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Lip Gloss and Lip Balm Expected to Show Strong Growth

Jan 31, 2019

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Lip make-up segment led the Indian color cosmetics market with over 40% market share in 2017. The Lip balm and lip gloss segment collectively accounted for 40% of the lip make-up market. The dominance is attributed to the wide-scale adoption and pocket compliant prices of these products. Further, apart from high adoption in urban areas, these products are widely adopted in rural areas also.
In addition, a few lip gloss and lip balm products are multi-functional which reduces consumer expenses and results in penetration of the products. For instance, some products function both as lip gloss as well as lip balm.

India - Lip Makeup Market (Million US$), 2016-2022

The key reason for their wide-scale adoption is the easy availability and affordable pricing. In addition, the adoption is increased due to urbanization. Earlier, only the young generation used to demand lip gloss and lip balm but now these products are prevalent in almost all generations including middle-aged, millennial, or geriatric female population.
The lip gloss and lip balm are available on small as well as large sales channels such as drugstores, specialty retailers, supermarket, online stores, and other channels. Also, the availability of the lip balm and lip gloss through online channels enables consumer compliance. Such efficient and easy availability of products due to multiple distribution channels expected to catalyze the segment growth in the coming years. 
Moreover, the market witnesses manufacture of novel products with faster and longer formulae that offer extraordinary benefits such as hydration and moisturizing.
It has been observed that the preference of consumers is shifting from petroleum-based products to the organic one. Lip balm and lip gloss are also available in organic variants which further enhances adoption. The players in lip balm and lip gloss segment include Maybelline, Revlon & L'Oreal.
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