NYX
  
Revlon, Inc.
  
Sephora USA, Inc.
  
Shiseido Company
  
Stellar Beauty
  
The EstEe Lauder Companies Inc.
  
Urban Decay Cosmetics