Market Insights Consumer Beauty & Personal Care Cosmetics

Lip Cosmetics - G20

In 2024, the revenue in the Lips market in G20 countries amounts to US$13.52bn.
It is projected to experience an annual growth rate of 3.50% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue with US$4,000m in 2024.
In terms of per person revenues, US$3.82 is generated in 2024 in relation to the total population figures.
In the G20 country of Brazil, the market for lip care products is booming due to a growing emphasis on natural and organic ingredients.

Key regions: United Kingdom, United States, India, United Arab Emirates, Indonesia

Market

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Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.