Market Insights Consumer Beauty & Personal Care Cosmetics

Lip Cosmetics - LATAM

LATAM

Revenue in the Lips market amounts to US$2.00bn in 2024. The market is expected to grow annually by 6.96% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$4,000m in 2024).
In relation to total population figures, per person revenues of US$3.14 are generated in 2024.

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

Market

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Region comparison

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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.