The global lipstick market was valued at USD 9.6 Billion in 2024 and is projected to reach USD 14.4 Billion by 2033, growing at a CAGR of 4.6% during 2025-2033. Europe dominates with over 31.0% market share in 2024, driven by its rich beauty culture and premium brand presence. Sustainability initiatives and e-commerce growth are key market drivers enhancing consumer access and brand diversity. 

Study Assumption Years

  • Base Year: 2024
  • Historical Years: 2019-2024
  • Forecast Period: 2025-2033

Lipstick Market Key Takeaways

  • Current Market Size: USD 9.6 Billion in 2024
  • CAGR: 4.6% during 2025-2033
  • Forecast Period: 2025-2033
  • Europe leads with a market share exceeding 31.0% in 2024.
  • E-commerce growth enhances accessibility with virtual try-ons and easy price comparisons.
  • Sustainability trends drive demand for eco-friendly packaging and vegan formulations.
  • Shimmer lipsticks hold the largest product type share at 37.5%.
  • Female consumers dominate with 85.0% market share in 2024.

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Market Growth Factors

Growth of the lipstick market is attributed to the global rise of e-commerce, which allows consumers to shop for brands, colors and formulations around the clock without leaving home. In addition, augmented reality (AR) virtual try-on technology enables greater confidence in lipstick color choices. Online shopping allows buyers to read product descriptions and product reviews before purchase. Global marketplaces allow smaller brands to sell across countries, and such marketplaces typically provide a wider product range than retail outlets.

New formulations drove demand in the lipstick segment. Consumers in major markets, such as the United States, demand long-lasting, no-smudge lipsticks that keep up with dynamic lifestyles. Health-conscious consumers became fond of hydrating lipsticks for skin-care benefits. The clean beauty trend results in more vegan, cruelty-free, silicone- and paraben-free lipsticks becoming available on the market. While pigments used in modern formulations remain bright and resistant to fading, hybrid products combining lipstick with balms or glosses are available now.

Consumers purchase with sustainability as a major factor, and over 70% will pay more. Brands offer more biodegradable packaging. Brands offer more cruelty-free labeling. Brands offer more products containing natural ingredients. Companies work toward zero-sulfate status with paraben-free status, disclosing information about where products are made. The offering of refillable lipsticks also advanced the concept of zero waste and appealed to environmentally conscious consumers, further driving this market.

Market Segmentation

The lipstick market is segmented based on the following:

Product Type:

  • Satin/Sheer
  • Matte
  • Crème
  • Gloss
  • Metallic
  • Shimmer
  • Others

Shimmer lipsticks lead the segment with 37.5% share, favored for their radiant finish, appeal to younger demographics, and versatility across price ranges and occasions.

Color:

  • Red
  • Pink
  • Nude
  • Maroon
  • Others

Red lipsticks are iconic and timeless, symbolizing confidence and empowerment, widely popular across demographics and offered in all price ranges.

Applicator:

  • Lipstick Cream
  • Lipstick Palette
  • Lipstick Pencil
  • Lipstick Tube/Stick
  • Liquid Lipstick

Lipstick tubes/sticks format is the most recognized, preferred for convenience, precision, and availability in refillable options.

Age Group:

  • Under 18
  • 18-30
  • 30-40
  • 40-50
  • Above 50

Consumers aged 18-30 drive demand with preferences for vibrant shades and innovative finishes, influenced heavily by social media.

Gender:

  • Female
  • Unisex

Females dominate with 85.0% share, reflecting strong cultural and economic investment in beauty products.

Distribution Channel:

  • Departmental/Grocery Stores
  • Multi Branded Retail Stores
  • Supermarkets and Hypermarkets
  • Exclusive Retail Stores
  • Online Channels
  • Others

Supermarkets and hypermarkets hold the largest share at 33.8% due to convenience and broad accessibility.

Regional Insights

Europe dominated the market in 2024 with over 31.0% share, owing to the beauty culture, presence of premium brands, sustainability, and stringent safety regulations. Other factors include the growing disposable incomes of the population, a well-established retail network, and a high culture of luxury and innovative products.

Recent Developments & News

  • October 2024: Revlon expanded its ColorStay range with the launch of Limitless Matte Liquid Lipstick in 14 shades.
  • September 2024: MAC launched MACximal, a reformulated satin lipstick with a pigment-rich hydrating formula, available in 34 shades.
  • February 2024: RAIKU partnered with LVMH to introduce 100% natural packaging for luxury markets, aiming to reduce environmental footprints.
  • January 2024: MAC launched the MACximal satin lipstick line featuring high-shine packaging and the signature vanilla scent.

Key Players

  • L'Oréal SA
  • Procter & Gamble (P&G) Company
  • Avon Products, Inc.
  • Shiseido Company, Limited
  • LVMH Moët Hennessy – Louis Vuitton SE
  • Estee Lauder Companies Inc.
  • Oriflame Holding AG
  • Revlon, Inc.
  • Markwins Beauty Brands, Inc.
  • Stargazer Products
  • Coty Inc.
  • The Clorox Company
  • DHC Corporation
  • Johnson& Johnson
  • Chanel S.A.
  • Inglot Cosmetics
  • Unilever Group
  • Rohto Pharmaceutical Co., Ltd.

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