Lip Care Products Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
The global lip care products market size is expected to reach USD 1.18 billion by 2025, exhibiting a CAGR of 7.2% over the forecast period, according to a new report published by Grand View Research, Inc. Rising consciousness regarding personal grooming among millennials and working class population coupled with high demand for innovative products from women is projected to drive the market. In addition, a steady rise in adoption of basic personal care products in a daily routine by men to is expected to bode well for the growth. Moreover, rising influence of media on beauty perception is anticipated to boost the product demand. Lip care products contain a balanced concentration of ingredients, such as natural wax, butters, and botanical ingredients. The combination of these ingredients with antioxidant and anti-inflammatory properties help cure the dryness, cold sores, angular cheilitis, and split lips. A gradual shift in consumer preference from petroleum or wax-based lip protection products to organic ingredient-based products over the past few years has positively influenced the market growth. Moreover, rising awareness regarding protecting the lips from cold temperatures and dry air has propelled the product demand.