Europe Lipstick Market to Cross $ 2.4 Billion by 2023
Increasing
demand for lipsticks from working women along with growing demand from emerging
countries to fuel Europe lipstick market through 2023
According to TechSci Research
report, ‘Europe Lipstick Market
By Product Type, By Distribution Channel, By Country, Competition, Forecast & Opportunities, 2013 – 2023’, Europe lipstick market is projected
to surpass $ 2.4 billion by 2023. Anticipated growth in the market can be
attributed increasing financial independence of women and rising awareness
among working women regarding use of lipstick in daily life. Moreover, in order
to look fashionable and trendy, demand for cosmetics among youth is increasing,
which is further pushing demand for lipsticks across the region. Additionally,
rising focus of manufacturers on product innovation in lipstick market is
anticipated to positively influence Europe lipstick market in the coming years.
Among countries, a large demand for lipsticks emanates from United Kingdom, followed
by Italy, Germany, France, and Spain, among others.
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Major players operating in Europe lipstick market offer high value
products with a wider product portfolio. Moreover, interest in personal
grooming is rising in European countries, which is further expected to
contribute to the rising demand for lipsticks during forecast period. Additionally, demand for
lipsticks is increasing in developing economies in Europe backed by rising
purchasing power. Among
distributions channels, Supermarket/ Hypermarket dominated Europe lipstick market in 2017, and the segment is expected
to continue its dominance during forecast period as well. Supermarkets/ Hypermarkets offer convenience in terms of showcasing
multiple brands at a single location besides providing lucrative discounts and
offers.
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“Rising consciousness among
people regarding beauty products is boosting the usage of lipsticks
across Europe. Moreover, people are showing increasing inclination towards
natural cosmetics instead of chemical laden conventional cosmetics, which is
pushing manufacturers to come up with natural cosmetics including lipsticks. This
factor is anticipated to positively influence Europe lipstick market over the course
of next five years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Europe
Lipstick Market By Product Type, By Distribution Channel, By Country, Competition, Forecast & Opportunities, 2013 – 2023” has evaluated the future
growth potential of lipstick market and provides statistics and information on
market structure, size, share and future growth. The report is intended to
provide cutting-edge market intelligence and help decision makers to take sound
investment decision. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in Europe lipstick market.
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