San Jose, California (PRWEB) April 25, 2012
Follow us on LinkedIn Lip care has emerged as an integral part of the daily routine in several countries worldwide and is often categorized as an impulse purchase item. The global market for lip care products registered excellent growth over the past several years. The tendency of consumers to shift to economical and feelgood cosmetics such as lipsticks from the luxury and branded personal care products during troubled financial times enabled manufacturers of lipsticks to garner healthy business even during the recent downturn. Female consumers increasingly prefer affordable and feel-good beauty accessories such as lipsticks to luxurious and expensive skin or beauty treatment as part of their regular regimen. Demand for Lip Care Products containing organic and natural ingredients has been on the rise over the last few years. A shift in the consumers taste from the usage of wax-based and petroleum based lip care products to the products containing organic ingredients such as hemp, vegan and shea among others is paving way for the launch of wide number of organic and natural lip care products.
Major growth drivers include increasing awareness among consumers about the need to protect lips from overexposure to the sun, increased usage of lip care products by men, and a deeper penetration of products. There is a constant demand for lip care products that offer exceptional benefits and features. Lip care manufacturers are producing new innovative products to gain a share in the niche market. Various other strategies adopted by manufacturers include reduction in the size of products, packaging innovations, or promoting the products to multiple users. In the lip care category, products that offer multi-functional benefits help to increase sales. Consumers usually look for products that are useful in conditioning and hydrating their lips. Blistex range of flavored lip balms fruit smoothies feature real fruit extracts. The products offer an SPF (sun protection factor) of 15 or above. A wide range of lip products that aid in curing fever blisters and cold sores are being offered to attract new consumers.
Over the last few years, lip care products have no longer remained an ambit of women, as men are also using more and more of cosmetics and toiletries. The rising demand from men has influenced several companies to roll out cosmetic products specifically, skin care, sun and lip care products for men. Lip care products are most widely used by the teenage group. Since product/brand loyalty is established at an early age, manufacturers are counting on the possibility of the teenage segment consumers continuing to use the same products as they grow up.
Sales of Medicated & Therapeutic lip care products, increased significantly in recent years as vendors introduced new products for children and families in different flavors and colors. The segment stood steady even during the recent recession years in 2008-.09 and is forecast to continue at a robust growth pace of over 7% through 2017. In particular, lip medication products that are enriched with vitamins and chemicals witnessing heightened demand, since these provide protection against the harmful emissions of the UV rays. The market for traditional lip care products continues to hold the largest share of the overall market, buoyed by sustained popularity of traditional products such as lip balms, lipsticks, moisturizers and other stylish and fashionable cosmetic and lip protection products. Fruit flavored chapsticks have become the most preferred among lip care products. Aloe lip balms formulated with natural ingredients such as aloe, canolas and coconut oil, and wax of sweet bee are widely being preferred.
Developed markets of Europe and North America continue to be traditional market leaders, capturing a substantial share of the world market, as stated by the new market research report on Lip Care Products. In terms of highest growth potential, Asia-Pacific propelled by the vibrant markets of China, India, Singapore, Korea, Taiwan and others is projected to race ahead at the strongest CAGR of 7% over the analysis period. The market for color cosmetics is developing at fast rate in the region and international trends and fashions largely influence consumer buying patterns in the market.
Key players profiled in the report include Avon Products Inc., Bayer Corporation, Beiersdorf AG, Blistex Inc., Blairex Laboratories, Carma Laboratories, Chattem Inc., Clarins SA, GlaxoSmithKline PLC, Johnson & Johnson, Laboratoire Dermophil Indien, LOreal SA, Revlon, Rohto Pharmaceuticals Co. Ltd., Mentholatum Company Inc., The Body Shop International Plc., Unilever NV, Vichy Laboratories, and Wyeth Corporation.
The research report titled Lip Care Products: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of the lip care products markets, impact of recession on the markets, current market trends, key growth drivers, marketing & distribution of lip care products, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Lip Care Products market for the years 2009 through 2017 for geographic markets including, US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key product segments analyzed include Traditional, Medicated and Therapeutic Lip Care Products, and Sun Care Lip Care Products. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit
http://www.strategyr.com/Lip_Care_Products_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
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