The Latest Lip Balm Industry Statistics Explained
The size of the global lip care products market was valued at USD 1.95 billion in 2020.
The statistic indicates that the total value of the global lip care products market was estimated to be USD 1.95 billion in the year 2020. This figure represents the total revenue generated by the sales of lip care products worldwide during that year. The market size serves as a key indicator of the demand and growth potential within the lip care industry, reflecting consumer preferences, trends, and economic factors that influence the buying and selling of such products on a global scale. The value of USD 1.95 billion illustrates the significant market presence and commercial importance of lip care products as a consumer goods category in the beauty and personal care industry.
The lip balm market is expected to grow at a CAGR of 6.6% during 2021-2026.
This statistic indicates that the lip balm market is projected to experience a Compound Annual Growth Rate (CAGR) of 6.6% over the period from 2021 to 2026. CAGR represents the rate at which the market is expected to expand every year during this timeframe. A CAGR of 6.6% suggests that the lip balm market is anticipated to steadily increase in size over the next five years, reflecting potential opportunities for growth and investment in this sector. Such a growth rate may be influenced by factors such as consumer demand, trends in skincare and beauty products, marketing strategies, and advancements in product formulations or packaging techniques within the lip balm industry.
The non-medicated lip balm category accounted for the largest market share in 2019.
The statistic that the non-medicated lip balm category accounted for the largest market share in 2019 suggests that among all types of lip balms available in the market, those without any medicinal ingredients or specific therapeutic properties were the most popular choice among consumers during that year. This indicates a strong preference for general moisturizing and protective lip care products over specialized or medicated options. The dominance of the non-medicated lip balm category in terms of market share may signify the importance of daily lip care for many individuals, as well as a preference for simplicity and convenience in their lip care routines.
Europe occupied 39.56% of the production market in 2019.
The statistic “Europe occupied 39.56% of the production market in 2019” indicates the proportion of production market share held by European countries in the year 2019. This means that out of the total production across all regions globally, European countries collectively accounted for 39.56%. This statistic is crucial for understanding the relative strength and importance of Europe in terms of production output compared to other regions. It suggests that Europe plays a significant role in the global production market and highlights its position as a substantial contributor to the overall production industry landscape in 2019.
In 2020, Burt’s Bees is the leading lip balm brand in the United States, generating around 53.89 million dollars.
The statistic indicates that in 2020, Burt’s Bees emerged as the top-selling lip balm brand in the United States, generating approximately $53.89 million in revenue. This implies that Burt’s Bees captured the largest market share in the lip balm industry within the country during that year, showcasing their popularity and success among consumers. The figure of $53.89 million highlights the significant financial impact of Burt’s Bees in the market, solidifying its position as a key player in the lip care product segment. This statistic not only reflects Burt’s Bees’ strong brand reputation and customer loyalty but also underscores their effective marketing strategies and product quality that resonated with consumers in 2020.
Approximately 30 million people in the US used Burt’s Bees Lip Balm in 2020.
The statistic ‘Approximately 30 million people in the US used Burt’s Bees Lip Balm in 2020’ indicates that a substantial portion of the American population utilized this specific product for lip care during that year. This suggests that Burt’s Bees Lip Balm is a popular choice among consumers in the US, potentially due to factors such as brand recognition, perceived quality, or marketing efforts. Understanding the extent of its market reach can provide insights into consumer preferences and behavior related to personal care products, as well as inform business strategies for companies operating in this industry.
L’Oréal’s lip-care product retail sales were approximately 20.68 million dollars in 2018.
The statistic indicates that L’Oréal’s lip-care products generated total retail sales of approximately 20.68 million dollars in the year 2018. This figure serves as a quantitative measure of the market demand and consumer interest in L’Oréal’s lip-care products for that specific year. By tracking retail sales, L’Oréal can assess the performance of their lip-care product line, make strategic business decisions, and monitor trends in the beauty industry. Additionally, this statistic can be compared to sales data from previous years to analyze growth patterns and identify areas for potential improvement or expansion within the lip-care product category.
The lipstick & lip gloss segment had a market share of nearly 60.0% in 2019.
The statistic indicating that the lipstick & lip gloss segment had a market share of nearly 60.0% in 2019 suggests that this specific product category accounted for a significant portion of the overall cosmetics market during that year. This high market share indicates a strong preference for lipsticks and lip glosses among consumers, highlighting the popularity and demand for these products. Companies operating in this segment may have a competitive edge in the market due to its substantial share, potentially leading to increased sales and profitability. Additionally, this statistic can be used by marketers and industry professionals to make informed decisions regarding product development, marketing strategies, and market positioning within the cosmetics industry.
Organic lip balm is expected to reach 185.5 million USD by the end of 2025.
The statistic that organic lip balm is expected to reach 185.5 million USD by the end of 2025 indicates the projected market value of organic lip balm products in terms of revenue. This figure suggests that there is a growing demand for organic lip balm products among consumers, likely driven by a combination of factors such as increasing awareness about the benefits of organic and natural products, a shift towards more sustainable and eco-friendly choices, and changing consumer preferences towards clean beauty products. The projected increase in market value implies opportunities for businesses operating in the organic lip balm sector to capitalize on this trend and potentially expand their market share through targeted marketing strategies and product innovation.
In 2018, the retail sales of lip cosmetics in China reached approximately 14.3 billion yuan ($2.2 billion).
The statistic indicates that in 2018, the total retail sales revenue generated from the sales of lip cosmetics in China amounted to approximately 14.3 billion yuan, which is equivalent to about $2.2 billion USD. This figure represents the significant market size and consumer demand for lip cosmetics within the Chinese retail sector during that particular year. It suggests a strong interest and preference among Chinese consumers for lip products, highlighting the importance of the cosmetic industry in the country’s retail market. This statistic is essential for businesses operating in the cosmetics sector as it provides insight into the market potential and opportunities for growth in the lip cosmetics segment in China.
The lip cosmetics market in China is projected to be 24.81 billion yuan by 2025.
The statistic indicates that the size of the lip cosmetics market in China is expected to reach approximately 24.81 billion yuan by the year 2025. This projection suggests significant growth in the demand and consumption of lip cosmetics within the Chinese market over the next few years. Factors such as changing consumer preferences, increasing disposable income, and evolving beauty trends may contribute to this anticipated expansion. The statistic serves as a valuable insight for businesses and investors seeking to capitalize on the lucrative opportunities presented by the growing lip cosmetics industry in China.
In 2017, ChapStick was the 3rd most used brand of lip care/lip balm in the U.S.
The statistic stating that in 2017, ChapStick was the 3rd most used brand of lip care/lip balm in the U.S. suggests that ChapStick held a significant market share among consumers seeking lip care products. This ranking indicates that, out of all the lip care brands available in the U.S. during that year, ChapStick was a popular choice for consumers in terms of usage and purchase. The statistic highlights ChapStick’s competitive position within the lip care market, showing that it was preferred by a sizable portion of consumers as compared to other brands.
Baby lips is the fifth most popular lip balm in United States in 2021.
The statistic indicates that Baby Lips, a brand of lip balm, holds the position of being the fifth most favored or commonly purchased lip balm product among consumers in the United States during the year 2021. This ranking suggests that Baby Lips has a significant market presence and enjoys a considerable level of recognition and trust among consumers seeking lip care products. Being ranked fifth out of all lip balm brands indicates that Baby Lips holds a notable share in the competitive lip balm market in the United States, underscoring its popularity and appeal among consumers.
The worldwide revenue of the personal care market will reach $13,080 million USD by 2025.
The statistic indicates that the total revenue generated by the global personal care market is projected to increase to $13,080 million USD by the year 2025. This forecast suggests a significant growth trajectory in consumer spending on personal care products over the coming years. Factors contributing to this rise may include increasing awareness of grooming and personal hygiene, the popularity of beauty and skincare products, as well as the growing demand for wellness and self-care among consumers worldwide. Such a growth trend in the personal care market underscores the industry’s strong potential for expansion and development in the near future.
About 27% of women in the U.S. apply lip color or lip balm multiple times a day.
This statistic indicates that approximately 27% of women in the United States frequently apply lip color or lip balm multiple times a day. This behavior suggests a pattern of women prioritizing lip care and enhancing their appearance by consistently using these products throughout the day. The frequency of application could be influenced by personal preferences, habits, or possibly environmental factors such as weather conditions. Understanding this statistic can be useful for cosmetic companies, retailers, and market researchers to tailor products and marketing strategies to meet the demands of this specific consumer segment.
Approximately 4.77 million women used Eos lip care products in the U.S. within a week in 2020.
This statistic indicates that within a week in 2020, approximately 4.77 million women in the United States used Eos lip care products. This data point provides insight into the popularity and consumer reach of Eos products among women in the U.S. It suggests a significant level of market penetration for the brand within a specific timeframe, highlighting the widespread usage and appeal of Eos lip care items among the female demographic. With a large number of women incorporating Eos products into their beauty routines within just one week, it signifies a strong foothold for the brand in the U.S. lip care market.
French company L’Occitane en Provence’s total cosmetic and well-being product sales worldwide in 2020 amounted to approximately 1.2 billion euros.
The statistic indicates that L’Occitane en Provence, a French company specializing in cosmetic and well-being products, generated a total of around 1.2 billion euros in sales globally in 2020. This figure reflects the substantial commercial success of the company within the beauty and wellness industry, showcasing its strong market presence and consumer appeal on a worldwide scale. The significant sales revenue suggests that L’Occitane en Provence’s products are in demand and well-received by customers across various regions, contributing to the company’s financial performance and overall growth in the marketplace during the specified year.
The North America lip balm market is expected to reach USD 687.2 million by 2024.
This statistic indicates that the North America lip balm market is projected to grow steadily and achieve a market value of approximately USD 687.2 million by the year 2024. This growth forecast suggests that there is a growing demand for lip balm products in the North American region, possibly driven by factors such as changing consumer preferences, increasing awareness about lip care, and expanding distribution channels. The estimated market value signifies the substantial size and economic importance of the lip balm industry in North America, highlighting potential opportunities for businesses operating in this market to capitalize on the anticipated growth and meet the evolving needs of consumers.
Lip care product sales in the United States amounted to 90.4 million U.S dollars in 2019.
The statistic ‘Lip care product sales in the United States amounted to 90.4 million U.S dollars in 2019’ signifies the total revenue generated from the sale of lip care products within the U.S market during that specific year. This figure provides insight into the size and importance of the lip care product industry in the United States, indicating a significant level of consumer demand for such products. Analyzing this statistic allows for understanding the market trends, consumer preferences, and potential growth opportunities within the lip care product sector. It also serves as a crucial metric for businesses, policymakers, and industry analysts to assess the economic impact and overall health of the lip care product market in the United States.
Conclusion
Based on the comprehensive analysis of Lip Balm Industry Statistics, it is evident that the market is experiencing steady growth and increasing consumer demand. As more people prioritize skincare and lip health, manufacturers and retailers in this industry have great potential for expansion and innovation to meet these evolving needs. Stay tuned for more updates and insights on the promising trends shaping the Lip Balm market.
References
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