Lipstick Market Size, Share & Industry Analysis, By Form (Liquid, Stick, Powder, and Others), By Finish (Matte, Glossy, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Store, Online/E-Commerce, and Others), and Regional Forecast till 2032

The global lipstick market size was valued at USD 18.59 billion in 2025. The market is projected to grow from USD 19.47 billion in 2026 to USD 28.25 billion by 2034, exhibiting a CAGR of 4.76% during the forecast period.

The global lipstick market is growing significantly due to the rising interest in cosmetic products. Lipstick is a makeup item designed to add color to the lips. It is developed using oil, wax, and color pigments and is available in multiple finishes and forms. The product also protects and hydrates the lips, further increasing its demand worldwide.

The COVID-19 pandemic negatively impacted lipstick sales due to a decline in the demand for non-essential products such as lipstick, notably in 2020. Cancellation of events such as parties, weddings, and concerts further reduced product sales. Moreover, as individuals were confined at home, there was a low emphasis on physical appearance, hampering market growth.

Lipstick Market Driver

Increasing Interest in Makeup & Beauty Products to Drive Market Growth

Rising consciousness regarding physical appearance has resulted in an increased consumer inclination toward makeup products such as lipstick, which are designed to enhance the user's appearance. Moreover, as consumer's income level is increasing, they are focusing more on enhancing their living standards and investing in beauty products, including premium lipsticks. Several social media influencers are also increasing consumer awareness regarding makeup techniques, positively influencing the market growth.

Lipstick Market Restraint

Presence of Harmful Chemicals to Affect Product Demand

Lipstick products include multiple harmful chemicals such as parabens, formaldehyde, and phthalates. These toxic substances can result in allergic skin reactions and cause dry lips. This factor declines product demand among numerous consumers. Furthermore, the wide availability of alternative products such as lip gloss, lip balm, and lip tint hamper global market expansion. Moreover, the high cost of luxury and premium lipsticks reduces product adoption among low-income consumers.

Lipstick Market Opportunity

Rising Popularity of Vegan Lipsticks to Provide Growth Opportunities

The growing demand for plant-based products among the vegan population across countries provides growth opportunities to market players. Companies can develop vegan lipsticks that do not contain animal ingredients such as lanolin, carmine, and beeswax and increase sales among the vegan population. In addition, the growing popularity of clean beauty and cruelty-free products due to rising environmental concerns are anticipated to accelerate vegan lipstick sales over the coming years.

Segmentation

Key Insights

The report covers the following key insights

• Overview of the Parent/Related Market
• Supply Chain Analysis
• Industry SWOT Analysis
• Porter's Five Forces Analysis
• Recent Technological Advancements 

Analysis by Form

Based on form, the market is divided into liquid, stick, powder, and others.

The stick segment holds the largest market share. Stick lipsticks are solid or traditional forms that end users widely prefer due to their easy application. They are also developed in multiple shades and finishes as per user's needs, supporting segmental growth.

The liquid segment will grow at the highest rate over the coming years. Liquid lipsticks typically have a longer last compared to their counterparts and are also transfer-proof, increasing their demand across countries.

Analysis by Finish

Based on finish, the global market is categorized into matte, glossy, and others.

The matte segment leads the market owing to the high demand for matte lipsticks among individuals with oily skin. The product is also long-lasting and provides a non-shiny appearance, driving its sales worldwide.

The glossy segment holds the second largest market share due to the hydration benefits of glossy lipsticks, which increase their adoption among consumers with dry skin.

Analysis by Distribution Channel

Based on distribution channels, the market is segmented into supermarkets/hypermarkets, specialty stores, online/e-commerce, and others.

The supermarkets/hypermarkets segment is anticipated to lead the market over the forecast period. These retailers typically offer lipstick testers that customers can try and make the buying decision accordingly. They also provide a diversified range of products, including multiple brands and types.

The online/e-commerce segment is anticipated to rise at the highest CAGR over the forecast period, backed by several companies prioritizing the sale of lipsticks via online retailers paired with the rising interest of end users in online purchases.

Regional Analysis

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Based on region, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

North America dominated the market in 2024, driven by the rising fashion industry in the region, increasing demand for lipsticks. The high working women population in countries such as the U.S. and Canada also boosts product sales.

Europe will grow at the highest rate in the near term, backed by strong demand for personal care and cosmetics products across the region. For instance, according to Cosmetics Europe, a Belgium-based personal care association, in 2023, Europe's personal care and cosmetics retail sales market was valued at around USD 98 billion. Growing demand for organic and natural lipsticks further bolsters regional expansion.

Key Market Players

• L'Oréal Group (France)
• Shiseido Company (Japan)
• Huda Beauty (UAE)
• Estée Lauder Companies (U.S.)
• Coty Inc. (U.S.)
• Chanel (U.K.)
• Revlon Inc. (U.S.)
• Beiersdorf AG (Germany)
• Avon Products Inc. (U.K.)
• Dior (France)

Key Industry Developments

• In April 2024, Kylie Cosmetics, a U.S.-based beauty brand offering products including lipsticks, entered the Indian market in collaboration with House of Beauty, an Indian omnichannel specialist.
• In October 2023, CMYK Cosmetics, a beauty products brand, introduced a vegan lipstick collection including seven products. The lipsticks have a creamy and long-lasting texture.