Market volume of the global lipstick market recorded a YoY decline in 2021
Market volume of the global lipstick market registered continuous decline between 2019–2021.
Lipstick is a cosmetic product containing pigments, oils, waxes, and emollients that applies color, texture, and protection to the lips. The market is valued according to retail selling price (RSP) and includes any applicable taxes.
Five Forces Analysis
The make-up market will be analyzed taking manufacturers of make-up products as players. The key buyers will be taken as retailers, and chemical companies and mineral producers as the key suppliers.
Rivalry in the market is assessed as moderate, with most of the companies having strong brands and enjoying geographical diversification. Moreover, relatively high fixed costs intensify rivalry as they make it more difficult to exit the market.
The market leaders own a variety of recognized brands and operate in various segments of the market, such as eye make-up, face make-up, lip make-up and nail make-up. Fashion is a major influence on the make-up market, with consumers differentiating themselves quite strongly through the styles and brands of make-up products offered. Larger retailers often occupy a strong position in the supply chain, which allows them to negotiate favorable contracts with manufacturers, thereby enhancing buyer power.
Competitive Landscape
The global make-up market experienced weak value growth and a contraction in volume growth in recent years. L'Oreal is the leading player in the market in value terms, while Estee Lauder and Shiseido accounted for the second and third largest value shares, respectively, in 2020
Top Brands
Maybelline, which is owned by L'Oreal, is the most popular brand in the global make-up market in 2020. Furthermore, L'Oreal Paris (also owned by L'Oreal) and M.A.C. (owned by The Estee Lauder Companies Inc.) are also top brands, which held significant brand value shares in the same year.
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