Lip Balm Market: Global Industry Forecast (2022-2029) by Product, Type, Usage, Application, and Region

Lip Balm Market size was valued at US$ 786.19 Mn. in 2021 and the total Lip Balm revenue is expected to grow at 6.55 % through 2022 to 2029, reaching nearly US$ 1306.03 Mn.
Lip Balm Market Overview:
Lip balms are one of the most popular lip care products specially used in the winter. Lip balm is a soft wax-like substance that users apply to their lips to saturate lips and relieve pain caused by dry or chapped lips. As the lips have thin skin, they are more sensitive to dryness than other parts of the body. This wax-like substance protects lips from dry air, wind, and cold weather. Using a lip balm on a daily basis helps restore the lip's natural moisture and nourishes it naturally which keeps lips supple and soft. Growing awareness regarding personal care and grooming is fuelling the lip balm market across the globe.

In this report, the Lip Balm market's growth reasons, as well as the market's many segments (Product, Type, Usage, Application, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Lip Balm market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Lip Balm market situation.To know about the Research Methodology :- Request Free Sample Report
Lip Balm Market Dynamics:
The Lip Balm market is growing due to its various Benefits

Lips are exposed to extreme temperatures both hot and cold which can affect the lips. Applying a layer of lip balm protects the lips from many elements that may cause long-term harm to the lips. One of the advantages of applying lip balm is that it forms a protective layer on your lips, protecting them from harmful UV rays. Constant exposure to UV radiation can cause hyperpigmentation on and around the lips, as well as dryness. Lip balm gives essential protection while also nourishing your pout. Lip balms come in a variety of flavors and aromas. Manufacturers have increased their attention on product innovation, the development of long-lasting and fast-acting formulas, and attractive product offerings for teenagers, which has helped in the development of a wide range of customers. For example, they have produced flavored balms such as vanilla, mango, and strawberry that add shimmer or gloss to the lips while also providing moisturization. Furthermore, the growth of the online platform, rising awareness about lip care, and customers' changing lifestyles are driving the growth of the lip balm market during the forecast period.

Rising awareness for using natural/ Organic lip balms

The rising demand for cosmetics and lip care products is propelling the global lip balm market. People are becoming more interested in using natural products as they become more aware of the ecological and environmental implications of the excessive use of chemicals in everyday products. Natural lip balms are an all-natural way to keep encouraging and nourish healthy lips. Lip balms are often eaten by the user, hence it is imperative that the contents are not harmful to people when consumed.

Lip balms for men are trending nowadays

Lip balms are also available for men. Previously, only women were likely to use lip balm and other lip care products. According to a February 2021 article published by the US PIRG, over 81 % of women and 39 % of men use lip balms. Male consumers who are motivated by celebrities are more likely to use lip care products and it is the latest trend. Furthermore, with the adoption of men's cosmetics and advertising on different online platforms, male customers have increased fast, supporting the significant expansion of the lip balm market over the next years.

Restraint for the Lip balms market

Lip balms are available in a variety of flavors and aromas on the market. However, many of them are nowadays packed with chemicals that might damage your lips. There are also many that come in colors or smell that user may not like. These factors are restraints to the growth of the market over the forecast period.
Lip Balm Market Segment Analysis:
By Product, the Solid Cream Lip Balm segment is used by all age groups of people. These types of lip balms give a nourishing and luminous effect. They often come in various colors and flavors, therefore the users can pick anyone as per their choice and can get the benefits. These lip balms contain SPF 20 which gives protection against UVA & UVB rays. It is made from Avocado Butter, Vitamin E, Shea Butter, Jojoba & Moringa Oil, etc. that offers smooth, soft, and even-toned lips.

By Type, the Coloured lip balms segment is expected to grow during the forecast period. Women have used tinted lip balms that give color to the lips, nourish and moisturize them, and sometimes even contain useful skincare elements like sunscreen or antioxidants. The best feature is that they are versatile.

By Usage, the Women segment dominate the lip balm market in 2021. This is owing to the rise in working women and their use to protect lips from winter and summer.

By Application, the Dry Skin segment has dominated the market in 2021 and it is expected to dominate the market during the forecast period. Lip balm is a thick substance that moisturizes the dry tissues of the lips when applied to lips. It also protects lips when they are exposed to excessive wind, cold, or sun rays. Lip balms also aid in the relieve the pain caused by dryness and the fast healing of lip tissues.
Lip Balm Market Regional Insights:
In North America, Lip Balm Market is expected to grow owing to the increasing emphasis on personal looks with a large range of product options. Furthermore, the growing preference for organic lip care products has pushed manufacturers to invest heavily in R&D activities to develop natural and longer-lasting products. Growing demand for sun protection lip care products, rising population, urbanization, changing lifestyles, and men's preference for lip care products are also fuelling the growth of the lip balm market in this region.

The Asia Pacific accounted for the largest revenue share of more than 38.2% in 2021. As a result of sun exposure, a rising number of individuals are suffering from issues like lip pigmentation and darkening, which is boosting demand for these products, particularly in India. Many brands including L'Oreal S.A are launching and promoting their products through online platforms in this region and are expected to grow the demand for premium lip balm products in this region.

The objective of the report is to present a comprehensive analysis of the Lip Balm market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Lip Balm market dynamics, and structure by analyzing the market segments and projecting the Lip Balm market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Lip Balm market make the report investor’s guide.
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Lip Balm Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 786.19  Mn.


Forecast Period 2022 to 2029 CAGR:
6.55 %
Market Size in 2029:
US $ 1306.03  Mn.


 Segments Covered:
by Product
• Solid Cream Lip Balm
• Liquid Gel Lip Balm


by Type
• Coloured
• Scented
• Others


by Usage
• Women
• Men
• Baby


by Application
• Dry Skin
• Sensitive Skin
• Others



Lip Balm Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Lip Balm Market Key Players
• CHANEL
• Yuesai
• Max Factor
• Elizabeth Arden
• Clinique
• MARY KAY
• Mentholatum
• May belline
• Nivea
• Kiehl
• MAC
• DHC
• SHISEIDO
• Lancome
• Neutrogena
• L’Oreal
• NUXE
• Revlon
• Burt’s Bees
• Blistex
• Vaseline
• EOS
• Carmex
• Labello
• ChapStick
• Lip Smacker
• AVON
• Lypsyl
• CARSLAN
• Ainuo

Frequently Asked Questions:

1. Which region has the largest share in Global Lip Balm Market?
Ans: North America region held the highest share in 2021.

2. What is the growth rate of Global Lip Balm Market?
Ans: The Global Lip Balm Market is growing at a CAGR of 6.55% during forecasting period 2022-2029.

3. What is scope of the Global Lip Balm market report?
Ans: Global Lip Balm Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Lip Balm market?
Ans: The important key players in the Global Lip Balm Market are – CHANEL, Yuesai, Max Factor, Elizabeth Arden, Clinique, MARY KAY, Mentholatum, May belline, Nivea, Kiehl, MAC, DHC, SHISEIDO, Lancome, Neutrogena, L’Oreal, NUXE, Revlon, Burt’s Bees, Blistex, Vaseline, EOS, Carmex, Labello, ChapStick, Lip Smacker, AVON, Lypsyl, CARSLAN, Ainuo, and

5. What is the study period of this market?
Ans: The Global Lip Balm Market is studied from 2021 to 2029.