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The lip gloss market share is expected to increase by USD 703.21 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.58%.
This lip gloss market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by finish (glossy, matte, glitter, and others) and geography (Europe, APAC, North America, South America, and MEA). The lip gloss market report also offers information on several market vendors, including Ariel Laboratories, CHANEL Ltd., Coty Inc., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Mary Kay Inc., Revlon Inc., Shiseido Co. Ltd., The Clorox Co., and The Estee Lauder Co. Inc. among others.
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The launch of innovative products to gain consumer interest is notably driving the lip gloss market growth, although factors such as the threat from counterfeit products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lip gloss industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Driver for the Lip Gloss Market
The launch of innovative products to gain consumer interest is one of the key lip gloss market growth drivers. Brand image and customer loyalty are very important for the performance of the global lip gloss market vendors. Consumers tend to prefer familiar brands and seek variety in terms of product offerings. Therefore, manufacturers invest considerably to augment their R&D capabilities and focus on broadening their product portfolios. Continuous product innovation and the launch of new products increase visibility and awareness about the brands among consumers. This is expected to drive the lip gloss market share growth during the forecast period.
Key Challenge for the Lip Gloss Market
Threat from counterfeit products is one of the key lip gloss market growth challenges. Over the past few years, the counterfeits of leading global lip gloss product brands have flooded the global lip gloss market. These products are priced lower than the original ones to attract customers. These products can be injurious to the health of users due to bacterial contamination. Counterfeit products are usually made from low-cost ingredients that have not been tested for safety. Such products are available across the world, especially through the Internet. Counterfeit lip gloss products are, therefore, causing a considerable dent in the market shares of leading popular brands.
This lip gloss market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the lip gloss market encompasses successful business strategies deployed by the key vendors. The lip gloss market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The lip gloss market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Finish
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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