Lipstick Market Expected to Reach $15.6 Billion by 2033

According to a new report published by Allied Market Research, titled, lipstick market size  was valued at $9.5 billion in 2023, and is projected to reach $15.6 billion by 2033, growing at a CAGR of 5.1% from 2024 to 2033.

Lipstick is a beauty product that adorns the lips by changing the natural color of the lip. The major ingredients that lipsticks are used to make lipsticks include wax, alcohol, pigments, oil, and emollients that provide texture, and protection to lips. There are different shades & colors of lipstick such as red, pink, nude, peach, brown, maroon, and others available in the market that is compatible with different skin tones and lip shapes. Thus, offering consumers a variety of color options and allowing them to experiment with new colors. In addition, there are different types of lipsticks including matte lipstick, glossy lipstick, stain lipstick, and others and have specific purposes such as moisturizing and long-wearing available in the market. Thus, this fact is driving the lipstick market demand. In addition, the expansion of distribution channels such as online stores, supermarkets, hypermarkets, and others has made these lipsticks easily accessible to consumers, which in turn contributes toward the lipstick market growth.

The matte lipstick segment is anticipated to garner highest the lipstick market share during the forecast period. This is attributed to the fact that consumers, mostly working women nowadays look for lipsticks, that can sustain and last longer throughout their busy days and prevent reapplying lipstick; thus, saving them time. Matte lipsticks tend to stay throughout the day over traditional lipsticks. This factor is expected to boost the lipstick market trends. 
An upsurge in demand for natural, herbal, and organic lipsticks is anticipated to boost the growth of lipstick market in the upcoming years. This is attributable to a rise in consumer awareness regarding the ill effects of harmful ingredients used in lipsticks, which lead to irritation, itching, and drying of lips. Thus, this fact has driven consumers toward the use of natural, herbal, and organic lipsticks. Moreover, lipstick manufacturers are now indulged in launching natural, organic, and herbal lipsticks to meet the rise in customer demands, which propels the growth of the lipstick market. For instance, Lotus Herbals manufactures beauty products including lipsticks that are made from natural ingredients and do not contain any synthetic and chemical-based ingredients in it.

The global lipstick market analysis is segmented on the basis of product type, form, distribution channel, and region. Depending on product type, the lipstick market is classified into matte, glossy, lip powder, and others. By form, the market is classified into liquid, stick, and palettes. By distribution channel, it is fragmented into supermarkets/hypermarkets, specialty stores, and online stores.  Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the Lipstick industry L'Oréal S.A, Shiseido Company Limited, Revlon Inc., Coty, Estée Lauder Companies Inc., Christian Dior SE, Unilever, Guerlain, Inglot Sp. Z. O. O., and Relouis.

Key Finding of The Lipstick Market:

• By product type, the matte lipstick segment accounted for the highest lipstick market share in 2023, growing at a CAGR of 4.1% from 2024 to 2033.
• By form, the stick form of lipstick segment accounted for the highest market share in 2023, growing at a CAGR of 4.5% from 2024 to 2033.
• Depending on the distribution channel, the supermarket/hypermarket segment occupied the maximum share of the market in 2023, and is expected to dominate the market forecast.
• By region, Europe accounted for about 36.6% in 2023 of the market and is expected to grow at a CAGR of 5.0%.