Lip Powder Market 2019 Deep Analysis of Current Trends and Future Demand by Top Key Players By 2025



The global lip powder market size is expected to reach USD 525.9 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.3% over the forecast period. Growing demand for matte finish lightweight lip color is fueling the demand for the product. Over the past few years, consumers of the makeup industry has been experimenting with new makeup products. Therefore, the lip powder products have gained significant popularity in the makeup industry. Furthermore, rapidly growing social media has been influencing the consumers to try new products.
The Lip Powder market is witnessing a significant rise in demand globally, mainly through online channels. Will the suppliers be able to keep up with this massive surge in demand? Our team is working to account for this rapid surge in our estimates. The report will account for Covid19 as a key market contributor.
The palette product segment dominated the market in 2018. Palettes include a balm in the lip kit, along with a powder color. Consumers prefer this kit as the balm keeps the skin hydrate. However, pens are easy to apply and more handy than the palette. Therefore, pens are expected to witness the fastest growth in the near future.
In terms of distribution channel, the online segment is expected to witness significant growth in the projected period. Rapid penetration of internet users has increased the online sales of the product. Moreover, increasing number of online retailers across the globe has made the product easily available to the consumers. As a result, consumer preference is shifting towards online shopping from the traditional brick and mortar shopping.
As of 2018, Asia Pacific held the largest market share. Rising concerns over physical appearance among working women have fueled the market growth in this region. In addition, increasing spending on personal grooming products in the developing countries including China, South Korea, Indonesia, Philippines, India, Taiwan, and Malaysia is boosting the demand for the product.
Key competitors of this industry include L'Oréal S.A.; The Estée Lauder Companies Inc.; Shiseido Company; Revlon, Inc.; BY TERRY; Stellar Beauty; Urban Decay; CLE COSMETICS; CHANEL International B.V.; and Sephora USA, Inc.
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https://www.grandviewresearch.com/industry-analysis/lip-powder-market/request/rs4
Over the past few years, leading manufacturers of the cosmetics industry are entering the market to meet the growing demand for the product. For instance, in 2018, CHANEL International B.V. launched Poudre à Lèvres Lip Balm and Powder Duo. It contains both balm and powder in the palette format, which is available in three different shades.
Further key findings from the study suggest:
·         Asia Pacific held the largest lip powder market share of 30.7% in 2018
·         North America is expected to expand at the fastest CAGR of 8.5% from 2019 to 2025
·         The palette product segment dominated the market in 2018 and accounted for 54.4% share of the overall revenue
·         The offline distribution channel segment accounted for the largest market share of 90.2% in 2018.
Women are the main consumers of this industry, therefore this population segment is driving the industry across the globe. Over the past few years, increasing participation rate of women in the workforce has been fueling the demand for the luxury personal care products significantly. Financial independent women are now spending more on new makeup products. In addition, rapidly expanding corporate sector in the developing countries is boosting physical appearance enhancement products among working women. Currently, majority of the female population wear lipstick regularly. This, in turn, increases the demand and scope for the product over the world.
Social media, such as YouTube, has become an important factor in influencing purchasing decisions. Rapid expansion of the social media platforms boosted the sale of the makeup products across the world. Key producers of this industry are using this platform including Facebook, Instagram, Twitter, YouTube, and beauty related blogs to promote their brands by including celebrities. These platforms also offer free product centric beauty tutorials to the consumers. It directly connects the manufacturer to the consumers. In 2018, lipstick has been a popular search in google, especially in Taiwan, Indonesia, Hong Kong, Vietnam, and Malaysia.
Though the liquid and cream form of lip color products dominates the lip color industry, the powder form is expected to witness significant growth in the near future. The light and matte finish properties of the product gives advantage over the other forms of lip colors. It contains glycerin, coconut oil, and vitamin E, which help to hydrate skin and the presence of silica spreads the pigments smoothly. Furthermore, it has better longevity than the conventional lipsticks.
Palette was the largest product segment in the market, accounting for 54.4% share of the global revenue in 2018. Palette is the lip kit that contains pigmented balm and metallic powder in the same kit. The balm offers the perfect base for the powder and keeps the skin hydrated. Furthermore, it allows the consumers to experiment with product.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-lip-powder-market
Grand View Research has segmented the global lip powder market on the basis of product, distribution channel:
Lip Powder Product Outlook (Revenue, USD Million, 2015 - 2025)
·         Palette
·         Pen
Lip Powder Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Online
·         Offline
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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