Lip Balm Market Scope
Lip balm is wax-like preparation typically applied to the lips to moisturize and relieve cracked, dry lips. Usually, lip balm contains beeswax, carnauba wax, camphor, cetyl alcohol, lanolin, paraffin, and petrolatum, among other ingredients. On the basis of types, lip balm is segmented as solid cream lip balm and liquid gel balm. Further, lip balm is classified as stick lip balm and Tin lip balm. Currently, the use of natural or organic ingredient lip balm is trending in the market. Increasing disposable income among working women and growing awareness of cosmetic products robust the growth of Global Lip Balm market.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | L'Oréal S.A (France), Nivea Seoul Ltd. (Beiersdorf) (South Korea), Unilever (United Kingdom), Maybelline LLC (L'Oréal S.A) (United States), Himalaya Drug Company (Himalaya Global Holdings Ltd.) (India), GlaxoSmithKline Plc. (United Kingdom), Revlon (MacAndrews & Forbes) (United States), Pfizer Inc. (United States), Carma Labs Inc. (United States) and Burt's Bees (United States) |
CAGR | % |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Lip Balm market throughout the predicted period.
L'Oréal S.A (France), Nivea Seoul Ltd. (Beiersdorf) (South Korea), Unilever (United Kingdom), Maybelline LLC (L'Oréal S.A) (United States), Himalaya Drug Company (Himalaya Global Holdings Ltd.) (India), GlaxoSmithKline Plc. (United Kingdom), Revlon (MacAndrews & Forbes) (United States), Pfizer Inc. (United States), Carma Labs Inc. (United States) and Burt's Bees (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are SAFETEC OF AMERICA, Inc. (New York), TEXAS BEAUTY LABS (United States) and BLISTEX INC. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Lip Balm market by Type , by Application (Lip balm for women, Lip balm for men, Lip balm for baby and Other dedicated lip balm) and Region with country level break-up. On the basis of Type, Liquid Gel Lip Balm are dominating the market in the year 2022 where as Solid Cream Lip Balm stood as second largest market share.
On the basis of application, Lip Balm for Women segment is dominating the market in the year 2022 where as Lip Balm for Men segment stood as second largest market.
On the basis of geography, the market of Lip Balm has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In April 2021, Organic lip care brand leader, Eco Lips has acquired of Simply Soothing (simplysoothing.net/), a fellow Iowa-based personal care company responsible for bringing Bug Soother Insect Repellent to the market. The acquisition will help accelerate the growth of Bug Soother, a natural bug repellent recognize.
In January 2023, Himalaya Wellness Company, the herbal health and personal care brand,has launched of its two new lip balm variants Cherry Shine & Berry Shine Lip Balms. Comprising of natural ingredients like sweet cherry oil, vitamin E, blueberry, blackberry, and cranberry oils; the lip balms are the seventh and eighth variant launched under Himalaya’s lip-care category.
Influencing Trend:
Increasing Use of Organic Lip Balm
Market Growth Drivers:
Growing Awareness of Cosmetic Products and Increasing Disposable Income among Women
Challenges:
Lip Balm Ingredients Can Cause Allergic Reactions
Restraints:
Side Effects Associated With Use of Lip Balm
Opportunities:
Product Innovation will Create New Opportunity for Lip Balm Market
Key Target Audience
Lip Balm Manufacturers, Raw Materials Suppliers, Government, Research & Development Organizations, Industry Associations, End Users and Others