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Lip Balm Market – Introduction

  • Lip balm is a wax-like substance applied on the lips to moisturize dry lips. Increasing awareness regarding personal care and grooming is boosting the lip balm market across the globe.

Key Drivers of the Lip Balm Market

  • Skin on the lips is thinner than facial skin and hence, it can dry easily. Lip balms ensure that the lips remain hydrated and heal faster. Most lip balms have SPF in them, which offer protection against harmful rays of the sun. Lip balms also moisturize, nourish, color, and provides a glossy effect to the lips in order to make them appear fuller. These factors increase the demand for lip balms.
  • Lip balms are available in various flavors and scents. Furthermore, expansion of the online platform, rising awareness about lip care, and improving lifestyle of consumers propel the lip balm market.

Factors Restraining Global Lip Balm Market

  • Certain lip balms contain chemicals and allergens that can cause physical issues or rashes that affects the demand for lip balms. Furthermore, the COVID-19 pandemic hampered the lip balm market. Various countries across the globe imposed lockdown and social distancing policy to stop the spread of virus, which resulted in closure of manufacturing plants and disruption of supply chains. This delayed the production of lip balms and hampered the lip balm market.

Asia Pacific to Hold Leading Share of Global Lip Balm Market

  • In terms of geography, the global lip balm market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the lip balm market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The lip balm market in South America is segmented into Brazil and Rest of South America.
  • Asia Pacific dominated the global lip balm market in 2020, due to an increase in awareness regarding personal care and grooming in the region. Rise in population has been driving the lip balm in North America, particularly in China, India, and Japan.
  • The lip balm market in Asia Pacific is projected to expand at a rapid pace, followed by North America and Europe, during the forecast period

Key Players Operating in Global Lip Balm Market

The global lip balm market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global lip balm market are:

  • Kao Corporation
  • Revlon
  • Beiersdorf
  • The Clorox Company
  • Unilever N.V./PLC
  • Carma Labs
  • L'Oréal S.A.
  • EOS Products
  • Himalaya Global Holdings Ltd.

Global Lip Balm Market: Research Scope

Global Lip Balm Market, by Type

  • Flavored
  • CBD or Hemp Oil
  • SPF
  • Tinted
  • Plumping
  • Organic
  • Medicated
  • Others

Global Lip Balm Market, by Application

  • Individual
  • Commercial

Global Lip Balm Market, by Price

  • Low
  • Medium
  • High

Global Lip Balm Market, by Distribution Channel

  • Online
    • E Commerce Websites
    • Company Owned Websites
  • Offline
    • Supermarket/Hypermarket
    • Specialty Store
    • Others

Global Lip Balm Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Lip Balm Market