A volume CAGR of 4.0% has been envisaged for the global market for lip care during the forecast period (2017-2026) by a recently collated report of Fact.MR. Revenues from the lip care market across the globe are estimated to exceed US$ 3,700 Mn by 2026-end.
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Emerging Interest in Personal Grooming to Drive Adoption of Lip Care Products
The surging importance of grooming, in tandem with increasing interest in presentable appearance among the aspirational, urban population in order to create positive impression has provided numerous growth opportunities for the global cosmetics industry. Emerging interest of working professionals in personal grooming on account of improving living standards is driving innovations in cosmetic products, and lip care has been no exception. A wide range of revolutionary products of lip care have been launched around the world, and these products have an aesthetic appeal for grabbing attention of consumers, in turn fuelling sales. The lip care products are gaining immense traction within the beauty- & health-conscious consumers, as they deliver protection & nourishment to lips against harmful sun rays, and drying effects of cold & wind.
However, chemicals employed in the production of lip care products are being considered as harmful to health, which in turn has resulted into the consumer inclination toward organic lip care products. Leading players in the market are therefore introducing organic and multi-purpose lip care products for sustaining alongside growing trends. Demand for sun protection factor-based (SPF-based) lip care products from the youth population is a major trend being observed worldwide. Various entertaining & convincing advertisements, which promote use of lip care products, coupled with endorsements by celebrities on television and social media will further accelerate lip care products sales in the upcoming years.
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Fact.MR’s report offers forecast and analysis on key players underpinning expansion of the global lip care market. The market players profiled by the report include Subaru Corporation, Kiehl’s, The Estee Lauder Companies Inc., Shiseido Co., Ltd., Avon Products, Inc., Johnson & Johnson Services, Inc., Beiersdorf Aktiengesellschaft, Unilever PLC, The Procter & Gamble Company, Kao Corporation, and L’Oréal S.A.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/02/27/1991977/0/en/Shampoo-Conditioner-Top-Selling-Pet-Grooming-Products-Organic-and-Premium-Brackets-to-Turn-Profitable-Concludes-Fact-MR-in-a-New-Study.html
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