Lip Gloss Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Lip gloss market is expected to witness around 4% CAGR growth rate during the forecast period (2021-2027). Factors surging the demand for lip gloss are rising number of advertisements that promote lip gloss products coupled with celebrities’ endorsements on television and social media platforms are likely to expand the lip gloss market. In addition, the rising number of lip care product and growing disposable income of female population due to surge in the female working population fueled the preference for beauty product. Hence, these factors positively escalated the market demand for lip gloss.

The coronavirus pandemic declared as public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on travelling, shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain.

Also, covid-19 had negatively impacted the lip gloss market. The disruption in procurement of raw material halts the production of lip gloss coupled with shutdown of chemical industries has negatively impacted the market of lip gloss. Hence, lip gloss had witnessed major slumped during Covid-19. Moreover, government mandated the adoption to cover nose and mouth with face mask had further impacted the demand for lip gloss and lip care product.

Finish type of Lip gloss, 2020

Revlon, NARS Cosmetics, Chanel, KANEBO, TONYMOLY, Etude House, Bourjois, Estee Lauder, Procter & Gamble, Loreal. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Finish, glossy lip gloss segment holds the major share”

Based on finish, the lip gloss market is segmented into glossy, matte, glitter, and others. The glossy lip gloss segment captured significant share in the market owing to the various advantage of lip gloss such as glossier finish and thicker texture than lipsticks. In addition, lip glosses tend to come off faster than lipsticks.

“Amongst Distribution Channels, offline segment holds the major share”

Based on distribution channel, the lip gloss market is classified into offline and online channels. Currently, offline segment acquired extensive share in lip gloss market. It is mainly owing to the high penetration of non-branded lip gloss companies in the market coupled with easy availability of lip glosses is creating market demand for offline segment.

“Europe represents one of the largest markets of Global Lip gloss Market”

For a better understanding of the market dynamics of the global lip gloss market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe, and Rest of the World. Europe holds the significant market share owing to the high spending populace on makeup product coupled with presence of prominent players..

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global lip gloss market were the three major steps undertaken to create and analyze the adoption of lip gloss in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global lip gloss market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of Lip gloss market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the lip gloss market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as finish, category, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of lip gloss market. Further, we conducted factor analysis using dependent and independent variables such as various finish of lip gloss and distribution of lip gloss. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Lip gloss market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global lip gloss market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of lip gloss market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global lip gloss market in terms of category offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global lip gloss market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of finish, category and distribution channel in the global lip gloss market.

The main objective of the Global Lip gloss Market Study

The current & future market trends of global lip gloss market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of lip gloss market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of finish, category, and distribution channel.
• Define and analysis of the regulatory framework for the lip gloss market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the lip gloss market for the major region.
• Major regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
• Company profiles of the lip gloss market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry