Lip Powder Market Size, Share & Trends Analysis Report By Product (Palettes, Pen), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2024 - 2030

Lip Powder Market Size & Trends

The global lip powder market size was valued at USD 468.8 million in 2023 and is projected to grow at a CAGR of 6.6% from 2024 to 2030. Some of the key factors influencing growth of this industry are increasing demand for natural and organic cosmetics, rising disposable income levels, increasing availability of diverse products, and changing consumer lifestyle patterns. Rising penetration of e-commerce platforms and ease of accessibility also play crucial role in growing demand for market.

The growing demand for shine-free and lightweight lip colors is a significant factor contributing to the expansion of the lip powder market. Additionally, the increasing popularity of matte lip colors, known for their intense pigmentation and long-lasting, smudge-proof finishes, is further driving this growth. The rise of e-commerce has also played a crucial role by providing consumers with easy access to a diverse range of lip powder products and brands, enhancing market accessibility and convenience.

The digital revolution has transformed the way consumers shop for cosmetics, including lip powders, by offering greater convenience and accessibility. Furthermore, growing number of eco-friendly and sustainably developed products are attracting larger consumer base towards the industry. An increase in awareness regarding malignant effects of chemically made cosmetics has developed greater demand for naturally made and sustainably sourced.

Product Insights

Palette products segment dominated the global industry with a revenue share of 53.4% in 2023. The growth of this segment is mainly driven by portability feature offered by the product. Palettes offers a convenient all-in-one solution for makeup application on the go. This is beneficial for consumers who have busier schedules and want to carry minimum products. Palettes typically includes multiple shades, allowing consumers to experiment with different colors and finishes, who prefer customizing their looks. Moreover, increasing popularity of personalization in beauty sectors is driving growth. Furthermore, growing innovation in new product offerings is catering to different preference and needs of the consumers.

Pen products segment is anticipated to witness fastest CAGR of 7.1% over the forecast period. This segment in primarily driven by factors associated with the product such as ease of use and portability. Social media influence has also played vital role in growing demand for this segment. Strong color offerings and smudge proof quality attracts greater consumer base towards this product. The increasing popularity of lip products among younger consumers who are on the lookout of latest beauty trends and new application methods is expected to assist this market in terms of growth. Enhanced availability, ease of accessibility through online platforms, and diverse range of colors and types offered by the key brands are likely to develop upsurge in demand for this product.

Distribution Channel Insights

The offline distribution segment dominated the market in 2023. The growth is attributed to rise in number of brick-and-mortar specialty stores. These stores offer wide range of cosmetics and beauty products that cater to different consumer needs such as affordability, particular product specifications and preferred choices. Consumers have preferred offline shopping experience as it offers opportunity to examine the quality of the product, immediate possession and assistance by store representatives.

The online distribution segment is projected to grow at the fastest CAGR during the forecast period. This segment is influenced by growing number of online stores operated by brands, inclusion and growing availability of cosmetics on e-commerce websites, and ease of use. Some of the other factors that have generated increasing demand of lip powder through online platforms include services offered by the brands such as doorstep delivery, refund & return, detailed products descriptions, availability of customer reviews by existing buyers and enhanced accessibility.

Regional Insights

North America lip powder market is anticipated to experience the fastest CAGR during the forecast period. This regional industry is mainly driven by the aspects such as growing availability of natural and organic cosmetic products in the region, increasing participation of women in workforce leading to increase in disposable income levels, entry of multiple global brands in the region and ease of accessibility offered by the online shopping portals,

U.S. Lip Powder Market Trends

The U.S. Lip powder market is held a noteworthy revenue share of the regional industry. This market is expected to experience rapid rate of growth owing to factors such as ease of availability, enhanced distribution through offline stores, presence of multiple specialty store in key locations, growing response to e-commerce websites, and diverse range of products offered by the major market participants in the country. In addition, availability of naturally made and sustainably developed products with improved quality standards has generated greater demand for this market in recent years.

Europe Lip Powder Market Trends

Europe lip powder market is identified as significant regional industry in 2023. This market is primarily impacted by the factors such as presence of multiple large enterprises operating in the cosmetics industry. These enterprises are located in multiple countries within the region such France, Italy, Germany and others. Availability of extensive product portfolios offered by the prominent global brands in the industry has attracted greater number of buyers towards premium lip powder products. Furthermore, higher levels of disposable income of women, availability of multiple products through online platforms and growing awareness about benefits associated with use of organic beauty products are expected to develop upsurge in demand for this industry during forecast period.

UK lip powder market is expected to experience lucrative growth during forecast period. The growing awareness regarding cruelty-free practices and increasing demand for organic beauty products is anticipated to drive the growth for this industry. The increasing availability of multiple products offered by brands, entry of numerous global companies in the country, large number of specialty stores in the UK have been generating growth for this market in recent years.

Asia Pacific Lip Powder Market Trends

Asia Pacific lip powder market dominated the global industry and accounted for 29.5% in 2023. This market is primarily driven by the growing disposable income levels of women in countries such as India, China and Japan, availability of multiple global brands in the region, increasing penetration of online platforms offering cosmetic products, growing innovation the industry and diverse range of products offered by the domestic and international brands. Presence of specialty cosmetics stores that offer premium quality products delivered by the major brands in the cosmetics industry also play vital role in growth of this regional market.

China lip powder market held significant revenue share of the regional industry in 2023. This is attributed to large number of products available in the country that are offered by key global brands and domestic manufacturers as well. The growing popularity of online shopping website, ease of availability, and substantial growth in disposable income levels are expected to fuel growth for this market in approaching years.

Key Lip Powder Company Insights

Some of the key companies in the lip powder marketinclude, L'Oréal S.A., BY TERRY, Revlon, Shiseido Company, Limited, and others. Key companies in the market are focusing on adopting strategies such as innovation, collaborations, geographical expansions and increasing digital footprint to generate greater customer base. In addition, multiple brands are relying on available consumer data to effectively distribute and promote their products throughout the global market.

• L'Oréal S.A., one of the prominent companies in beauty and care industry, offers wide range of cosmetics including skin care, hair care, beauty, and others. The company delivers full spectrum of lip products such as liquid lipsticks, traditional bullets, lip glosses, and lip liners as well. Some of its key products include Lip Balm - Gloss Pomegranate Extract, Satin Lipstick, Matte Resistance Liquid Lipstick, and others.

• BY TERRY, a significant brand operating in beauty products industry offers products related to make up for face, eyes, lips and makeup ranges, skincare products such as serums, masks, cleansers, toners, fragrance products and more. Its lip products include lip balms, lip care, liquid lipsticks, click stick and more.

Recent Developments

• In September 2023, Shiseido introduced water sensing technology lipstick, a first of its kind innovative technology, aims to create long-lasting, comfortable lip colour without the need of heavy, sticky formulas. When applied to lips the lipstick interacts with natural moistures on the lips that interacts with coloring materials that helps the color adhere better to lips, resulting in longer-lasting wear.

• In August 2023, L'Oréal S.A. completed acquisition of AESOP, an Australian distinctive luxury beauty brand. This acquisition, marked the largest acquisition in L'Oréal’s history, valued at whopping 2.5 billion USD. The acquisition aims to expand L'Oréal luxury portfolio and leverage Aesop’s success to expand luxury portfolio of beauty care products.

Lip Powder Market Report Scope

Global Lip Powder Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global lip powder market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Palettes

  • Pen

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Offline

  • Online

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia