According to a report by P&S Intelligence, the global lipstick market is expected to progress at a 6.6% CAGR during the forecast period (2019–2024). The market is registering growth due to the increasing demand for lipsticks from working women and surging focus towards e-commerce beauty websites. In terms of product types, the industry is divided into shimmer/pearl/frost, satin/sheer, luminous, metallic, natural, glossy, crème, and matte.
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Out of these, the satin/sheer division dominated the market in 2018 and is further predicted to account for the largest revenue share during the forecast period as well. The matte lipstick division is projected to register the fastest growth during the forecast period, which is owing to the rising preference of consumers for these lipsticks. On the basis of color, the lipstick market is categorized into nude, red, maroon, pink, and others (including multicolor, black, orange, purple, white, blue, green, grey, yellow, silver, gold, and violet).
The attention to one’s physical appearance, especially for women, has been a major aesthetic aspect of the society since perhaps the start of civilization, or at the very least, since the gender roles came into being. In the modern society, the adherence to a regulated personal care routine has become very common, for both men and women. However, for women, most of the time, the consciousness regarding physical appearance is not limited to just paying attention to personal hygiene, but the usage of different cosmetic products, such as eyeliners, lipsticks, andmake-up, is also of significant importance.
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Market Segmentation by Product Type
- Others (gel, duo chrome, triple chrome, and special effect)
Market Segmentation by Color
- Others (black, orange, violet, gold, green, silver, grey, silver, yellow, white, blue, purple, and multicolor)
Market Segmentation by Applicator
- Lipstick Tube/Stick
- Liquid Lipstick
- Lipstick Cream
- Lipstick Pencil
- Lipstick Palette
Market Segmentation by Gender
Market Segmentation by Age
- Over 50
- Under 20
Market Segmentation by Distribution Channel
- Departmental Stores
- Cosmetic Stores
- Convenience Stores
- Others (parlors and grocery stores)