Pune, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The global Organic Lip Balm Market Size is expected to register a significant revenue CAGR during the forecast period. Key factors such as increasing awareness about importance of protecting lips from sun exposure, increasing demand for organic lip balms with essential oils and hemp oil, and rising investments in developing innovative and novel lip balm formulations are expected to drive global market revenue growth between 2023 and 2028.
Lip balm is a wax-like substance applied topically to the lips to moisturize, nourish, and relieve chapped dry lips, cold sores, or angular cheilitis. Lip skin is thin and thus is vulnerable to damage. These lip balms offer a protective layer over the skin and are best suited for extreme cold conditions to shield the lips from dry air or wind but are also used by men and women as a daily skincare routine. Over the years, there has been a rapid increase in the demand for natural, organic lip balms due to rising awareness about harmful effects of chemical-based lip balms. Various types of organic lip balms in different textures, flavors, and tastes are currently available in the market for men, women, and babies.
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Factors such as increasing consumer demand for organic lip care products with natural components such as cocoa butter, fruit extracts, beeswax, or avocado oil, rising availability of lip balms on online platforms and in offline stores, and increasing disposable income are expected to drive global market revenue growth during the forecast period.
However, low awareness about importance of organic lip balms, harmful risks due to overuse of lip balm, and availability of counterfeit products are some key factors expected to hamper overall market growth during the forecast period.
List of Top Players Operating in the Organic Lip Balm Market:
- Mentholatum
- Maybelline
- Nivea
- Kiehl
- MAC
- DHC
- SHISHEIDO
- Lancome
- Neutrogena
- CHANEL
- Yeu sai
- Max Factor
- Elizabeth Arden
- Clinique
- MARY KAY
- L’Oréal
- NUXE
- Revlon
- Burt’s Bees
- Blistex
- Vaseline
- EOS
- Carmex
- Labello
- ChapStick
- Lip Smacker
- AVON
- Lypsyl
- CARSLAN
- Ainuo
Recent Developments in the Organic Lip Balm Industry:
- In July 2022, Mama Earth announced the launch of tinted lip balms for proper nourishment of lips. The products include, Ubtan tinted 100% natural lip balms with turmeric and saffron, Coco Tinted with Coco and Vitamin E, Vitamin C tinted natural lip balm with Vitamin C and honey and Cherry tinted with cheery and coconut oil.
- In August 2022, Chennai-based The Lip Balm Company launched an organic lip balm with Jasmine extract.
Liquid Gel Lip Balm Segment To Register Rapid Revenue CAGR:
The liquid gel lip balm segment is expected to register rapid revenue CAGR between 2021 and 2028 owing to increasing awareness about importance of lip care, rising demand for liquid gel lip balms for glossy effect, and high preference for liquid gel lip balms due to more durability and variability as compared to solid lip balms.
Lip Balm for Women Segment to Account for Largest Revenue Share:
The lip balm for women segment is expected to account for largest revenue share over the forecast period. Factors such as high focus on personal appearance and skin health, increasing problems such as premature aging, and dry skin, growing awareness about importance of lip balm, rising number of working women, and availability of wide range of lip balms in different textures, taste and aromas are expected to drive segment revenue growth during the forecast period.
Asia Pacific To Register Rapid Revenue Growth:
Asia Pacific is expected to register rapid revenue growth during the forecast period owing to increasing concerns about prolonged sun exposure, premature aging, lip darkening and dryness, rising demand for lip balms made from natural ingredients, and high focus on personal grooming among women and men. In addition, increasing investments in developing different formulations of lip balms and availability of various types of lip balms on online sites and retail stores are expected to drive Asia Pacific market revenue growth going ahead.
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The global organic lip balm market has been segmented based on type, application, and region:
Organic Lip Balm Market Segment by Type:
- Solid Cream Lip Balm
- Liquid Gel Lip Balm
Organic Lip Balm Market Segment by Application:
- Lip Balm for Women
- Lip Balm for Men
- Lip Balm for Baby
- Other Dedicated Lip Balm
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Organic Lip Balm Market Segment by Region:
- North America (USA, Canada)
- Europe (Germany, France, UK, Italy, Russia)
- Asia Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
- Latin America (Mexico, Brazil, Argentina)
- Middle East & Africa (Turkey, Saudi Arabia, U.A.E)
Key Reasons to Purchase:
- Estimates 2023 to 2028 organic lip balm market current market trends and development trends
- Market dynamics along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the organic lip balm market
- Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
- Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
- Brief about impact of COVID-19 on the global organic lip balm market
Key Questions Addressed:
- What revenue CAGR is the global market expected to register during the forecast period?
- Which key players are leading in the global organic lip balm market?
- What is the expected market size of the global organic lip balm market between 2023 and 2028?
- What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
- What are some of the key challenges that the global market is expected to face during the forecast period?
- Which region is expected to account for largest revenue share over the forecast period?
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