DUBAI, United Arab Emirates, Jan. 17, 2022 (GLOBE NEWSWIRE) -- As per newly released data by Future Market Insights (FMI), the lip powder market is estimated at US$ 439.7 Mn in 2022 and is projected to reach US$ 592.1 Mn by 2027, at a CAGR of 6.1% from 2022 to 2027. The share of the lip powder market in its parent market (cosmetics market) is close to ~0.5%-2%.
Roughly equating US$ 350 Mn in 2022, the global Lip Powder Market revenue is poised to see an impressive growth outlook over next eight years. According to a market report published by Future Market Insights, titled ‘Lip Powder Market: Global Industry Analysis and Opportunity Assessment 2022-2027,’ lip powder products sales will account for a healthy CAGR of just-under 6% during the forecast period (2022-2027). APEJ (Asia Pacific excluding Japan) will continue to hold the highest revenue share in the lip powder market, says the report.
Potential Superiority over Lipsticks & Other Conventional Lip Products Accounts for Billowing Sales of Lip Powder
The lip powder market is yet to reach its peak of growth and currently reflects a high growth potential in the beauty and personal care products industry, as indicated in FMI’s study. Lip powder is considered the latest trend or evolution in lipsticks that offers several advantages over conventional lipsticks, which is among the key factors driving popularity of lip powder.
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| Attribute | Details |
| Estimated Lip Powder Market Size 2022 | US$ 439.7 Mn |
| Projected Lip Powder (2027) Market Size | US$ 592.1 Mn |
| Value CAGR (2022-2027) | ~6.1% |
| Lip Powder Market Top Players Share in 2021. | ~4%-7% |
Globally, the lip powder market is gaining traction due to the advantages of lip powder over conventional lipsticks. Lip powders are infused with hydrating oils and Vitamin E, which provide a smooth and long-lasting finish. One of the unique features of lip powder is the combination of matte and shimmer, which is hard to achieve with conventional lip products.
Unlike conventionally used lipsticks, lip powder gets absorbed into the lips and provide them with a smooth texture with long-lasting color and vibrant look. Introduction of innovative beauty products continues to encourage a large number of people to experiment with choices of products as well as brands, and lip powder marks one of the recent hottest trends in the beauty and cosmetic industry.
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Product Innovations - Key to Success in Lip Powder Market
Currently, lip powders are available in the market in two forms – viz. palettes and pen. Both these forms are different by nature and by methods of application. Lip powder palettes that currently account for more than 55% of total sales will remain the strongest selling product category, according to FMI. The report attributes dominance of lip powder palettes over lip powder pens to higher convenience associated with the former.
Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2027 |
| Historical Data Available for | 2013-2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania & MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, U.K., France, Spain, Italy, Russia, South Africa, Northern Africa GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand |
| Key Segments Covered | Form, End User, Sales Channel and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Rapid product innovations and the ever-evolving retail landscape are likely to be the key factors associated with strengthening of distribution channels, for leading players active in lip powder market.
However, lip powders have certain limitations, which are likely to restrain the growth of the market. These limitations include the perception or fear of exposing any flaws in the lip texture. Several consumers also doubt applicability of lip powder on a daily basis and find it gaudy over routine lipsticks. In addition, lip powder is yet to completely enter the comfort zone of a majority of women’s cosmetic regime, which will remain a challenge to rapid growth of the lip powder market.
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Key Players in the Lip Powder Market Profiled in Report
Deep-dive analysis of strategic profiles of key companies operating in the lip powder market are covered in the global lip powder market report, in a bid to help participants understand and evaluate their key products offerings, strategies, and recent developments.
Some of the key participants profiled in the global lip powder market report include Maybelline LLC, Urban Decay Cosmetics, BUXOM Cosmetics, Clinique Laboratories LLC, CLE COSMETICS, Lique Cosmetics Company, Revlon, Inc., Cult Beauty Company, CHANEL Company, Essence Cosmetics Company, Sephora USA, Inc., Huda Beauty Company, L'Oréal S.A., NYX PROFESSIONAL MAKEUP, and Christian Dior SE.
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Explore FMI’s Extensive ongoing Coverage on Retail and Consumer Domain
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Powdered Hand Soap Market - Powdered Hand Soap is largely used in factories or where there is heavy use of machinery. It is because powdered soap has scrubbing agents that help to remove heavy stains of lubricants and other chemicals from hand.
Snail Beauty Products Market - With more than 8% of geriatric population which is expected to increase during the coming years, demand for multiple cosmetics products is expected to increase.
Makeup Remover Pen Market - Makeup remover pen quickly removes or corrects small makeup smudges, smears and mistakes without having to take off the rest of the whole makeup. There is an increase in the usage of makeup remover pen by the consumers due to its user friendly packaging.
Silicone Makeup Sponge Market - Beauty and Personal Care market is one of the fastest growing market owing to innovation in products as well as consumers are very conscious about their appearance these days.
Eyeliner Pen Market - Eyeliner pens have gained traction in the cosmetic industry owing to their simpler applicability with a wick-type nib pen which helps in enhancing women’s appearance.
Hand Sanitizer Spray Pen Market - Hand sanitizer spray pen market will show a healthy growth as across the health and hygiene industry due to is convenient packaging which makes consumes to carry it easily.
Shaving Pen Market - Shaving pen being a niche market, manufacturers for shaving pen have been taking efforts on promoting the product among its target customer through various promotional strategies.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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