The net valuation of the market is pegged at US$ 467.4 million in 2023 according to the latest lip powder market report. Over the forecasted period from 2023 to 2033, the global sales of lip powder are expected to develop at a CAGR of 5.8%. Furthermore, by 2033 end, the overall valuation of the market is forecasted to reach US$ 821.4 million.
Rising lip powder sales in recent years indicate a profound change in cosmetic tastes, with customers favoring adaptable, long-lasting, and cost-effective cosmetics. The support of influencers and celebrities over lip powder brands, and a growing need for diversity and ethical sourcing, are also fueling this movement.
Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9255
Improving beauty and its positive impact on enhancing one’s sense of self are igniting consumer interest in lip powder and other cosmetic products. Besides that, cutting-edge developments in lip powders with luxurious packaging are also most likely to propel the market during the forecast years. Also, an increase in the percentage of working women brought on by rapid urbanization could have an influence on higher sales of lip powder.
“Leading market players are also spending highly over sponsorship of social media videos by influencers to enhance their market position. Moreover, endorsing celebrities and its frequent appearance on the lips of fashion enthusiasts has surely helped brisk sales of lip powder,” says an FMI analyst.
Competitive Landscape for the Lip Powder Market
Low competition in the lip powder market enables smart ventures into undeveloped territory that hold huge potential for sales of organic cosmetics. Nevertheless, in the ever-changing and highly competitive beauty market, innovative marketing approach has considerably fragmented the overall market.
Lip powder companies have an immense chance to pioneer new formulas and concepts to appeal the customers’ changing tastes. For the great attractiveness of lip powders for beginners, additional textures, coatings, or skincare advantages might be introduced. Besides, social media advertising is among the most successful strategies utilized by many lip powder businesses these days.
Gain Immediate Access to Detailed Market Insights: https://www.futuremarketinsights.com/checkout/9255
Key Players:
- L’Oréal S.A.
- Maybelline LLC
- MAC Cosmetics
- By Terry
- NARS Cosmetics
- Stellar Beauty
- Urban Decay Cosmetics
- NYX PROFESSIONAL MAKEUP
- BUXOM Cosmetics
- Clinique Laboratories, LLC
- CLE COSMETICS
- Lique Cosmetics
- Revlon, Inc.
- Christian Dior SE
- Cult Beauty Ltd.
- CHANEL Company
- Essence Cosmetics
- Sephora USA, Inc.
- Huda Beauty
- Younique, LLC
Recent Developments in the Lip Powder Industry
- Revlon Company introduced its brand-new product line of lip powder under the name of High Fever in November 2022. This limited edition of 5 5-tone color charge lip powder palette, has countless options for personalizing and enhancing users’ lip appearance.
- In October 2022, CHENEL Company released its ‘Rogue Allure’ liquid powder matte lipstick. This new product has been specially designed to change user’s go-to beauty look particularly after the summer season.
