The North America Lip Powder Market would witness market growth of 5.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 21,482.0 thousand units, showcasing a growth of 4.2% (2019-2022).
The market is expanding because of the rise in demand for lightweight, shine-free lip colours. In addition, the growing willingness of consumers to experiment with new cosmetics is anticipated to generate a substantial demand for lip powder in the future. In recent years, women's increased labour force participation has significantly boosted demand for premium personal care products. Spending on new beauty products is rising among financially independent women. During the projection period, these reasons are expected to fuel demand for lip powder.
The lip makeup industry often follows trends related to texture and finish. If matte finishes remain popular or new texture trends emerge, lip powders benefit from these trends. Beauty trends play a significant role in the adoption of makeup products. Lip powders have gained popularity as they provide a matte finish and a different texture than traditional lipsticks and glosses. Beauty influencers and celebrities have a significant impact on consumer preferences. Endorsements and positive reviews from well-known figures in the beauty industry can drive adoption as their recommendations influence fans and followers. Adoption can be aided by various colours that accommodate different skin tones and preferences. Consumers look for shades that match their style and skin tone; a broader range increases the chances of finding the perfect colour.
North America is home to a diverse population with varying skin tones. Brands have recognized the importance of offering inclusive shade ranges, ensuring that matte lip products cater to consumers of all backgrounds. North America's growing matte lip trend reflects the desire for long-lasting, versatile, and fashionable lip looks. Brands that offer a variety of matte lip products maintain inclusivity in shade ranges and effectively leverage social media and influencer marketing are well-positioned to capitalize on this trend and meet consumer demands in the region. Hence, all of these factors will aid in the expansion of the regional market.
The US market dominated the North America Lip Powder Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $491.3 Million by 2030. The Canada market is experiencing a CAGR of 8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7% during (2023 - 2030).
Based on Type, the market is segmented into Lip Powder Palettes and Lip Powder Pen. Based on End User, the market is segmented into 30-45 Years Old, Above 45 Years Old, 18-30 Years Old, and Under 18 Years Old. Based on Distribution Channel, the market is segmented into Online and Offline. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Lip Powder Market is Predict to reach $2.5 Billion by 2030, at a CAGR of 5.9%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include The Estee Lauder Companies, Inc., Sephora SA (LVMH Moët Hennessy Louis Vuitton), Shiseido Company Limited, Revlon, Inc. (MacAndrews & Forbes), L'Oréal S.A., Unilever PLC, Buxom cosmetics (Orveon global), BY TERRY, and CLE Cosmetics
By Type (Volume, Thousand units, USD Million, 2019-2030)
By End User (Volume, Thousand units, USD Million, 2019-2030)
By Distribution Channel (Volume, Thousand units, USD Million, 2019-2030)
By Country (Volume, Thousand units, USD Million, 2019-2030)
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