Posted by Alimar Private Label on 1/16/2023 to Education
Lip care products refer to cosmetics that provide nourishment to the lips and protect them against external elements, such as cold temperature, dry wind and UV radiation.
Although females have always been the major consumer of lip care products, there has been a surge in male consumers in recent years, owing to the growing trend of personal grooming among men.
The global lip care products market size is expected to reach USD 3.1 billion by 2028, registering a CAGR of 5.9%.
The lip balm segment held the largest segment in 2020 and is expected to maintain dominance. Lip balms are intended to offer the benefits of instant hydration and moisturization, which is driving their adoption as an essential lip care product. The growing availability of lip balms with various fragrances, flavors, plant-based ingredients, sizes, and shapes, are boosting the market growth.
Are you offering lip balms as part of your product line? If your answer is no, now is the time to jump on this trend!