The Market value (retail sales value) of Lipstick Industry in Japan attained a value of USD 689.19 Millions in 2020
The Industry recorded a historical decline (CAGR) of 1.84% between 2017 to 2020, and is expected to grow by ...
GlobalData projects the Industry to grow at a CAGR of ...
Retail sales value of lipstick market in Japan recorded a YoY decline in 2021
The Japanese lipstick market value registered strong growth between 2017–2019, followed by a sharp decline in 2020. Japan’s make-up market is highly developed and contributed a significant share of the total Asia-Pacific make-up market's value in 2020. However, Japan’s make-up market is mature, which lessens the scope for strong growth. Moreover, Japanese consumers prefer natural beauty due to rising health consciousness, a trend which is affecting the growth of the make-up market.
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 some 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 Japanese make-up market experienced a contraction in value and volume growth in recent years. Kao is the leading player in the market in value terms, while Shiseido and L'Oreal accounted for the second and third largest value shares, respectively, in 2020.
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