The net valuation of the market is pegged at US$ 467.4 million in 2023 according to the latest lip powder market report. Over the forecasted period from 2023 to 2033, the global sales of lip powder are expected to develop at a CAGR of 5.8%. Furthermore, by 2033 end, the overall valuation of the market is forecasted to reach US$ 821.4 million.
Rising lip powder sales in recent years indicate a profound change in cosmetic tastes, with customers favoring adaptable, long-lasting, and cost-effective cosmetics. The support of influencers and celebrities over lip powder brands, and a growing need for diversity and ethical sourcing, are also fueling this movement.
Improving beauty and its positive impact on enhancing one’s sense of self are igniting consumer interest in lip powder and other cosmetic products. Besides that, cutting-edge developments in lip powders with luxurious packaging are also most likely to propel the market during the forecast years. Also, an increase in the percentage of working women brought on by rapid urbanization could have an influence on higher sales of lip powder.
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Key Takeaways from the Lip Powder Market Study
- In 2022, the United States witnessed a 25.8% share of the global sales of lip powder, dominating the entire global market.
- Germany leads the market with a 5.8% global market share in the year 2022.
- Japan is likely to register a 9.7% growth rate.
- The market in China might follow a 7.6% annual growth rate in the forecast period.
- The palettes sub-segment captured 53.9% of the global market revenue in 2022.
- The under-30-year-old age group became the leading end user of lip powder in 2022 with a 37.4% market share.
“Leading market players are also spending highly over sponsorship of social media videos by influencers to enhance their market position. Moreover, endorsing celebrities and its frequent appearance on the lips of fashion enthusiasts has surely helped brisk sales of lip powder,” says an FMI analyst.
Key Players Profiled in the Lip Powder Market Research
- L’Oréal S.A.
- Maybelline LLC
- MAC Cosmetics
- By Terry
- NARS Cosmetics
- Stellar Beauty
- Urban Decay Cosmetics
- NYX PROFESSIONAL MAKEUP
- BUXOM Cosmetics
- Clinique Laboratories, LLC
- CLE COSMETICS
- Lique Cosmetics
- Revlon, Inc.
- Christian Dior SE
- Cult Beauty Ltd.
- CHANEL Company
- Essence Cosmetics
- Sephora USA, Inc.
- Huda Beauty
- Younique, LLC
Competitive Landscape for the Lip Powder Market
Low competition in the lip powder market enables smart ventures into undeveloped territory that hold huge potential for sales of organic cosmetics. Nevertheless, in the ever-changing and highly competitive beauty market, innovative marketing approach has considerably fragmented the overall market.
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Lip powder companies have an immense chance to pioneer new formulas and concepts to appeal the customers’ changing tastes. For the great attractiveness of lip powders for beginners, additional textures, coatings, or skincare advantages might be introduced. Besides, social media advertising is among the most successful strategies utilized by many lip powder businesses these days.
Recent Developments in the Lip Powder Industry
- Revlon Company introduced its brand-new product line of lip powder under the name of High Fever in November 2022. This limited edition of 5 5-tone color charge lip powder palette, has countless options for personalizing and enhancing users’ lip appearance.
- In October 2022, CHENEL Company released its ‘Rogue Allure’ liquid powder matte lipstick. This new product has been specially designed to change user’s go-to beauty look particularly after the summer season.
Global Lip Powder Market Segmentation
By Form:
- Palettes
- Pens
By End User:
- Under 18 Age Group
- Up to 30 Age Group
- Up to 45 Age Group
- Above 45 Age Group
By Sales Channels:
- Specialty Outlets
- Convenience Stores
- Beauty Stores
- E-Retailers
- Other Sales Channels
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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