According to a recent report by Reports and Data, the global Lip Care Market size was valued at USD 2,960.0 Million in 2021 and is projected to grow at a CAGR of 4.9% during the forecast period. The market is expected to be driven by an increase in awareness of healthcare and grooming among both men and women, as well as rising demand for lip care products due to issues such as chapping, darkening, dividing, and wrinkles caused by various factors such as dehydration, vitamin and nutritional deficiencies, sun damage, allergies, and other factors.

Although lip care products have historically been primarily used by women, there has been a significant increase in male interest due to a growing trend in male grooming. Furthermore, long-term exposure to sunlight can cause actinic cheilitis, wrinkles, and premature aging of the lips, resulting in a rising demand for lip care products that provide sun protection. Manufacturers of lip care products have increased their focus on innovation, developing quicker and longer-lasting formulas, and creating appealing product lines for teenagers, resulting in a larger consumer base.

The demand for lip care products is also being driven by factors such as smoking, which can lead to discoloration, chapping, and wrinkles. Lip care product manufacturers are investing in research and development to create innovative products that meet changing customer needs, which is anticipated to contribute to the market’s revenue growth.

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Driven Factors of Lip Care Market:

1. Rising awareness of healthcare and grooming among both male and female customers
2. Increasing demand for lip care products that provide sun protection
3. Growing awareness of the advantages of using skin and lip protection products
4. Smoking cigarettes causing specific issues like discoloration, chapping, and wrinkles, leading to an increase in demand for lip care products
5. Product innovations, the development of long-term and quicker formulae, and appealing product lines for teenagers, creating a larger consumer base
6. The thin skin of the lips makes them more prone to dryness, leading to a high demand for lip balm, a smooth, wax-like substance, to moisturize and soothe the pain of dry or chapped lips
7. Non-medicated lip care products are frequently included with emollients, moisturizers, and other ingredients that help to enhance the lips’ appearance and health, leading to an increasing demand for non-medicated lip care products

Some Key Highlights:

1. The lip balm segment is expected to hold the largest revenue share over the forecast period as it is used to moisturize and soothe dry or chapped lips and protect them from harsh weather conditions.
2. The non-medicated segment is expected to grow rapidly due to the inclusion of emollients, moisturizers, and other ingredients that enhance the appearance and health of lips.
3. Hypermarkets/supermarkets accounted for the largest revenue share in 2021, offering affordable pricing and increased visibility of both local and international brands.
4. The Asia Pacific region is expected to register the largest revenue share due to rising demand for lip care products, growing awareness of personal care and grooming products, and influence of social media platforms, with India, China, South Korea, and Japan being major markets.
5. Companies profiled in the market report include Avon Products, Inc., Beiersdorf AG, Shiseido Company, Limited, Revlon Consumer Products Corporation, Unilever plc, Kao Corporation, Bayer AG, The Clorox Company, eos Products, LLC, and Carma Labs Inc.
6. The global lip care market is segmented based on type, product, distribution channel, price range, packaging form, and region.

To know more about the report @ https://www.reportsanddata.com/report-detail/lip-care-market

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