Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 890.76 Million | USD 1,614 Million | 7.72% | 2022 |
FrequentlyAsked Questions
A lip balm is a consumer personal care product. It is a wax-like substance applied to the lips for moisturization and improving the overall lip texture.
The global lip balm market is expected to grow owing to the increasing disposable income of the general population.
According to study, the global lip balm market size was worth around USD 890.76 million in 2022 and is predicted to grow to around USD 1,614.85 million by 2030.
The CAGR value of lip balm market is expected to be around 7.72% during 2023-2030.
The global lip balm market is expected to register the highest growth in Asia-Pacific.
The global lip balm market is led by players like Carmex, Burt's Bees, Nivea, EOS (Evolution of Smooth), Aquaphor, ChapStick, Maybelline, Blistex, Smith's Rosebud Salve, Labello, Clinique, Vaseline, Badger Balm, Neutrogena, and Jack Black.
The report explores crucial aspects of the lip balm market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.
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