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Lip Balm Market Share, Outlook, and Overview Trends | 2024-2030

The Lip Balm Market sizeu00a0was estimated at USD 892.46 million in 2023, and it is anticipated that total lip balm income will increase at a rate of 6.55% between 2024 and 2030, reaching over USD 1391.43 million.<br><br>Need More Information? Get additional details here @ https://www.maximizemarketresearch.com/market-report/global-lip-balm-market/22777/

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Lip Balm Market Share, Outlook, and Overview Trends | 2024-2030

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  1. Lip Balm Marketglobal Analysis Report 2024-2030 Published by: Harshada, Marketing Head

  2. Market Size & Overview: The Lip Balm Market was valued at approximately USD 892.46 million in 2023 and is projected to reach nearly USD 1,391.43 million by 2030, growing at a CAGR of 6.55% during the forecast period. Lip balms are wax-like substances applied to moisturize and protect the lips from dryness and environmental factors. The market's growth is driven by increasing consumer awareness of personal care and grooming.

  3. Market Growth & Opportunities The demand for lip balms is rising due to their protective benefits against environmental elements and harmful UV rays. Manufacturers are focusing on product innovation, introducing flavored and organic lip balms to cater to diverse consumer preferences. The expansion of online retail platforms and heightened awareness of lip care further contribute to market growth. Sample Request

  4. Market Segmentation by Usage • Women • Men • Baby by Application • Dry Skin • Sensitive Skin • Others by Product • Solid Cream Lip Balm • Liquid Gel Lip Balm by Type • Coloured • Scented • Others

  5. Regional Analysis: • North America: This region maintains a significant market share, supported by a robust retail and online distribution network. • Europe: Countries like France, Germany, and the UK lead in the demand for natural and organic lip balms, driven by stringent cosmetic regulations and a focus on product quality and sustainability. • Asia-Pacific (APAC): APAC commands a significant 32% market share, showcasing its dominant position in the region. The rising middle class and increasing internet penetration are expected to keep the region at the forefront of market expansion.

  6. Regional Analysis Customized Report Request

  7. Merges and Acquisition • MY Imports USA Acquires Bain de Soleil: Suncare brand Bain de Soleil was acquired by MY Imports USA, with plans to relaunch in 2025, including new products like SPF lip balms. • Helen of Troy Limited Acquires Olive & June: Helen of Troy entered into a definitive merger agreement to acquire Olive & June, an omnichannel nail care brand, aiming to boost the brand while allowing it to operate independently. • L'Oréal'sAcquisition Activity: L'Oréal has been actively expanding its portfolio through acquisitions, contributing to its growth in the beauty and personal care industry.

  8. Thank You Get In Touch with US: MAXIMIZE MARKET RESEARCH PVT. LTD. 3rd Floor, Navale IT park Phase 2, Pune Banglore Highway, Narhe Pune, Maharashtra 411041, India. +91 9607365656 sales@maximizemarketresearch.com

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