Lip Make-Up Preparations Market

The global lip make-up preparations market is projected to see steady growth from 2022 to 2030, with Russia leading in consumption and production. France is the top exporter with $836M in exports. The market is forecasted to increase by +4.5% in volume and +5.5% in value. Overall, lip make-up preparations consumption, production, and exports are on an upward trend, with noticeable fluctuations in certain years across different countries.

Market Forecast

Driven by increasing demand for lip make-up preparations worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market volume to 362K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market value to $14.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Lip Make-Up Preparations

In 2022, consumption of lip make-up preparations was finally on the rise to reach 254K tons for the first time since 2019, thus ending a two-year declining trend. In general, consumption recorded a relatively flat trend pattern. Global consumption peaked at 330K tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global lip make-up preparations market value amounted to $9.5B in 2022, growing by 9.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs at $12B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of lip make-up preparations consumption was Russia (97K tons), accounting for 38% of total volume. Moreover, lip make-up preparations consumption in Russia exceeded the figures recorded by the second-largest consumer, China (36K tons), threefold. The United States (21K tons) ranked third in terms of total consumption with an 8.3% share.

In Russia, lip make-up preparations consumption increased at an average annual rate of +1.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+1.1% per year) and the United States (+0.3% per year).

In value terms, Russia ($3.2B) led the market, alone. The second position in the ranking was taken by Japan ($1.3B). It was followed by the United States.

In Russia, the lip make-up preparations market expanded at an average annual rate of +1.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Japan (-1.3% per year) and the United States (-0.2% per year).

In 2022, the highest levels of lip make-up preparations per capita consumption was registered in Russia (675 kg per 1000 persons), followed by Turkey (133 kg per 1000 persons), the UK (125 kg per 1000 persons) and South Korea (80 kg per 1000 persons), while the world average per capita consumption of lip make-up preparations was estimated at 32 kg per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the lip make-up preparations per capita consumption in Russia amounted to +1.0%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Turkey (+3.2% per year) and the UK (+4.4% per year).

Production

World Production of Lip Make-Up Preparations

After two years of decline, production of lip make-up preparations increased by 5.2% to 249K tons in 2022. Overall, the total production indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -24.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 50% against the previous year. Over the period under review, global production reached the maximum volume at 331K tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, lip make-up preparations production rose remarkably to $9.3B in 2022 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -26.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 32%. Over the period under review, global production attained the maximum level at $12.7B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Russia (96K tons), China (56K tons) and the United States (13K tons), with a combined 67% share of global production. Turkey, South Korea, Japan, France, Italy, the Netherlands, Nigeria and Mexico lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +30.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Lip Make-Up Preparations

In 2022, the amount of lip make-up preparations imported worldwide rose sharply to 88K tons, picking up by 14% on the year before. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 19%. Global imports peaked at 98K tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, lip make-up preparations imports totaled $4.4B in 2022. In general, imports posted a resilient increase. The growth pace was the most rapid in 2016 with an increase of 26%. Global imports peaked at $5.3B in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the United States (15K tons), followed by the UK (9.7K tons) and Germany (4.2K tons) represented the largest importers of lip make-up preparations, together mixing up 32% of total imports. The Netherlands (3.9K tons), France (3.1K tons), Singapore (3.1K tons), Spain (2.8K tons), Mexico (2.4K tons), Canada (2.3K tons), the United Arab Emirates (2.2K tons), Belgium (1.9K tons), India (1.9K tons) and Malaysia (1.7K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of +14.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($615M) constitutes the largest market for imported lip make-up preparations worldwide, comprising 14% of global imports. The second position in the ranking was taken by Singapore ($217M), with a 4.9% share of global imports. It was followed by Germany, with a 4.5% share.

In the United States, lip make-up preparations imports increased at an average annual rate of +5.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (+14.7% per year) and Germany (+4.2% per year).

Import Prices By Country

The average lip make-up preparations import price stood at $49,566 per ton in 2022, which is down by -9.5% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 an increase of 16%. Over the period under review, average import prices reached the maximum at $54,789 per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($70,668 per ton), while Malaysia ($13,318 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Lip Make-Up Preparations

In 2022, overseas shipments of lip make-up preparations increased by 14% to 83K tons for the first time since 2019, thus ending a two-year declining trend. In general, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 23%. The global exports peaked at 99K tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, lip make-up preparations exports expanded to $4.2B in 2022. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 28% against the previous year. The global exports peaked at $5.2B in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, China (21K tons), distantly followed by France (8.7K tons), the United States (6.7K tons), the Netherlands (5.6K tons), Singapore (5.4K tons) and Italy (4.7K tons) represented the major exporters of lip make-up preparations, together creating 62% of total exports. South Korea (3.7K tons), Germany (3.5K tons), Poland (2.7K tons), the UK (2.7K tons), Canada (2.3K tons), Spain (1.8K tons) and Hong Kong SAR (1.8K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to lip make-up preparations exports from China stood at +7.2%. At the same time, the Netherlands (+25.1%), South Korea (+20.2%), Spain (+15.2%), Singapore (+15.2%), Hong Kong SAR (+12.2%), Italy (+9.1%), France (+7.5%), Poland (+2.6%), the United States (+2.2%), Canada (+1.8%) and Germany (+1.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +25.1% from 2012-2022. By contrast, the UK (-3.2%) illustrated a downward trend over the same period. While the share of the Netherlands (+5.6 p.p.), China (+4.8 p.p.), Singapore (+3.9 p.p.), South Korea (+3.3 p.p.), France (+2.3 p.p.) and Italy (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-1.7 p.p.), the United States (-2.4 p.p.) and the UK (-4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($836M) remains the largest lip make-up preparations supplier worldwide, comprising 20% of global exports. The second position in the ranking was taken by the United States ($401M), with a 9.6% share of global exports. It was followed by Singapore, with a 9.5% share.

In France, lip make-up preparations exports increased at an average annual rate of +8.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+3.0% per year) and Singapore (+16.1% per year).

Export Prices By Country

In 2022, the average lip make-up preparations export price amounted to $50,172 per ton, waning by -9% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2013 an increase of 6.9% against the previous year. The global export price peaked at $55,161 per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($95,878 per ton), while China ($18,295 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform