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Lip Gloss Market Research Future Insights
According to MRFR analysis, the global Lip Gloss Market is expected to register a CAGR of 4.90% from 2020 to 2027 and hold a value of over USD 4.51 billion by 2027.
Lip gloss can be raised as a form of lip makeup product. It is used to give lips a glossy fuller and lustier and sometimes subtle colour. The lip gloss comes with moisturizing properties that hydrate the lips in contradiction of the dryness and cracks. It is also accessible in numerous colours.
Major factors that are anticipated to boost the growth of the lip gloss market in the prediction period are the increase in the per capita disposable income and the increase in the demand for luxury lip makeup products because of its improved technology. Furthermore, the upsurge in the working women population is further expected to propel the growth of the lip gloss market. Moreover, the influence of social media is further projected to cushion the growth of the lip gloss market. On the other hand, the increase in awareness regarding the toxic ingredients in cosmetics is further projected to impede the growth of the lip gloss market in the forecast period.
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Regional Analysis
Europe dominates the lip gloss market owing to the change in customer preference towards organic lip colours because of the increase in the concerning issues regarding the harmful effects of chemical-based cosmetics. Furthermore, the upsurge in the need for lip colours amongst the younger generation will further increase the growth of the lip gloss market in the region during the estimated period.
Asia-Pacific is expected to observe a significant amount of growth in the lip gloss market owing to the speedy urbanization in the advancing countries. Moreover, the increase in the penetration of global brands is further estimated to propel the growth of the lip gloss market in the region in the imminent years.
Market Segmentation
The Global Lip Gloss Market has been segmented into Product, Form Factor, and Application
Based on Finish, The Global Lip Gloss Market has been segmented into glossy, matte, glitter and others.
Based on Category, The Global Lip Gloss Market has been segmented into conventional and organic and natural.
Based on the Distribution channel, The Global Lip Gloss Market has been segmented into store-based and non-store based. Store-based is further sub-segmented into supermarkets and hypermarkets, convenience stores, speciality stores and others.
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Key Players
Some of the key market players are Coty Inc., Shiseido Company, MAKE-UP ART COSMETICS (M.A.C.), ColourPop Cosmetics, L’Oréal, LVMH, Chanel, Procter & Gamble, Revlon, The Estée Lauder Companies Inc.
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