Global Lip Powder Market Recent Trends, Growth Driving Factors, Challenges, Opportunities, Strategies, Recent Developments, Product Segments, and Growth Forecast 2023– 2033

Global Lip Powder market is estimated at USD 439.7 Mn in 2022 and is projected to reach USD 692.1 Mn by 2033 exhibiting a growth rate (CAGR) of 4.26%

“Global Lip Powder Market Trends, Analysis, Applications, Growth Rate, and Market Forecast to 2028” is a report study produced by market research analysts at MarketResearch.biz. The global lip powder market report has been segmented on the basis of product type, sales channel, and region.

Lip Powder: Product Overview

Lip powder is a substance that is used to apply on lips in order to add a stylish look as well as to keep them moisturized. Its consistency does not stay ‘powdery’ after it gets in contact with the lips and application it becomes smooth and creamy owing to its hydrogel content, and due to this its principal is more identical to lip color rather than a conventional powder.

Lip Powder Market: Driving and Challenging Factors, Various Trends, and Future Market Prospects

Increasing inclination towards maintaining personal look or esthetic appeal, coupled with rising spending capacity among the women population are some of the major factors driving the growth of the global lip powder market. In addition, lip powder is considered as the latest evolution in lip products which offers various benefits over traditional lipsticks. The benefits of lip powder include these products are infused with Vitamin E and hydrating oils, which offer a smooth and long-lasting finish. In addition, lip powder is a blend of shimmer and matte, which is difficult to accomplish with conventional lip products. The aforementioned are some additional factors expected to propel the growth of the global market over the next 10 years. In comparison to conventional lipsticks, lip powder gets easily absorbed into lips and adds smooth texture along with long-lasting color and a glowing look. This is another factor projected to propel the demand for lip powder and drive the growth of the target market.

Key trend observed in the global lip powder market is that the manufacturers are focusing on the development and launch of new and innovative cosmetic and beauty products, which is encouraging the women population to try multiple options of products and brands. Another ongoing trend in the global market that is expected to gain popularity in the years to come is the rising number of consumers preferring to purchase products on E-commerce and M-commerce platforms and various manufacturers focusing on marketing and selling their products on online retail to reach a larger consumer base.

However, these powders have some limitations, that could restrain the growth of the global lip powder market. These limitations include the consciousness or concerns regarding any blemishes in the texture of lips after using lip powders. In addition, the lack of acceptance of lip powders as women’s cosmetics, availability of various other options such as matte and glossy lipsticks and lip glosses, and availability of substitutes at cheaper rates by local players may challenge the growth of the global lip powder market to a certain extent.

Segment Analysis

By Product Type:

Among the product type segments, the palette segment is expected to contribute a significant revenue share in the global market and is projected to continue to dominate in the target market. This is attributable to the higher convenience offered by palettes as compared to pens and availability of the multiple shades in a single palette.

By Sales Channel:

Among the sales channel segments, the online segment is projected to register a significant growth rate, owing to easy availability of multiple brand products on a single website or app in order to check reviews, compare product cost and worthiness, easy payments, returns, and refunds, etc.

Global Lip Powder Market: Region Analysis

The North American market is currently dominating in the global lip powder market and is estimated to maintain its dominance over the 10-year forecast period. This can be attributable to the strong consumer base of working women. In addition, the presence of large number of cosmetic manufacturing companies in countries in this region, and high demand for innovative products from the fashion and entertainment industry are other major factors expected to propel the growth of the market in North America. the Europe lip powder market is expected to account for a considerable revenue share in the target market, owing to higher demand for enhanced beauty products from the female population in the region. The Asia Pacific lip powder market is expected to grow at a significant growth rate in the upcoming 10 years, attributed to the increasing utilization of personal grooming products among women, coupled with the rising number of working women with financial independence. In addition, the rapid expansion of well-known cosmetic retail companies is another factor expected to support the revenue growth of the target market in the region.

Global Lip Powder Market Segmentation:

Segmentation by Product Type:

• Pen
• Palette

Segmentation by Sales Channel:

• Offline
• Online

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa