The sub-category is expected to grow at a rate of 3.76% to $8.6bn
Lipstick is the bedrock of beauty, with its relevance and appeal seemingly timeless across decades and generations. So how is this comparatively stable sub-category performing in the market today? According to a report from Technavio, the global lipstick market was worth $7.15bn in 2014 and accounted for 46% of the global lip make-up market. Through to 2019, it is expected that the lipstick sector’s revenue will grow at a rate of 3.76%, topping $8.6bn.
So who is leading the lipstick pack? L’Oréal was identified in Technavio’s report as the market leader in 2014, with its acquisition of NYX that year giving it extra leverage, especially in the US. Some of L’Oréal’s lipsticks include: L’Oréal Paris Color Riche, Color Riche L’Extraordinaire and Infallible 24H Lip Colour.
The Americas currently accounts for the largest market share with 32.82%, followed by Brazil. L’Oréal was the leader in Canada in 2014, followed by Estée Lauder and P&G. In the APAC region – which accounted for 30.53% in 2014 – L’Oréal and Hindustan Unilever are said to be the major players in the Indian market, with their brands Maybelline and Lakmé. In 2014, Lakmé was the leading Indian brand, accounting for 40.2% of the market. Revlon, in comparison, took 19%, followed by Maybelline at 14%.
Over in Europe, market share globally was 29.02%, putting it in third place. Four of the Big 5 markets – Germany, France, the UK and Italy – were the biggest markets for lipstick in Europe. L’Oréal and Estée Lauder dominated in the UK.
Specialty or standalone stores, including MAC, Sephora and Shiseido, were the most popular places to buy lipstick in 2014, accounting for a market share of 38.2%.
Source: Technavio, 2015