Market Insights Consumer Beauty & Personal Care Cosmetics

Lip Cosmetics - NAFTA

NAFTA

In 2024, the revenue in the Lips market in NAFTA is estimated to be US$4.72bn.
According to projections, the market is expected to experience an annual growth rate of 3.33% from 2024 to 2029 (CAGR 2024-2029).
Among all countries worldwide, in the United States leads in terms of revenue generation, with US$4,000m in 2024.
When considering the population size, per person revenues of US$9.25 are generated in 2024.
The demand for organic and cruelty-free lip products is on the rise in NAFTA countries, reflecting a growing consumer preference for ethical and sustainable beauty options.

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

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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.