Lipstick market: Key market research findings
- Growing popularity of seasonal launches
- Increased inclination towards matte and nude lipsticks
Technavio has added a new market research report on the global lipstick market, to its beauty care portfolio. The global lipstick market is expected to grow at a CAGR of around 4% between 2015 and 2019, owing to the rising demand for lipstick among the younger population. APAC is the largest revenue contributor in the global market, with around 35% of the total market share. The rise in disposable income in this region is the primary driver for the market growth. Countries such as China and India are expected to provide a huge market potential for vendors in the lipstick market.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“The seasonal trend of lipsticks is one of the most significant contributors of to the growth of the overall global lipstick market. Every year, the top brands launch various lipstick shades which become a fashion statement among the consumers. For instance, winter fashion show of 2014 launched Gucci Luxurious Moisture-Rich Lipstick in Purpurite, pink blush Tom Ford Lips & Boys Lipstick, Deep burgundy while the spring fashion show highlighted pale lips,” says Sriram Mohan, Lead Analyst, Food & Retail, Technavio Research.
Matte lipsticks are one of the most common types of lipsticks used by the consumers. The demand for this segment is higher among the younger generation. These lipsticks are available in deep, opaque colors giving a natural look. Now-a-days, nude lipsticks have gained momentum among consumers as these go well with everything, and match with most of the outfit combinations. The market is witnessing the lipstick fusion concept, where the top brands are launching two-in-one lipsticks for the long-lasting colour and with skin-conditioning ingredients.
The key players in the global lipstick market are L’Oréal, P&G, Estee Lauder, Shiseido, and Avon. The market is highly fragmented due to the presence of key and private providers. Celebrity endorsements and fashion shows are the key techniques used by manufacturers to showcase new trends in lipstick. Multiple product launches and a rise in mergers among many key companies, are expected to intensify competition in the market.
A more detailed analysis is available in the Technavio report, Global Lipstick Market 2015-2019.
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