Lip Powder Market Expected to Reach $2988.8 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Lip Powder Market," The lip powder market was valued at $1689.8 million in 2022, and is estimated to reach $2988.8 million by 2032, growing at a CAGR of 6.2% from 2023 to 2032.

Lip powder refers to a cosmetic product designed for lip enhancement and color application, presented in a finely milled powdered form. The lip powder offers a unique approach to lip makeup, allowing users to achieve customizable pigmentation and a range of finishes. This powder is typically applied to the lips using brushes or applicators, allowing precise control over color intensity and the ability to create various lip effects. Lip powder often comes in single shade or multi-color palettes, allowing users to blend and mix colors for personalized looks.

The increase in demand for shine-free lightweight lip color is boosting the market growth for lip powder. Furthermore, the increase in ability of consumers to experiment with new cosmetics is expected to produce significant demand for lip powder in the future. Women are the primary consumers of this industry; therefore, this population group is driving the industry globally. Women's increased workforce participation has greatly fueled demand for premium personal care products in recent years. Women who are financially independent are increasingly spending more on new beauty products. All these factors are projected to drive the lip powder market demand during the forecast period.

However, several cosmetic products available in the market contain lead, which is hazardous to health. Lead causes allergic reactions, dry lips, and discomfort. Lip products also include toxic substances and heavy metals. Therefore, the presence of such chemicals and heavy metals is expected to restrict its adoption. In addition, one of the main problems faced by the lip powder business is the difficulty in applying the product. Lip powder needs an extensive amount of expertise and practice to apply effectively, which is expected to hinder some consumers from trying the product. Lip powder may not be suitable for all skin types, as it may dry out the lips or cause irritation.

The demand for lipsticks has grown substantially among women owing to their increasing purchasing power along with the growing consciousness about physical appearance. In addition, by offering customers a beautifully designed and rewarding purchasing experience, e-commerce platforms have significantly changed the beauty sector. The attractive price reductions and simple accessibility provided by online stores have also led to an increase in product demand. The rising product demand is also being boosted by aggressive promotional campaigns launched by well-known brands and manufacturers on popular social media platforms like Facebook and Instagram. In addition, consumers are choosing lead-free and organic lipsticks more frequently due to rising health risks. Other factors such as product premiumization along with the introduction of lipsticks with customizable shades and personalized applicators are also driving the lip powder market growth.

The lip powder market share is segmented on the basis of type, end user, distribution channel, and region. By type, it is classified into lip powder palettes and lip powder pen. By end user, it is classified into under 18 years old, 18-30 years old, 30-45 years old, and above 45 years old. By distribution channel, it is classified into online and offline. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the lip powder market analysis report include L’Oreal, The Estee Lauder Companies Inc., Revlon, buxom cosmetics, Clinique, CHANEL, Shiseido Company, Limited, Essence Cosmetics, By Terry Paris, and Sephora.

The report offers a comprehensive analysis of the global lip powder market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights on the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Lip Powder Industry

• The COVID-19 pandemic has had a significant impact on the lip powder market size. Widespread lockdowns and reduced social interactions led to a decline in overall cosmetic sales, including lip products. However, the market saw an increase in demand for long-lasting and transfer-proof options as wearing mask was a mandate.
• The pandemic led to supply chain disruptions across all industries further affecting production and distribution. However, the market showed resilience as online sales surged, and brands adapted by promoting home-based beauty routines. As restrictions were eased, the lip powder market rebounded with renewed consumer interest in makeup and self-expression.
• During the post-pandemic period, the lip powder market experienced a shift in consumer behavior. With an increase in focus on hygiene, lip powder gained traction due to its touch-free application. Online sales surged, prompting brands to enhance their e-commerce presence.

Key Findings of the Study

• Based on type, the lip powder palettes sub-segment emerged as the global leader in 2022 and lip powder pen sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on end user, the 30-45 years old sub-segment emerged as the global leader in 2022 and the 18-30 years old sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on distribution channel, the online sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
• Based on region, Asia-Pacific registered the highest market share in 2022 and North America is predicted to show the fastest growth in the upcoming years.