Lipstick Market Report 2024 (Global Edition)

Global Lipstick Market Report 2024 Market Size Split by Product Type (Stick , Liquid , Crayon , Pencil , Cream , Others (Baim, Gel, Mousse, etc.)), by Finish Outlook (Matte , Créme , Glossy ,...

Lipstick Market Report Description

We have various report editions of Lipstick Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Lipstick Market

The lipstick market features intense competition among key players driven by innovation in product formulation, packaging, and marketing strategies. Emerging brands challenge established players with trend-setting offerings. Market dynamics include shifting consumer preferences towards organic and cruelty-free products, driving companies to adapt with sustainable practices and diverse shade ranges to stay competitive.

Lipstick Industry News 

In February 2024, L'Oréal announced a collaboration with the MIT Media Lab to develop an AI tool that analyses facial traits and recommends personalized lipstick shades. This idea intends to personalize the purchasing experience and meet the growing demand for personalized cosmetic items.

(Source: https://www.loreal.com/en/news/research-innovation/unveil-perso-the-worlds-first-aipowered-device-for-skincare-and-cosmetics/)

Top Companies Market Share in Lipstick Industry: (In no particular order of Rank)

• L'Oréal SA
• Procter & Gamble (P&G) Company
• Avon Products Inc.
• Shiseido Company Limited
• LVMH Moët Hennessy – Louis Vuitton SE
• Estee Lauder Companies Inc.
• Oriflame Holding AG Revlon Inc.
• Markwins Beauty Brands Inc.
• Stargazer Products Coty Inc.
• The Clorox Company
• DHC Corporation
• Johnson& Johnson
• Chanel S.A.
• Inglot Cosmetics
• Unilever Group
• Rohto Pharmaceutical Co. Ltd 
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Lipstick

Which Region will dominate the Lipstick market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue due to the evolving fashion trends, growing consumer disposable income, and increasing beauty consciousness. Moreover, the demand for organic and natural lipstick formulations is rising steadily across the region, influenced by growing awareness regarding sustainable and eco-friendly products. Additionally, the proliferation of e-commerce platforms has further boosted market accessibility, enabling consumers to explore a diverse range of lipstick products from both domestic and international brands.

Which is Expanding at the Fastest CAGR?

Europe is the fastest-growing market due to several factors. Western Europe, encompassing countries like France, Germany, and the UK, maintains its position as a major market due to high consumer purchasing power and fashion consciousness. Here, premium and luxury lipstick brands thrive, catering to sophisticated tastes. Eastern Europe, including Poland, Russia, and Ukraine, shows a burgeoning demand for cosmetics, driven by rising disposable incomes and increasing beauty awareness. Additionally, the market is influenced by cultural preferences and trends, with vibrant shades popular in some regions while others prefer more subtle tones. Despite variations, Europe as a whole represents a dynamic landscape for lipstick manufacturers, offering opportunities for market expansion and product innovation.

The current report Scope analyzes Lipstick Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Lipstick Market

According to Cognitive Market Research, the global Lipstick market size was estimated at USD 9514.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 3805.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031 due to the evolving beauty standards, increased disposable income, and growing fashion consciousness among consumers. Additionally, innovative product formulations, vibrant color ranges, and effective marketing strategies contribute to market expansion. Social media influence and celebrity endorsements further bolster demand. With a focus on self-expression and personal grooming, the lipstick market in North America continues to flourish, attracting both established brands and new entrants seeking to capitalize on these trends.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Lipstick market, with a market size of USD 3002.68 million in 2024. The market is projected to grow at a CAGR of 3.0% during the forecast period. The rise of social media influencers and celebrity endorsements amplify the demand. 
• The Canadian lipstick market had a market share of USD 456.68 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period: Canada's influencer marketing and celebrity endorsements fuel growth.
• The Mexico Lipstick market is projected to grow at a CAGR of 3.7% during the forecast period, with a market size of USD 346.32 million in 2024.

Europe Lipstick Market

According to Cognitive Market Research, the global Lipstick market size was estimated at USD 9514.2 Million, out of which Europe held the major market of more than 30% of the global revenue with a market size of USD 2854.26 million in 2024. It will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031 due to changing fashion trends, increased consumer spending on cosmetics, and growing awareness of personal grooming. Innovations in product formulations, packaging, and marketing strategies also play a pivotal role in driving demand. Additionally, celebrity endorsements and social media influence significantly impact consumer preferences. With a diverse range of colors and formulations catering to various demographics, the European lipstick market remains vibrant and competitive, reflecting dynamic consumer lifestyles and evolving beauty standards.

• The United Kingdom's Lipstick market had a market share of USD 479.52 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. It is due to the rising awareness of cruelty-free and environmentally sustainable products that purchasing behavior is reshaped.
• The French Lipstick market is projected to grow at a CAGR of 2.7% during the forecast period, with a market size of USD 262.59 million in 2024.
• According to Cognitive Market Research, the German Lipstick market size was valued at USD 565.14 million in 2024 and is projected to grow at a CAGR of 3.7% during the forecast period. In Germany, Lipstick sales surged due to innovations in product formulations, packaging, and marketing strategies. 
• The Italy Lipstick market is projected to grow at a CAGR of 2.9% during the forecast period, with a market size of USD 245.47 million in 2024.
• The Russian Lipstick market is projected to grow at a CAGR of 2.5% during the forecast period, with a market size of USD 442.41 million in 2024.
• The Spanish Lipstick market is projected to grow at a CAGR of 2.6% during the forecast period, with a market size of USD 234.05 million in 2024.
• The Luxembourg Lipstick market is projected to grow at a CAGR of 3.6% during the forecast period, with a market size of USD 88.48 million in 2024.
• The Portugal Lipstick market is projected to grow at a CAGR of 3.3% during the forecast period, with a market size of USD 59.94 million in 2024.
• The Greece Lipstick market is projected to grow at a CAGR of 3.8% during the forecast period, with a market size of USD 34.25 million in 2024.
• The Rest of Europe's Lipstick market is projected to grow at a CAGR of 2.2% during the forecast period, reaching USD 442.41 million in 2024.

Asia Pacific Lipstick Market

According to Cognitive Market Research, the global Lipstick market size was estimated at USD 9514.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 2188.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031 due to increasing disposable income, urbanization, and changing lifestyles. Additionally, a growing emphasis on personal grooming and beauty standards, particularly among younger demographics, is boosting sales. Innovations in formulations, shades, and packaging cater to diverse consumer preferences. Moreover, expanding distribution channels, including e-commerce platforms, widens market reach. Overall, these drivers contribute to the dynamic growth trajectory of the lipstick market in the Asia-Pacific region.

• According to Cognitive Market Research, the Chinese Lipstick market size was valued at USD 984.72 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. It is due to rising disposable incomes, urbanization, and changing lifestyles.
• The Japan Lipstick market is projected to grow at a CAGR of 5.5% during the forecast period, with a market size of USD 301.98 million in 2024. It is due to the cultural emphasis on grooming and beauty and innovative product formulations.
• The India Lipstick market had a market share of USD 262.59 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. 
• The South Korean Lipstick market is projected to grow at a CAGR of 6.1% during the forecast period, with a market size of USD 218.83 million in 2024.
• The Australian Lipstick market is projected to grow at a CAGR of 6.7% during the forecast period, with a market size of USD 113.79 million in 2024.
• The Southeast Asia Lipstick market is projected to grow at a CAGR of 8.0% during the forecast period, with a market size of USD 150.99 million in 2024.
• The Rest of the Asia Pacific Lipstick market is projected to grow at a CAGR of 6.8% during the forecast period, with a market size of USD 155.37 million in 2024.

South America South America Lipstick Market

According to Cognitive Market Research, the global Lipstick market size was estimated at USD 9514.2 Million, out of which the Latin America market has more than 5% of the global revenue with market size of USD 475.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031 due to shifting consumer preferences towards beauty and personal care products, rising disposable incomes, and the influence of social media and celebrity endorsements. Additionally, increasing urbanization and changing lifestyles contribute to the demand for cosmetics in the region. Moreover, the introduction of innovative formulations, colors, and packaging by manufacturers further stimulates market growth, catering to diverse consumer needs and preferences in Latin American countries.

• According to Cognitive Market Research, Brazil's Lipstick market size was valued at USD 203.60 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Lipstick sales flourish in Brazil due to innovative product formulations and expanding distribution channels.
• The Argentina Lipstick market had a market share of USD 79.92 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. The cultural emphasis on personal grooming and beauty standards augments the demand.
• The Colombia Lipstick market is projected to grow at a CAGR of 4.2% during the forecast period, with a market size of USD 42.34 million in 2024.
• The Peru Lipstick market is projected to grow at a CAGR of 4.6% during the forecast period, with a market size of USD 39.01 million in 2024.
• The Chile Lipstick market is projected to grow at a CAGR of 4.7% during the forecast period, with a market size of USD 34.25 million in 2024.
• The Rest of the Latin American lipstick market is projected to grow at a CAGR of 3.5% during the forecast period, reaching a market size of USD 76.59 million in 2024.

Middle East and Africa Lipstick Market

According to Cognitive Market Research, the global Lipstick market size was estimated at USD 9514.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 190.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.70% from 2024 to 2031 due to cultural preferences for cosmetics, including lip products. Economic growth and increasing disposable income levels empower consumers to spend more on beauty products. Additionally, growing urbanization and the influence of social media fuel aspirations for cosmetic enhancement. Furthermore, expanding distribution channels and innovative product formulations cater to diverse consumer needs, further propelling market growth in the region.

• According to Cognitive Market Research, the GCC Countries' Lipstick market size was valued at USD 81.44 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Lipstick sales flourish in the GCC countries due to innovative product offerings, enhanced distribution channels, and key players' aggressive marketing strategies.
• The Egypt Lipstick market is projected to grow at a CAGR of 5.0% during the forecast period, with a market size of USD 19.98 million in 2024.
• The South African Lipstick market is projected to grow at a CAGR of 5.7% during the forecast period, reaching USD 30.06 million in 2024. Lipstick sales flourish in South Africa due to increasing disposable income, urbanization, and growing beauty consciousness.
• The Turkish Lipstick market is projected to grow at a CAGR of 4.2% during the forecast period, with a market size of USD 16.36 million in 2024.
• The Nigeria Lipstick market is projected to grow at a CAGR of 3.8% during the forecast period, with a market size of USD 19.98 million in 2024.
• The Rest of the MEA Lipstick market is projected to grow at a CAGR of 3.7% during the forecast period, reaching a market size of USD 22.45 million in 2024.

Lipstick Market Analysis

Lipstick Product Type Segment Analysis

According to Cognitive Market Research, the stick segment holds a prominent market share. Its solid, waxy consistency characterizes it and offers ease of application and precise control, appealing to consumers seeking traditional lipstick formats. 

Liquid is the fastest-growing category over the forecast period. It is formulated with oils and polymers and provides a long-lasting, matte finish and vibrant color payoff, catering to those who prefer a modern, trend-driven approach to lip makeup.

• Stick 
• Liquid 
• Crayon 
• Pencil 
• Cream 
• Others (Baim
• Gel
• Mousse
• etc.)

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Lipstick Industry. Request a Free Sample PDF!

Lipstick  Finish Segment Analysis

According to Cognitive Market Research, the matte segment holds a prominent market share. It offers a non-shiny, velvety texture, providing a sophisticated and long-lasting look. They are favored for their intense pigmentation and ability to create a bold statement.

Crème is the fastest-growing category over the forecast period. It offers a creamy texture with a subtle shine, providing hydration and comfort to the lips. Crème is popular for its smooth application and versatility, and it is suitable for both casual and formal occasions. 

• Matte 
• Créme 
• Glossy 
• Satin 
• Others (Tinted Metallic
• Velvet
• etc.)

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Lipstick Weight Outlook Segment Analysis

According to cognitive market research, the segment with less than 1 GM holds a prominent market share. Lipsticks weighing less than 1 gram are often considered travel-size or sample options, catering to customers looking for convenience or affordability. They are suitable for occasional or on-the-go use.

The category of lipsticks weighing 1 to 2 grams is the fastest-growing over the forecast period. Lipsticks weighing 1 to 2 grams are generally standard-sized products, offering more extended usage and often featuring a wider range of colors and formulations.

• Less than 1gm 
• 1 to 2gm 
• 2 to 3gm 
• More than 3gm 

Lipstick Price Outlook Segment Analysis

According to Cognitive Market Research, low holds a prominent market share. They typically cater to budget-conscious consumers, offering affordable options without compromising too much on quality. These products are often marketed towards younger demographics, students, or those seeking basic lip color options.

Medium is the fastest-growing category over the forecast period. They occupy a middle ground, appealing to consumers looking for better quality and a wider range of shades while still being reasonably priced. These lipsticks often target working professionals and individuals who prioritize both quality and value.

• Low 
• Medium 
• High

Lipstick Ingredients Segment Analysis

According to Cognitive Market Research, organic products hold a prominent market share. They contain natural ingredients sourced from organic farming practices, such as plant-based oils, waxes, and pigments, and are devoid of synthetic chemicals like parabens and phthalates. They appeal to environmentally conscious consumers seeking safer, eco-friendly options.

Conventional is the fastest-growing category over the forecast period. It often incorporates synthetic ingredients, preservatives, and artificial colorants, offering a wider range of colors and longer-lasting wear.

• Organic 
• Conventional 
• Vegan

Lipstick End-user Segment Analysis

According to Cognitive Market Research, organic products hold a prominent market share. These typically comprise lip products designed for younger consumers, often featuring vibrant colors, fun packaging, and gentle formulations suitable for delicate skin. These lipsticks may prioritize factors like safety, ease of application, and playful designs to appeal to children and their parents.

Adults are the fastest-growing category over the forecast period. It encompasses a wide range of lip products tailored to the needs and preferences of grown-up consumers. These offerings may include a variety of finishes, shades, and formulations catering to diverse tastes and lifestyles, with emphasis placed on factors like longevity, pigmentation, and skincare benefits.

• Kids
• Adults

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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