Published Date: 2019-07-29 | Pages: Ongoing | Tables: Ongoing | Report ID: 7332
Industry: Chemical & Material
The cosmetics industry has recorded a significant transformation in the past few years. Increasing urban population and rising grooming standards are creating a positive impact on the sector. A presentable appearance is a part of personality development. People with charming personality always create a positive impression. The rising living standards with a growing working population leads manufacturers to launch innovative cosmetics products, Lip Care is no exception. Lip Care products are immensely popular around the world because of the properties like sun protection, moisture retention, protection against dust and nourishment. A large number of innovative lip care products have been launched worldwide with an aesthetic appeal that seeks the attention of consumers. Moreover, lip care products are widely accepted not only by women but also by men.
Recently, one of the market participants has launched a new range of natural and organic stick lip balm. This lip balm is approved by famous American model and actress Emily Ratajkowski. Reportedly, this lip balm is a trending product in the skin care segment on e-commerce sites. Newly launched Stick lip balm is free from petrolatum, gluten, and paraben, instead, it contains natural ingredients like tea tree oil, jojoba oil, Shea butter, and vitamin E.
● Lip balm segment is expected to capture a significant share in the global Lip Care market
● Asia Pacific region is likely to hold a large amount of market share in the global Lip Care market owing to growing urbanization and an increase in the disposable income
● Celebrity endorsement, promotional strategies by market players, and rising social media awareness are fuelling the growth of global Lip Care market
● Increasing awareness about personal grooming to trigger the demand for Lip Care products
Growing Branding and Promotional Activities Leads to Increase the Demand for Lip Care Products
Growing concerns about personal grooming particularly among youngsters and women are expected to boost the market growth in the projected period. Increasing advertisement and promotional strategies adopted by different brands accompanied by product endorsement by celebrities with the help of social media is one of the important factors for the expansion of Lip Care market across the globe. Additionally, increasing preference for organic beauty products is predicted to rise in demand for herbal Lip Care products during the forecasted period. Rising demand for SPF (Sun Protecting Factor) Lip Care among youngsters is also a noticeable trend across the globe.
The Asia Pacific is likely to grab a significant market share in the worldwide Lip Care market. The growing urban population in developing economies like India and China is one of the significant factors, contributing to the market growth in the Asia Pacific region. Apart from this, Europe and North America are also witnessing a lucrative market growth in the past few years and are expected to lead the market in the years to come.
● Lip Balm
● Lip Butter
● Lip Conditioner
● Lip Scrub
● Modern Trade
● Convenience Store
● Drug Store
● Online Stores
By type, the lip balm segment is likely to dominate the global Lip Care market followed by Others segment. Lip balms are less expensive as compared to other Lip Care products. Additionally, lip balms are highly popular among women and youth. Therefore lip balm segment is expected to grab the largest market share throughout the projected period. By application, Modern Trade segment to obtain a large part of market share followed by a convenience store.
The major market participant functioning in the market are Avon Products, L'Oréal S.A., Beiersdorf Aktiengesellschaft, Inc., Shiseido Co., Ltd., The Procter & Gamble Company, Kao Corporation, Johnson & Johnson Services, Inc., Subaru Corporation, Unilever PLC, Kiehl's, and The Estee Lauder Companies Inc.
Pricing analysis consists of a detailed assessment of the different pricing strategies such as price skimming, competitive pricing, psychological pricing, value pricing, and penetration pricing. Various pricing tools have used to offer precise pricing recommendations, improve accuracy, and to process a huge amount of complex data. Furthermore, the report offers a deep study of consumer behavior, price optimization, what-if scenarios, and price elasticity. Pricing analysis helps to analyze consumer response towards the changing dynamics of the market using hypothesis.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
The chemicals and materials sector has been witnessing an exponential rise in the past few years. The industrial boom and infrastructural growth across the globe has had a positive impact on the chemical and materials industry. Chemicals are an integral part of many industries, which, over the years, have created lucrative opportunities for players. Similarly, materials are an indispensable part of myriad industries. The rise of the chemicals and materials sector has been mapped by QYR Consulting through exhaustive research reports.
Analysts have used investigative approach to deduce important elements pertinent to the industry. The reports are aimed towards giving the reader a holistic approach about the industry’s development and future scenario. Competitive landscapes have been written with in-depth analysis of the historical data and careful understanding of the management styles. QYR Consulting aims to provide the readers a guided approach towards making well-informed business decisions through its research reports.
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