San Jose, CA (Vocus/PRWEB) February 07, 2011
The global market for lip care products registered excellent growth over the past several years. The tendency of the consumers to shift to economical and feelgood cosmetics such as lipsticks from the luxury and branded personal care products during the tiring times enabled the manufacturers of lipsticks to garner healthy business even during the recent downturn. The personal care industry comprising lip care, lipsticks and other personal care products in fact grew at a healthy rate in comparison to other industries that were severely dented by the global slump. Female consumers largely prefer affordable and feel-good beauty accessories such as lipsticks to a luxurious and expensive skin treatment or beauty treatment during the financial crisis, as usage of these products provides a high sense of satisfaction and adds to the self-esteem of the women consumers.
Europe dominates the world lip care products market, as stated by the new market research report on lip care products. Lip medication products that are enriched with vitamins and chemicals are witnessing rising sales in the region, as these products provide protection against harmful emissions of UV rays. Other products formulated with aloe vera moisturizers, anti-UV agents, and other ingredients that deal with dryness and cold sores have also emerged popular. The United States trail Europe in terms of lip care product sales. Emphasis on youthful appearance is one of the major factors driving the sales of lip care products in the US. Rising concerns regarding health, such as awareness of skin cancer also attributed to sales increase. However, fastest is likely to emerge from the emerging Asia-Pacific, Latin America, Middle East, and Eastern European markets. Growth wise, Asia-Pacific is projected to be the fastest growing regional market for lip care products, with a CAGR of about 6.4% over the analysis period.
Traditional lip care products represents the most widely used product category. Medicated & therapeutic segment is poised to register the fastest compounded annual growth rate of more than 6.0% over the analysis period. Demand for lip care products containing organic and natural ingredients has been on the rise over the last few years. A shift in the consumers taste from the usage of wax-based and petroleum based lip care products to products containing organic ingredients such as hemp, vegan and shea among others, is paving way for the launch of wide number of organic and natural lip care products.
Other major trend includes increasing use of lip care products by men. Lip care products have no longer remained an ambit of women, as men are also using more and more of cosmetics and toiletries. A strong growth in sales is attributed to new product launches coupled with aggressive promotion and advertising. Retailers and manufacturers are adopting category management techniques to increase or strengthen sales volume of these high-impulse items. Various other strategies adopted by manufacturers include reduction in the size of products (offer smaller versions), packaging innovations, or promoting the products to multiple users.
Key players profiled in the report include Avon Products Inc., Bayer Corporation, Beiersdorf AG, Blistex Inc., Blairex Laboratories, Carma Laboratories, Chattem Inc., Clarins SA, GlaxoSmithKline PLC, Johnson & Johnson, Laboratoire Dermophil Indien, LOreal SA, Revlon, Rohto Pharmaceuticals Co. Ltd., Mentholatum Company Inc., The Body Shop International Plc., Unilever NV, Vichy Laboratories, and Wyeth Corporation.
The research report titled Lip Care Products: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of the lip care products markets, impact of recession on the markets, current market trends, key growth drivers, marketing & distribution of lip care products, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Lip Care Products market for the years 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key segments analyzed include Traditional, Medicated & Therapeutic, and Sun Care Lip Care Products. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Lip_Care_Products_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the worlds largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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