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The Global Lip Balm Market size was USD 784.2 Million in 2021 and is expected to register a revenue CAGR of 6.3% during the forecast period.

NEW YORK CITY, NEW YORK, USA, July 20, 2022 /EINPresswire.com/ -- The Global Lip Balm Market size was USD 784.2 Million in 2021 and is expected to register a revenue CAGR of 6.3% over the forecast period, according to a latest report by Reports and Data. Increasing awareness about healthcare and shifting consumer preference toward natural healthcare products are key factors expected to continue to drive revenue growth of the market to some extent. The product's demand is expected to increase owing to rising lip-related problems such as chapping, darkening, wrinkles, and dividing caused by dehydration, allergies, nutritional, and vitamin deficiency, sun damage, and other factors. Thus, growing awareness about lip protection is driving demand for lip balms, which is driving revenue growth of the market.

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Females are becoming interested in lip balm due to a growing trend in female grooming and males still use lip balm products more frequently. Actinic cheilitis, wrinkles, and faster lip aging can all result from prolonged, unprotected exposure to sunshine. This has raised consumer demand for a lip balm that offers sun protection. A larger consumer base has resulted from these manufacturers' increased emphasis on product innovation, the development of long-term and faster formulae, and appealing product lines for teenagers. It is a poor habit to smoke cigarettes since it harms the lips and leads to particular problems such as wrinkling, chapping, and discoloration. This is just one of many important factors influencing the market for lip balm. Manufacturers of lip balm make investments in R&D to provide innovative products that can adapt to changing consumer demands, which is expected to drive revenue growth of the market.

Top 10 Profiled in the Global Lip Balm Market Report:

• Kao Corporation, • Revlon, Inc., • Beiersdorf AG, • The Clorox Company, • Unilever plc, • Carma Labs Inc., • Avon Products, Inc. • Others

Global Lip Balm Market Segmentation:

• Flavored • CBD or Hemp Oil • SPF • Tinted • Plumping • Organic • Medicated

• Cream Lip Balm • Gel Lip Balm

• Hypermarkets/Supermarkets • Specialty Stores • Drug stores • Online Stores • Others

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• Dry Skin • Sensitive Skin • Others

Some Key Highlights From the Report

• The flavored segment revenue is expected to account for the largest share over the forecast period. Sunburn on the lips can be prevented with the use of flavored lip balm with SPF. Flavored lip balm provides the affected area with a lubricating effect and relieves excessive pain and dryness. These balms not only smell sweeter, but they also taste good. In order to keep the lips moisturized and healthy throughout the day, lip balm should have a pleasant flavor and scent. Some favorite lip balm flavors are watermelon, margarita, blueberry, and others. • The hypermarkets/supermarkets segment accounted for the largest revenue share in 2021, due to their affordable product pricing and increased visibility of both local and international brands, these stores are an excellent choice for shoppers from all demographic groups. • The dry skin segment accounted for the largest revenue share in 2021. Lip balm helps the lips rehydrate, which is one of its key advantages. If people start to suffer from dry lips, lip balm can be the best solution for them. Regularly applying lip balm helps the lips regain their natural moisture and nourishes them, keeping the lip soft and supple.

Key Takeaways of the Global Lip Balm Market Report:

• A comprehensive overview of the global Lip Balm industry. • Accurate market projections in terms of market size, share, and volume. • Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues. • Deep-dive analysis of the upcoming market trends. • Qualitative and quantitative analyses of the global Lip Balm market. • Elaborate study of the leading regional markets in the global Lip Balm market. • Complete overview of the market’s competitive landscape. • Brief look at the company profiles and portfolios.

Key Regional Markets Covered in the Report:

• North America o U.S. o Canada o Mexico • Europe o Russia o U.K. o Germany o France o BENELUX o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Rest of Asia Pacific • Latin America o Brazil o Rest of Latin America • Middle East & Africa o Saudi Arabia o U.A.E. o Israel Rest of Middle East & Africa

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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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