Lip Balm Market size was valued at US$ 786.19 Mn. in 2021 and the total Lip Balm revenue is expected to grow at 6.55 % through 2022 to 2027, reaching nearly US$ 1150.4 Mn.
The market for reaching nearly US$ 114.17 Bn. Maximize Market Research (MMR), a leading global healthcare research firm that offers statistics and information on the global and regional healthcare sector, has published a report on the Lip Balm market. The research offers crucial business insights, regional market sizes, and forecasting until 2029.
Several topics with an emphasis on markets and industries are covered in the report. Launching new products, expanding an organisation, collaborating with others, forming joint ventures, and acquisitions are a few examples of marketing techniques. Furthermore, this study's design has incorporated all of the crucial components of the market research that directly target the industry landscape. This market research analysis also identifies and investigates the significant market drivers, obstacles, and opportunities. A report on the Lip Balm Market's competitive industry and market intelligence was just published by the global healthcare business consultancy firm Maximize Market Research. An 18-year industry expert has evaluated the market from both a local and global viewpoint as part of the research, which mixes primary and secondary information.
Lip Balm Market Overview:
The dynamics of the Lip Balm Market can be understood better by in-depth research of statistics on current and emerging trends. In order to evaluate the significance of many factors, such as concerns presented by various agents, competitive strength, and prospective young businessmen's comprehension of a resource, the research covered Porter's five forces. In order to determine the total market size by countries and segments, the research examined each nation at the microeconomic level. Using a bottom-up approach, the size of the regional and global markets is forecasted. By conducting a micro level analysis of each country, it is feasible to determine the contribution of the unorganised market to the size of the total market. The conclusions are then confirmed through discussions with prominent local entrepreneurs. Secondary research is carried out and evaluated using both paid and free data sets. The sources for demand by category and supply by each player are real government data, commercial databases, and, in the case of listed firms, yearly reports.
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Market Segmentation:
Lips are exposed to extreme temperatures both hot and cold which can affect the lips. Applying a layer of lip balm protects the lips from many elements that may cause long-term harm to the lips. One of the advantages of applying lip balm is that it forms a protective layer on your lips, protecting them from harmful UV rays. Constant exposure to UV radiation can cause hyperpigmentation on and around the lips, as well as dryness. Lip balm gives essential protection while also nourishing your pout.
Market Key players:
• DHC
• SHISEIDO
• Lancome
• Neutrogena
• L’Oreal
• NUXE
• Revlon
• Burt’s Bees
• Blistex
• Vaseline
• EOS
• Carmex
• Labello
• ChapStick
• Lip Smacker
• AVON
• Lypsyl
• CARSLAN
• Ainuo
Regional Analysis:
The five major geographical regions of the Lip Balm market are North America (the United States, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia, Sweden, etc.), Asia-Pacific (China, Japan, South Korea, India, Australia, ASEAN, and Rest of APAC), South America (Brazil, Argentina, etc.), and Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and Rest of ME&A).
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Nov 25, 2022