Expected to grow at a CAGR of 6.4%, the global lip care packaging market is anticipated to touch a valuation of US$ 79.8 Billion by the end of the 2022-2032 forecast period. As of 2022, lip care packaging market value is expected to reach US$ 42.9 Billion.
| Data Points | Key Statistics |
|---|---|
| Anticipated Market Value in 2022 | US$ 42.9 Billion |
| Projected Market Value in 2032 | US$ 79.8 Billion |
| Global Growth Rate (2022 to 2032) | 6.4% CAGR |
A good lip care routine is an important part of any skincare regimen. With consumer purchasing habits and lip grooming knowledge having evolved, the popularity of lip care products has increased.
In recent years, there has been an increasing awareness about the hazards associated with the chemicals used when composing lip care products, which has led to the popularity of natural and organic lip care products. This increase in popularity is driving demand for lip care packaging solutions.
Cosmetics packaging manufacturers are finding ways to offer packaging solution that specifically addresses the wide product range available in the lip care market segment. Owing to the nature of lip care products, lip care packaging has to give prime importance to packaging functions such as showcasing of products, communicating information about product specifications, communicating brand value and enhancing the visual appeal of the product on retail shelves.
The growing awareness of the need to protect lips from the sun and prevent them from darkening over time has made lip care manufacturers come out with SPF products in the market. Considering that consumers continue to desire subtle cosmetic changes, manufacturers have begun to produce tinted lip cares in response to the growing trend among consumers.
In response to changes in climate and growing demand for reusing lip care, long-lasting moisturization lip care has exploded in the market. This market has seen a substantial increase in the number of people looking for lip lighting treatments at home which has significantly increased the demand for lip care in the market.
As the market for lip care products becomes more crowded and customers become more allergic to fragrances, serums and paraben-free lip care are expected to grow in popularity in the market.
Due to the surge in popularity and increased attention to lip care and self-care, many international and regional product manufacturers offer unique flavors in lip balms, scrubs, and masks. To introduce skin-friendly and premium lip care products to the market, it is imperative that manufacturers focus on the research and development of these products before they are released in the market.
A significant increase in demand also has been shown in the male segment in regard to lip care products over the past few years, in spite of the fact that the female segment has seen an increase in demand over the past few years. A recent trend in the environment has also resulted in a rise in demand for eco-friendly packaging for lip care in the market.
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The growing importance of presentable appearance and grooming among urban class, for having a positive impression in the professional world, has created considerable opportunities for cosmetics market. This trend of personal grooming among working men and women with high standard of living is contributing to the packaging requirements of cosmetic products such as lip care packaging.
Lip care packaging market has launched various innovative lip care packaging products which appeal to the aesthetic sense of customers, ultimately leading to increase in sales. The incorporation of customization options and bio-material packaging has created a new segment in the lip care packaging market by attracting new customers and brand owners.
Cosmetics packaging manufacturers are finding ways to offer packaging solution that specifically addresses the wide product range available in the lip care market segment. Owing to the nature of lip care products, lip care packaging has to give prime importance to packaging functions such as showcasing of products, communicating information about product specifications, communicating brand value and enhancing the visual appeal of the product on retail shelves.
One of the major factor promoting the growth of lip care packaging market is the increase in per capita disposable income among people in emerging economies.
The trend of personal grooming is not only popular among young population but also catching up with people from all generations. Either be it an elderly or an adult, self-grooming is prevalent among all. Another factor promoting the lip care packaging market is the increased variety of organic and natural lip care products in the market especially appealing to health conscious people.
However, low physical stability of plastic tubes restrains the lip care packaging market as low density plastics such as LLDPE, have the tendency to crack or tear due to recurrent usage. Moreover, the chemicals used in production of lip care products acts as a barrier for the lip care packaging market.
The global lip care packaging market is witnessing developments in terms of design and functionality of packaging. Lip care packaging tubes with friendly end compartment are new phenomena introduced by few packaging manufacturers. The lip care packaging tubes have a compartment in the tubes called the friendly end which contains lesser amount of the lip care paste.
The innovative design has enabled lip care consumers to share lip balms among friends by reducing the chances of transferring germs to one another.
Principal Consultant
The lip care packaging market can be segmented on the basis of packaging type, material type and applicator type. On the basis of packaging type, the lip care packaging market can be segmented into lip care tubes, lip care tins, lip care bottles and lip care jars. On the basis of material type, the lip care packaging market can be segmented into paperboard, plastic, glass and metal.
Plastic is majorly used due to its inexpensive nature and easy availability. On the basis of applicator type, the lip care packaging market can be segmented into roll-ons and brushes.
Geographically, the lip care packaging market is segmented into five key regions: North America, Asia Pacific, Europe, Latin America and Middle East and Africa (MEA). Europe is the leading market segment in the global lip care packaging market.
However, due to increased demand in China and India, the Asia Pacific region is expected to witness a healthy growth rate over the forecast period of 2017-2025. North America is expected to grow at a steady rate, whereas MEA is expected to have a significant growth over the forecasted period due to governmental regulations and economic labor rates.
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Some of the key players operating in the lip care packaging market are Arminak & Associates LLC, Park Tech A/S, The Packaging Company, HCP Packaging Co. Ltd., Eastar Cosmetic Packaging, and IMS Ningbo Limited.
The report offers an accurate evaluation of the market through detailed qualitative insights and verifiable projections about market size. The projections presented in the report have been derived using proven research methodologies and assumptions.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Lip Care Packaging Market
