LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global lipstick market provides an analysis of the key trends expected to impact the global lipstick market across 2015-2019. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global lipstick market is expected to grow at a CAGR of over 3% during the forecast period and is expected to exceed USD 8 billion by 2019. Some of the products that have garnered significant consumer interest are neon, matte, glitter, and nude lipsticks.
Arushi Thakur, lead analyst for cosmetics and toiletry industry at Technavio says, “Despite varying consumer sentiment and disposable incomes worldwide, the demand for lipsticks has seen steady growth over the years. Even during the recession of 2008-2009, lipstick was considered a form of affordable luxury for consumers as it was cheaper than other luxury products.”
The top three trends according to Technavio’s consumer and retail research analysts are:
Demand for natural and organic lipstick
According to the report, there is an increase in demand for natural and organic lipsticks. In 2015, 42% of women, aged 18 years and above, increased their purchase of natural beauty products in the US. Manufacturers are now focusing on the development of organic components to cater to this growing demand.
“Most lipsticks contain lead, a highly toxic ingredient which can cause lasting damage to health even in small quantities. With the publication of the FDA's study in 2012, consumers have become more conscious of the products they use, leading to higher demand for natural and organic lipstick”, says Arushi.
Cosmetic companies like Nūdus, an Australia-based company, have begun to offer a range of certified organic lipsticks that do not contain genetically modified organisms, nanoparticles or even gluten.
Demand for nude colors
There is an increased demand for Nude, or skin-tone colored lipsticks which have been trending in the market since 2014. These products are available in different hues to complement most skin tones. Some of these products include Chanel's Rouge Coco Shine hydrating sheer lipshine, Bobbi Brown's Uber Beige Rich Lip Color, and M.A.C's Faux and Bare Again.
Innovative packaging
Technavio analysts have found that packaging adds significant value to products and is used as a marketing tool to make a product stand out on the store shelf. Manufacturers are trying to innovate upon their product packaging to differentiate themselves from others. For instance, German packaging supplier OEKA Beauty, along with French company Cinqpats, developed an airless lipstick package called Rouge Passion, in 2013. The product is shaped like a conventional lipstick pack and dispenses a liquid formula via an airless dispensing system that is integrated into the package. The airless system prevents any contamination of the lipstick.
In 2014, Risdon International developed a unique lipstick package, called, Pro-To-Go, for Avon. In 2015, Axilone, a specialist in the manufacture of packaging for cosmetics, announced the launch of a new user-friendly "one-handed use" lipstick pack. The company has stated that the new pack will help reduce production costs.
Some of the top vendors in the global lipstick market, as researched by Technavio analysts are:
- Avon
- Chanel
- Coty
- Estée Lauder
- Kao
- LVMH
- L'Oréal
- Procter & Gamble
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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